If one contacted FINRA, and asked them if they are holding up SPNG's 211 filing, or can they hold up a 211 filing, does anyone really think they would tell us?
Uhmm yes as people have called them.
Posted by: OldTymer Date: Wednesday, November 04, 2009 3:05:09 PM
In reply to: None Post # of 273599 [Send a link via email] [Share on Facebook] [Tweet this post]
My call to FINRA...
I just got off the phone with Mario, who works with the 15c-211 Group with FINRA: 240-386-5074. I explained the situation regarding SpongeTech to him, including the SEC suspension, etc. I asked him that even though the investigation may still be going on with SpongeTech by the SEC, are there any rules that would prohibit a Market Maker from sponsoring SpongeTech back to the OTCBB. He said there were no rules preventing this. He said any MM could still sponsor them back if they chose.
I asked him if he could tell me if SPNG has filed the 15c-211 with them. He checked. He said as of today, they have not received any notification from a Market Maker regarding this matter. I explained to him that SPNG was still waiting for their audited 10K to be completed. He said if a MM was going to sponsor them, obviously they would first have to wait for the 10K to be finished, then look it over. If they decided that everything was okay and they were comfortable in sponsoring them, they would notify the 15c-211 group at FINRA of their intentions.
Mario said I could call any time to find out if FINRA has received any notification from a MM who was going to sponsor SPNG back to the OTCBB. He said they can't reveal who the MM is, but they can tell me if they have received notice from them.
