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TEX

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Alias Born 04/15/2005

TEX

Re: J Bling post# 15737

Saturday, 05/29/2010 12:48:00 PM

Saturday, May 29, 2010 12:48:00 PM

Post# of 22746
That part is not written well (happens too much with SEC copy, especially when it comes from the "Investor Education" guys):

For stocks that trade in the OTC or the over-the-counter market, trading does not automatically resume when a suspension ends. (The OTC market includes the Bulletin Board and the Pink Sheets.) Before trading can resume for OTC stocks, SEC regulations require a broker-dealer to review information about a company before publishing a quote. If a broker-dealer does not have confidence that a company's financial statements are current and accurate, especially in light of the questions raised by the SEC, then a broker-dealer may not publish a quote for the company's stock.

That part in bold should read something like "does not automatically resume in the same venue . . ."

Because it does resume being *eligible* to trade--on the greys. That part *is* automatic. So the part about having a broker-dealer review info is poorly worded, too.

The "broker-dealer review" is the 15c2-11 process necessary to get off the greys.
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