AI
Wednesday, September 01, 2010 2:53:14 PM
Warning regarding CLDR from pinksheets.com:
Link to Pink Sheets quote page showing warning: http://www.otcmarkets.com/stock/CLDR/quote
SEC info on unsolicted quotes: http://www.sec.gov/answers/unsolicitedquotations.htm
Exerpts:
Unsolicited Quotations
When you see the word “unsolicited” as part of a stock quotation page on a website such as the Pink Sheets (marked as “unsolicited”) or OTC Bulletin Board (marked as “U”), you should be aware that the quote is not necessarily a market maker’s own quotation reflecting a price based on market conditions or current information about the company being quoted. Instead, it is a quotation that a market maker posts to reflect an unsolicited order by a customer. So, if you and anyone calls his or her broker, or places an on-line order for the stock – without the broker’s promotion of the stock to that individual – that order would be posted at the customer’s own designated price and marked as an “unsolicited” quotation.
It is important to be aware that the individual placing such an order may not be relying on current information about the company – which is vitally important before making an informed investment decision. The individual may unwittingly be relying on bogus pricing and false promotional information from spam email or faxes. Worse yet the individual placing the order – while appearing as an unsolicited member of the general public – may actually be in league with the fraudsters. That’s frequently how the fraudsters get the public market started out of the blue, and how they are able to generate the appearance of investor interest and trading volume. So when you see the word “unsolicited” in reference to the quotation’s status, you should be cautious and find out whether there is current information about the company before you buy or sell the stock.
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[1] In general, broker-dealers seeking to commence quotations in Pink Sheets and OTC Bulletin Board securities must demonstrate that they have gathered accurate and current information about an issuer through their disclosures on Form 211, which is filed with and reviewed by FINRA, and by complying with SEC Rule 15c2-11 and equivalent FINRA rules.
[2] The OTC Bulletin Board and the Pink Sheets also post information about how securities are quoted, including information about unsolicited orders. See, for example, the OTC Bulletin Board’s website at http://www.otcbb.com/aboutotcbb/howtoquote.stm, and the Pink Sheets’ website at http://www.pinksheets.com/otcguide/brokers_index.jsp. The OTC Bulletin Board also posts warnings and information about spam at http://www.otcbb.com/help/spam.stm.
Link to Pink Sheets quote page showing warning: http://www.otcmarkets.com/stock/CLDR/quote
SEC info on unsolicted quotes: http://www.sec.gov/answers/unsolicitedquotations.htm
Exerpts:
Unsolicited Quotations
When you see the word “unsolicited” as part of a stock quotation page on a website such as the Pink Sheets (marked as “unsolicited”) or OTC Bulletin Board (marked as “U”), you should be aware that the quote is not necessarily a market maker’s own quotation reflecting a price based on market conditions or current information about the company being quoted. Instead, it is a quotation that a market maker posts to reflect an unsolicited order by a customer. So, if you and anyone calls his or her broker, or places an on-line order for the stock – without the broker’s promotion of the stock to that individual – that order would be posted at the customer’s own designated price and marked as an “unsolicited” quotation.
It is important to be aware that the individual placing such an order may not be relying on current information about the company – which is vitally important before making an informed investment decision. The individual may unwittingly be relying on bogus pricing and false promotional information from spam email or faxes. Worse yet the individual placing the order – while appearing as an unsolicited member of the general public – may actually be in league with the fraudsters. That’s frequently how the fraudsters get the public market started out of the blue, and how they are able to generate the appearance of investor interest and trading volume. So when you see the word “unsolicited” in reference to the quotation’s status, you should be cautious and find out whether there is current information about the company before you buy or sell the stock.
---------------
[1] In general, broker-dealers seeking to commence quotations in Pink Sheets and OTC Bulletin Board securities must demonstrate that they have gathered accurate and current information about an issuer through their disclosures on Form 211, which is filed with and reviewed by FINRA, and by complying with SEC Rule 15c2-11 and equivalent FINRA rules.
[2] The OTC Bulletin Board and the Pink Sheets also post information about how securities are quoted, including information about unsolicited orders. See, for example, the OTC Bulletin Board’s website at http://www.otcbb.com/aboutotcbb/howtoquote.stm, and the Pink Sheets’ website at http://www.pinksheets.com/otcguide/brokers_index.jsp. The OTC Bulletin Board also posts warnings and information about spam at http://www.otcbb.com/help/spam.stm.
~Cassandra
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