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Nope, not at all, sperri.
By the way, there has never been any MM manipulation with this company, or shorting beyond normal day to day MM activities that always even out. Read this, see if you are capable of comprehending it, and tell it to big cat (li'lpus).....
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=63962702
Frankly, though, I agree that the reasons why MTEK was suspended aren't that clear.
Maybe the SEC should follow through on another 'long overdue' move and investigate Market Makers. While they're at it, they might start investigate people such as yourself...who seemingly have no interest in a stock, yet continue to slam it. Seems a bit sociopathic, don't you think?
So what's your interest?
Some more press ...
http://serious-speculator.com/2011/06/16/sec-mass-suspension-of-penny-stocks-may-signal-new-era-of-enforcement/
By the way, when this opens on the greys, how will you all feel to know that Brent and Jeff were liars?
And this, a DTC lock, something new with these suspensions.
http://www.dtcc.com/downloads/legal/imp_notices/2011/nscc/A7226.pdf
excellent news about MTEK:
Mediaplanet Launches Campaign for Awareness of Neurological Issues10:13AM ET on Friday Jun 10, 2011 by PR Newswire
The neurological system is the most fascinating and complicated in the human body. The human brain performs so many amazing tasks on a daily basis that it should come as no surprise that over 600 brain disorders have currently been identified and are being researched and treated by neurologists and neurosurgeons. The American Academy of Neurology, The Congress of Neurological Surgeons, and Chairman of Neurosurgery at West Virginia University Hospitals Dr. Julian Bailes join Mediaplanet in this campaign for Brain Health.
(Logo: http://photos.prnewswire.com/prnh/20100820/CG52983LOGO)
When a Diagnosis Becomes a Calling
Brain Health features the inspirational story of Dawn Brinkley. Despite being diagnosed with the movement disorder Cervical Dystonia (CD) at the age of 32, Brinkley was crowned Mrs. North Carolina, using her pageant title to advocate for other sufferers of CD.
The report also introduces a number of novel therapies and treatments for neurological issues. It highlights the exciting work being done in a clinical trial called SyNAPSe, which will ideally lead to the development of the first drug treatment for traumatic brain injury. Sufferers of Pseudobulbar Affect (PBA), an often-misdiagnosed disorder in which one laughs or cries uncontrollably, can find new hope with a pharmaceutical therapy called Nuedexta.
Mediaplanet's Report
In partnership with The Chiari Care Center, the Centre for Neuro Skills, the Make Your Mark Campaign, Mind Technologies, Inc., ImPACT Concussion Management, Marbles: The Brain Store, BHR Pharmaceuticals and Avanir Pharmaceuticals, Mediaplanet is proud to present the Brain Health report.
To view this report CLICK HERE or click the link: http://doc.mediaplanet.com/all_projects/7599.pdf
LOOK AT PAGE 5
Mediaplanet creates focused reports on specific business, healthcare, technology or consumer topics.
For more information, go to www.Mediaplanet.com or call 312-337-4125.
SOURCE Mediaplanet
https://research.tdwaterhouse.ca/research/public/Markets/NewsArticle/100-161p2893-1
As I said, it is now showing as grey......and suspended
http://www.otcmarkets.com/stock/MTEK/company-info
Looking forward to learning!
LOL? Is this your first suspended stock?
Watch and learn, bub.....
AS I said, read the posted FINRA info.
"It will be delisted to the grey sheets 4 trading days after suspension."
Really?
Says who?
Geesh..technicalities. It will be delisted to the grey sheets 4 trading days after suspension.
At that is where it will stay. Watch and learn, bub......
RBTree: I assume you didn't read or understand the info Renee posted from FINRA.
SPerri40: Yes I did and understand completely. Thanks for assuming though...
RBTree: MTEK is now mired on the grey sheets. No MM can publish a quote, until MTEK clears the air. At that point, pursuant to Rule 15c2-11, one MM must take the risk in filing a Form 211 with FINRA. If cleared, then and only then can MTEK return to the pink sheets.
SPerri40: And I am the one who doesn't understand? They are not on the grey sheets. They are suspended...there is a difference.
RBTree: I'm amazed at the naivete of you guys, having perused your new board.
SPerri40: I am amazed there are people such as yourself with presumably no interest in the company that have such a penchant for perpetually predicting its demise. Sociopath or paid basher? You'd have to be one or the other...
I assume you didn't read or understand the info Renee posted from FINRA.
MTEK is now mired on the grey sheets. No MM can publish a quote, until MTEK clears the air. At that point, pursuant to Rule 15c2-11, one MM must take the risk in filing a Form 211 with FINRA. If cleared, then and only then can MTEK return to the pink sheets.
I'm amazed at the naivete of you guys, having perused your new board.
Few if any suspended stocks return to normal trading. Will MTEK break the mold?
Who stands to make a lot of money behind today s SEC halting of 17 stocks, otc otcbb small micro cap stocks witch now have the Caveat Emptor logo out front and center on the right side of the page, and the lowest cost small page to be come current is $2,500.00 USD or up list to the deluxe package 12,500.00 When otcmarkets.com AKA pinksheets reported these stocks to the SEC the share holders of these 17 penny stocks all screwed today.
The SEC Enforcement Division is not the sharpest pencil in the box when it comes to government agencies they had some encouragement and help!
Those Companies that get behind with paying there dues otcmarkets.com aka pinksheets all get reported to the sec it's like a pay to play scam imo.
No pay otcmarkets.com = This logo
We send the SEC Penny Microcap Police to your Company front door! lol
System manipulation!
But this is a two edge sword we do need this information to be able to pick the best of the otc / otcbb penny stocks.
With the information that otc / otcbb provides to the penny stock player gives the penny player the edge so you can tell the apples from the lemons providing you do your DD research and more on the penny stock before you buy it.
Never buy one of these POS before DD researching them first.
Bottom line here today I got screwed by Government Politics at the SEC and a smart Company CEO who knows and works the new SEC Financial Laws to his company advantage
You got to be more careful out there trading today and do it to them before they do it to you, take the money and run and remember some profit is better then no profit.
I thinking and hoping that once these 17 companies get up to date with there filings and etc, the PPS comes back and today s traders get there money back that is the most important thing here, imo!
I hope all of today s traders bet there money back !!!
God bless and always the best of trading
The Open, Transparent, and Connected Marketplace
OTC Markets Group Inc. operates the world's largest electronic interdealer quotation system for broker-dealers to trade unlisted securities. We organize the OTC marketplace into three tiers based on the level of disclosure companies choose to provide to investors: OTCQX, OTCQB and OTC Pink. & The Grey Sheets.
http://www.otcmarkets.com/stock/MTEK/news
MTEK News Mind Technologies, Inc. to Begin Filing Quarterly Financials.
Tuesday, June 7, 2011 2:11 PM
Scottrade.com
This email is compliments of Scottrade.com
News for 'MTEK' - (Mind Technologies, Inc. to Begin Filing Quarterly Financials)
http://www.otcmarkets.com/stock/MTEK/news
CARDIFF, Calif., June 7, 2011 /PRNewswire via COMTEX/ -- Mind Technologies,
Inc. (http://mindtechnologiesinc.com) (Pink OTC: MTEK), announced this morning
that The Company will begin filing quarterly financials to provide shareholders
updated, current information. The Board of Directors resolved to this action as
a result of receiving a ten day temporary trade halt on MTEK. The Company is
finalizing first and second quarter financial statements, to be filed publicly
as soon as possible. It is the Company's goal to bring the public information
current immediately to resume the trading status of MTEK. The Company will
update shareholders on the progress and announce in a press release when trading
has resumed.
The Company has elected to accelerate its financial filings on a quarterly basis
to provide transparency to its shareholders and avoid temporary trading
disruptions in the future. The Company was one of seventeen companies halted
today for lack of public information and understands the SEC's role to ensure
current information is provided to protect shareholders. The Company is working
diligently to remedy the situation. The Company appreciates its shareholders
support and patience as we continue to move Mind Technologies forward.
About Mind Technologies, Inc.
Mind Technologies, Inc. develops software for thought controlled technologies,
allowing the user to interact with the computer and other machines through the
power of the mind. The technology involves the use of a wireless headset, which
detects brainwaves on both the conscious and non-conscious level. This
revolutionary neural processing technology makes it possible for computers to
interact directly with the human brain. The Company creates medical applications
and video games that are controlled by the power of your mind.
FORWARD-LOOKING STATEMENTS
From time to time, the Company may issue news releases that contain
"forward-looking statements" within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is
subject to the safe harbor created by those sections. This material may contain
statements about expected future events and/or financial results that are
forward-looking in nature and subject to risks and uncertainties. For those
statements, the Company claims the protection of the safe harbor for
forward-looking statement provisions contained in the Private Securities
Litigation Reform Act of 1995 and any amendments thereto. Any statements that
express or involve discussions with respect to predictions, expectations,
beliefs, plans, projections, objectives, goals, assumptions, or future events or
performance are not statements of historical fact and may be "forward-looking
statements." "Forward-looking statements" are based upon expectations, estimates
and projections at the time the statements are made that involve a number of
risks and uncertainties that could cause actual results or events to differ
materially from those anticipated.
SOURCE Mind Technologies, Inc.
http://www.prnewswire.com
Copyright (C) 2011 PR Newswire. All rights reserved
-0-
http://www.otcmarkets.com/stock/MTEK/news
KEYWORD: California
INDUSTRY KEYWORD: CPR
STW
Source: Comtext Market News
MTEK News -- DJ 2nd UPDATE: SEC Halts Trading In 17 'Penny Stocks'
Tuesday, June 7, 2011 3:26 PM
Scottrade.com
This email is compliments of Scottrade.com
News for 'MTEK' - (DJ 2nd UPDATE: SEC Halts Trading In 17 'Penny Stocks')
http://www.otcmarkets.com/stock/MTEK/news/Suspension-of-Trading?id=31430&b=y
(Adds new details in the second, 13th, 14th and 15th paragraphs.)
By Jessica Holzer and Melodie Warner
Of DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)--The Securities and Exchange Commission halted trading in 17 microcap stocks it said had been hyped by Internet promoters despite a lack of reliable information publicly available about the companies.
The mass-trading suspensions represent the SEC's first action to call attention to possible "penny stock" promotion schemes since it began a stepped-up effort last autumn to crack down on the proliferation of microcap-stock fraud.
The SEC said stock-touting websites, Twitter users and often anonymous individuals posting to message boards have swayed the investing decisions of the public, which often doesn't have adequate information about the securities.
Companies don't necessarily have to file periodic reports with the SEC for their shares to trade, particularly in the over-the-counter markets, where the stocks subject to Tuesday's trading halt were bought and sold. But rules require brokers, issuers and others to disseminate only accurate information about a company in connection with a securities sale or offering.
As an example, the SEC said one of the companies, Calypso Wireless Inc. (CLYW), hasn't filed periodic reports to the SEC since February 2008. The company's shares rose to an intra-day high of 17 cents on Sept. 24, the same day a stock-promoting website allegedly encouraged investors to continue buying the stock. The stock traded at 4 cents on Sept. 21.
In another example, several stock-promoting websites promoted Kore Nutrition Inc. (KORE) as a "winner" following the company's disclosures on Sept. 1 and 8, 2010, of new distribution agreements to market its energy drinks and the release of a company-funded research report that pegged the stock at $10.50. But the company's Sept. 30, 2010, quarterly report didn't mention the distribution agreements.
Calypso didn't immediately return a request for comment; Kore couldn't be reached.
"They may be called penny stocks, but victims of microcap fraud can suffer devastating losses," said Robert Khuzami, director of the SEC's division of enforcement.
Aside from Calypso Wireless and Kore Nutrition, the SEC halted trading in American Pacific Rim Commerce Group (APRM), Anywhere MD Inc. (ANWM), Cascadia Investments Inc. (CDIV), CytoGenix Inc. (CYGX), Emerging Healthcare Solutions Inc. (EHSI), Evolution Solar Corp. (EVSO), Global Resource Corp. (GBRC), Go Solar USA Inc. (GSLO), Laidlaw Energy Group Inc. (LLEG), Mind Technologies Inc. (MTEK), Montvale Technologies Inc. (IVVI), MSGI Security Solutions Inc. (MSGI), Prime Star Group Inc. (PSGI), Solar Park Initiatives Inc. (SOPV) and U.S. Oil & Gas Corp. (USOG).
Trading in the stocks will be frozen through Friday, June 17.
After the shares resume trading, brokers and other financial intermediaries will have a heightened obligation to ensure the publicly available information about the companies' operations and financial condition is accurate.
Last autumn, the SEC started a nationwide initiative aimed at targeting what are known as the gatekeepers in microcap fraud--brokers, lawyers, auditors, transfer agents and others that spread misleading information about companies--and bringing actions against them for multiple violations. The effort represents a shift from the SEC's previous strategy of going after microcap issuers one by one for single violations. The effort encompasses staff from all 11 regional SEC offices as well as numerous SEC divisions and offices aside from the enforcement division.
Microcap stocks are vulnerable to fraudulent schemes because it is often easy for a bad actor to gain control over a large portion of the shares, hype the company to investors based on misleading information and then dump the stock.
While many microcap companies are legitimate startups, a large portion are suspected of being complicit in such schemes or, at the very least, unwilling to correct false or outdated information being used by others to stir up interest in the stock, SEC officials said.
http://www.otcmarkets.com/stock/MTEK/news/Suspension-of-Trading?id=31430&b=y
-By Jessica Holzer, Dow Jones Newswires; 202-862-9228;
-By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com
(END) Dow Jones Newswires
June 07, 2011 15:26 ET (19:26 GMT)
Copyright (c) 2011 Dow Jones & Company, Inc.- - 03 26 PM EDT 06-07-11
Source: DJ Broad Tape
What a joke...
What do the MMs have to resolve? They manipulate and do what they want every day- but that's all fine.
Specific to MTEK ( excerpt from the Suspension ) : " Mind Technologies, Inc. is a Nevada corporation based in California. Questions have arisen concerning the accuracy of its financial statements. "
So, MTEK will definitely need to resolve those specific SEC concerns before any Market Maker will remotely consider representing the stock.
FINRA 15c2-11 and Form 211 questions and answers:
Here is the full list of FINRA's questions and answers regarding SEC Rule 15c2-11 and Form 211's.
http://finra.complinet.com/en/display/display_viewall.html?rbid=2403&element_id=1714&print=1
92-50 Procedures Regarding Securities and Exchange Commission Rule 15c2-11 and Schedule H, Section 4 of the NASD® By-Laws
SUGGESTED ROUTING:*
Senior Management
Corporate Finance
Government Securities
Institutional
Internal Audit
Legal & Compliance
Municipal
Operations
Syndicate
Trading
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*These are suggested departments only. Others may be appropriate for your firm.
EXECUTIVE SUMMARY
In response to questions by members, issuers, and the legal community, the NASD is issuing this Notice to Members to address frequently raised questions regarding Schedule H, Section 4 of the NASD By-Laws relating principally to compliance with Securities and Exchange Commission (Commission or SEC) Rule 15c2-11. This section of Schedule H is described in Notice to Members 90-40. It requires broker/dealers to submit information to the NASD gathered pursuant to SEC Rule 15c2-11 before initiating or resuming a quotation of a non-Nasdaq over-the-counter equity security in any quotation medium. Section 4 also requires members to specify the basis and factors considered in establishing their initial priced entries for a non-Nasdaq over-the-counter equity security before such entry may be published in any quotation medium. In preparing this Notice, the NASD has received comments from the staff of the Division of Market Regulation of the SEC; however, the views expressed in this Notice represent those of the NASD.
INTRODUCTION
SEC Rule 15c2-11 governs the submission and publication of quotations by brokers and dealers for certain non-Nasdaq over-the-counter equity securities. Specifically, the rule applies to a broker/dealer's initiation or resumption of quotations for such securities in any interdealer quotation medium, including the NASD's OTC Bulletin Board" and National Quotation Bureau, Inc.'s "Pink Sheets" ("pink sheets"). Pursuant to the rule, brokers and dealers are required to review and maintain specified information about the issuer of the security before publishing a quotation for that security.
Unless an exception to Rule 15c2-11 is available, the rule can be satisfied in one of only five ways: (1) the broker/dealer must have in its possession a prospectus specified by Section 10(a) of the Securities Act of 1933 (Securities Act) that has been filed with the Commission and which has been in effect less than 90 calendar days; or (2) the broker/dealer must have a copy of the offering circular provided for under Regulation A of the Securities Act and the effective date must be within the preceding 40 days; or (3) the issuer must be current in its filings with the Commission and the broker/dealer must have in its possession the issuer's latest Form 10-K and all subsequent Form 10-Qs and Form 8-Ks; or (4) the issuer must be exempt from Section 12(g) of the Securities Exchange Act of 1934 (Exchange Act) pursuant to Rule 12g3-2(b) and the broker/dealer must have in its possession all the information furnished to the Commission during the issuer's last fiscal year; or (5) the broker/dealer must have in its possession 16 items of information about the issuer, including financial information which shall be reasonably current in relation to the day the quotation is submitted.
Paragraph (g)(1) of Rule 15c2-11 provides that the required financial information with respect to the issuer will be presumed to be reasonably current, unless the broker/dealer has information to the contrary, if the balance sheet is as of a date less than 16 months before the submission or publication of the quotation; the statements of profit and loss and retained earnings are for the 12 months preceding the date of such balance sheet; and, if such balance sheet is not as of a date less than six months before the submission or publication of the quotation, is accompanied by additional statements of profit and loss and retained earnings for the period from the date of such balance sheet to a date less than six months before the submission or publication of the quotation.
Information that does not satisfy the time frame of paragraph (g)(1) of Rule 15c2-11, is presumptively not reasonably current. Broker/dealers seeking to rely on information outside of the time frame must affirmatively establish that the financial information is reasonably current.
Documentation compiled by a member pursuant to Rule 15c2-11 must be filed with the NASD pursuant to Schedule H, Section 4 of the By-Laws together with a completed Form 211 at least three business days prior to entering a quotation in a quotation medium. Upon receipt, the NASD conducts a substantive review of the material and within three business days, notifies the broker/dealer whether the application has cleared such that quotation activity may begin or, alternately identifies deficiencies in the submission which must be resolved prior to a member being permitted to enter a quotation in a quotation medium.
The following is a compilation of questions and answers relative to SEC Rule 15c2-11, the NASD's OTC Bulletin Board, and Schedule H of the NASD By-Laws.
QUESTIONS
Rule 15c2-11, Informational Requirements
Question #1: What degree of scrutiny must a broker/dealer give the required Rule 15c2-11 documentation prior to submitting the information to the NASD seeking clearance to publish a quotation?
Answer: Prior to submitting the information to the NASD, a broker/dealer must have a reasonable basis for believing that the information is accurate in all material respects and is obtained from a reliable source.
Question #2: What steps should a broker/dealer take to have a reasonable basis to believe that the information is accurate in all material respects?
Answer: A broker/dealer must review the material for obvious errors, internal inconsistencies, and questionable disclosures. This review must be in the context of all other information about the issuer in the broker/dealer's knowledge or possession, including the information required by paragraph (b).
Question #3: What are the requirements of Rule 15c2-11 paragraph (b)?
Answer: Paragraph (b) requires a broker/dealer to have in its possession: (1) A record of the circumstances surrounding the quotation request, including the identity of the person for whom the quotation is being submitted, (2) a copy of the trading suspension order or the Commission release announcing the suspension if the security has been suspended by the Commission during the last 12 months, and (3) a copy or written record of other material information, including adverse information, that the broker/dealer becomes aware of prior to publishing a quotation.
Question #4: What steps should a broker/dealer take to have a reasonable basis to believe that the information is obtained from a reliable source?
Answer: Generally, a broker/dealer can be satisfied that information is obtained from a reliable source if it is received from the issuer or its agents, or was obtained from an independent information service such as the Commission's public reference room. If a broker/dealer receives information about an issuer from another market maker or someone other than an agent of the issuer, the broker/dealer should verify the validity of the information with the issuer. Agents do not include promoters or others outside the issuer that may have a personal or an indirect interest in the security.
Question #5: Under what circumstances would a broker/dealer be required to take further steps to have a reasonable basis to believe that the information is accurate in all material respects and the sources of the information are reliable?
Answer: Ordinarily the broker/dealer need not do any further review unless a potential material deficiency has been detected. Examples of potential material deficiencies are material inconsistencies in the information or between the information and other information in the broker/dealer's possession, a qualified auditor's report, a recently acquired asset that materially enhances the financial condition of the issuer, or a material asset listed on the balance sheet that is unrelated to the issuer's business.
Question #6: What should a broker/dealer do if a potential material deficiency is detected in the documents?
Answer: A broker/dealer's specific efforts to satisfy itself with respect to the accuracy of the information if a potential material deficiency has been detected will vary with the circumstances, and may require the broker/dealer to obtain additional information or seek to verify existing information. For example, the broker/dealer may be satisfied that the information is correct after questioning the issuer, or the broker/dealer may need to consult an independent source, such as an attorney or accountant. Regardless of the methodology used to review a potential material deficiency, members are required to maintain in their records any other material information (including adverse information) regarding the issuer which comes to the member's knowledge or possession before the publication or submission of the quotation. Members are also strongly urged to document the manner in which the material deficiencies are resolved.
Question #7: May a broker/dealer satisfy its obligation to review the required information and have a reasonable belief as to its accuracy and the reliability of its source solely because its documentation has been reviewed by the NASD?
Answer: No. A broker/dealer must independently satisfy the requirements of Rule 15c2-11. Clearance by the NASD to initiate quotations in a quotation medium is not a substitute for this review.
Question #8: Are a wholesale market maker's obligations under Rule 15c2-11 any different than a retail market maker's obligations?
Answer: No. Commission Release No. 34-29094 states that the rule is directed at the fraudulent, deceptive, or manipulative potential of a broker/dealer's quotations, and does not focus on whether the broker/dealer also engages in retail activity.
Question #9: Can a supplemental prospectus satisfy Rule 15c2-11(a)(1)?
Answer: Yes. As long as the supplemental prospectus is filed pursuant to Section 10(a) of the Securities Act and includes sufficient information about the issuer to enable the broker/dealer to satisfy its obligation under Rule 15c2-11, i.e., it contains the types of information described in Rule 15c2-11(a)(5). However, if the issuer meets the requirements of Rule 15c2-11(a)(3), the broker/dealer must obtain the documents required by Rule 15c2-11(a)(3).
Question #10: Is the issuer required to be current in its filings with the Commission in order for the broker/dealer to utilize Rule 15c2-11(a)(3)?
Answer: Yes. Issuers that meet the requirements of Rule 15c2-11(a)(3) are those issuers that report to the Commission and are current in their reports. The broker/dealer must have the issuer's latest Form 10-K and all subsequent Form 10-Qs and those Form 8-Ks filed within five business days prior to publication or submission of the quotation. If the issuer has not filed a Form 10-K, the broker/dealer must have a copy of the prospectus, which has been in effect less than 16 months, and all subsequent Form 10-Qs and Form 8-Ks. If a filing is due at the Commission prior to the NASD's clearance of the Form 211 application, that filing must also be submitted with the application.
Question #11: What happens if an issuer is not current in its filings with the Commission?
Answer: If the issuer is not current in its filings with the Commission, the broker/dealer can seek to satisfy another subsection of the rule. Usually this would be Rule 15c2-11(a)(5). However, the fact that the issuer is not current in its filings may bear upon the determination of whether the available information is materially accurate.
Question #12: Can banks that file Form 10-Ks and Form 10-Qs with the Office of Thrift Supervision or other bank regulators satisfy Rule 15c2-11(a)(3)?
Answer: If the reports are filed pursuant to Section 13 or 15(d) of the Exchange Act with bank regulators, the reports will satisfy Rule 15c2-11(a)(3).
Question #13: What information is required to be submitted under Rule 15c2-11(a)(4) relating to certain foreign issuers which are exempt from the periodic reporting requirements of Section 12(g) of the Exchange Act?
Answer: The broker/dealer is required to submit all the information that the issuer has furnished during its past fiscal year to the Commission in order for the issuer to maintain its Rule 12g3-2(b) exemption.
Question #14: Must the financial information required under Rule 15c2-11(a)(5) be independently audited?
Answer: No. Rule 15c2-11(a)(5) does not require audited financials. However, a broker/dealer would ordinarily be required to review unaudited financial statements more closely than if the statements were independently audited. Nevertheless, simply because the statements have been audited, a broker/dealer cannot avoid its responsibility to review the financial statements in order to have a reasonable basis to believe that the information is accurate.
Question #15: If an issuer has filed a Form 10-K or a prospectus with the Commission and the issuer is current in its reports to the Commission, can the broker rely on Rule 15c2-11(a)(5)?
Answer: No. If an issuer has filed a 10-K or prospectus with the Commission and is current in its reports, the broker must file under, and have in its possession the information required by, Rule 15c2-11(a)(3).
Question #16: What are the requirements for a broker/dealer if the issuer or its predecessor has been the subject of a Commission trading suspension during the preceding year?
Answer: An SEC trading suspension should alert the broker/dealer to the possibility that information in its possession concerning the issuer may no longer be current or accurate. The broker/dealer must be particularly cautious when seeking to reinstate quotations following an SEC trading suspension. The member must obtain a copy of the Commission trading suspension order or the Commission release announcing the trading suspension. A broker/dealer should, at a minimum, receive assurances or additional information with respect to matters cited in the suspension order or with respect to other matters affecting the broker/dealer's reasonable belief as to the accuracy of the information. Reliance on new information or assurances from prior sources of information in these circumstances, however, requires caution. In exceptional cases, where the source is unable to provide reasonable assurances about the reliability of the information, consultation with an independent accountant or attorney may be warranted. All information gathered in the broker/dealer's investigation of the issues must accompany the Form 211 application.
Rule 15c2-11 Exceptions
Question #17: Are there any exceptions from the informational requirements of Rule 15c2-11?
Answer: Yes. If a broker/dealer can meet one of the exceptions of Rule 15c2-11, it is not required to maintain or submit to the NASD any documents required by Rule 15c2-11. These exceptions primarily relate to instances where a broker/dealer wishes to quote a security that: is traded on a national securities exchange in the United States; represents unsolicited customer interest; has been the subject of regular and continuous quotations for the past 30 days; or is traded on Nasdaq.
Question #18: When does the Rule 15c2-11(f)(1) "exchange" exception apply?
Answer: The exchange exception applies to securities that are traded on a United States national securities exchange on the same day or the business day prior to the day the application is made to the quotation medium.
Question #19: If the common stock of an issuer trades on the New York Stock Exchange, are the warrants of the same issuer exempt from Rule 15c2-11?
Answer: No. The exception relates only to specific securities and not to the issuer. Each security must independently meet the requirements of the exception.
Question #20: If trading in a security is halted or suspended on Nasdaq or an exchange, but the security has not been officially delisted from Nasdaq or the exchange, can it be listed on the OTC Bulletin Board?
Answer: No. The OTC Bulletin Board is only for non-Nasdaq, non-U.S. exchange-listed securities. Dual listing is not permitted. Until a security is officially delisted from an exchange or Nasdaq, it cannot be entered on the OTC Bulletin Board.
Question #21: If the broker/dealer is claiming the Rule 15c2-11(f)(2) "unsolicited customer interest" exception of Rule 15c2-11, can the broker/dealer publish quotations for the security in a quotation medium for its own account?
Answer: No. If the broker/dealer claims the unsolicited customer interest exception, it can only publish or submit a quotation for that customer account. If the broker/dealer wishes to publish or submit a quotation for its own account or any other accounts, it must comply with Rule 15c2-11. Paragraph (f)(2) of Rule 15c2-11 does not apply to a quotation consisting of both a bid and an offer, each at a specified price, unless the quotation medium specifically identifies the quotation as representing a customer's unsolicited indication of interest.
Question #22: Will the NASD be monitoring the broker/dealer's compliance with the unsolicited customer interest exception?
Answer: Yes. The NASD monitors all aspects of broker/dealer compliance with Rule 15c2-11, including a quotation utilizing the unsolicited customer interest exception. The NASD may require the broker/dealer to produce its trading records and other documents to determine whether the broker/dealer traded for any account other than the indicated customer.
Question #23: What are the requirements of Rule 15c2-11(f)(3), the "piggyback" exception?
Answer: If a broker/dealer is relying on the Rule 15c2-11(f)(3) exception, the security must be quoted in the same interdealer quotation medium as the intended quotation during the past 30 calendar days, and that during those 30 days the security had to be quoted on at least 12 days without more than four consecutive business days without quotations.
Question #24: Do "name only" quotations satisfy the piggyback exception requirement that the security be quoted in the quotation medium?
Answer: Yes. The information requirements of Rule 15c2-11 apply to name only as well as priced quotations. Both types of quotations can be used to satisfy the piggyback exception. It should be noted, however, that each broker/dealer submitting a quotation must satisfy the informational requirements of Rule 15c2-11 until all of the requirements of the piggyback exception, including the 30-day quotation period, have been satisfied.
Question #25: What happens when a security is no longer quoted by a broker/dealer in the quotation medium?
Answer: If a security is not quoted by any broker/dealer for a period of more than 4 business days, the security no longer qualifies for the piggyback exception. A broker/dealer would be required to comply with Rule 15c2-11 before it could initiate or resume quotation of the security.
Question #26: What constitutes a "business day" for purposes of Rule 15c2-11?
Answer: For purposes of Rule 15c2-11, a "business day" is defined by reference to the quotation medium to which a broker/dealer submits the quotation. Any day that the quotation medium accepts and disseminates quotations would constitute a "business day" under Rule 15c2-11.
Question #27: Must a broker/dealer quote a security for an entire "business day" to qualify for the "piggyback" exception contained in paragraph (f)(3)ofRulel5c2-11?
Answer: Under the "piggyback" exception, a security will be deemed to have been quoted on a business day where a broker/dealer has continuously quoted a security for all or a substantial portion of that day. The existence of closing quotations on the OTC Bulletin Board may be used by the NASD to create a rebuttable presumption that the broker/dealer continuously quoted a security for a substantial portion of the business day.
Question #28: If a security qualifies for the piggyback exception in one quotation medium, does it meet the piggyback exception for other quotation mediums? For example, if a security is quoted in the OTC Bulletin Board, can a market maker quote the security in the "pink sheets" without filing a Form 211 application?
Answer: No. The staff of the SEC takes the position that the piggyback exception does not transfer from one quotation medium to another. Thus, quotations for a security in the OTC Bulletin Board may not be used to satisfy the piggyback requirements for the "pink sheets."
Question #29: What are the requirements of Rule 15c2-11(f)(5), the "Nasdaq" exception?
Answer: In order for a broker/dealer to rely on the Nasdaq exception, the security must be authorized for quotation on Nasdaq and the authorization must not be suspended, terminated, or prohibited.
Question #30: Can a broker/dealer publish a quotation on the OTC Bulletin Board for a security that is currently traded on Nasdaq?
Answer: No. The OTC Bulletin Board does not allow quotations for Nasdaq securities.
Question #31: If the common stock and units of an issuer are already quoted on the OTC Bulletin Board, does a Form 211 application need to be submitted for the warrants of the same issuer?
Answer: Yes. Rule 15c2-11 applies to securities, not issuers. Quotations for the common stock and units may be in compliance with Rule 15c2-1 1, but that does not qualify any other securities of the issuer. Accordingly, a completed Form 211 and the Rule 15c2-11 information would have to be submitted for the warrants. However, if the broker/dealer has previously submitted documents relating to the issuer that continue to meet the requirements of Rule 15c2-11, it need not refile identical documents. The broker/dealer need only submit a completed Form 211 alone or with any additional documents needed to comply with Rule 15c2-11.
Schedule H and OTC Bulletin Board Questions
Question #32: What must be included in the basis and factors for a broker/dealer's initial priced entry?
Answer: A broker/dealer's basis and factors should relate to the price that the broker/dealer is proposing. The statement on the Form 211 must be concise and directly related to the proposed bid and/or offer. The basis and factors should not be broad generalized statements but should articulate how the priced quotation was determined, including the factors taken into consideration. The NASD is not conducting merit review but must be able to clearly understand the basis for the initial priced entry.
Question #33: If a broker/dealer's Rule 15c2-11 documentation has been cleared by the NASD, but the broker/dealer did not request clearance for a priced quotation, is the broker/dealer required to file anything additional when it changes its unpriced quotation to a priced quotation?
Answer: Yes. The broker/dealer must supplement its original application with the Form 211 indicating the intended priced entry and the basis and factors even if other broker/dealers are publishing priced quotations for the security or a piggyback exception has become available.
Question #34: Can Form 211 applications be faxed to the NASD?
Answer: No. The original Form 211 must be mailed and requires original signatures.
Question #35: If a security on the OTC Bulletin Board appears in the "eligible" status, can a broker/dealer enter quotations without filing a Form 211 application?
Answer: No. The "eligible" status on the OTC Bulletin Board indicates that another broker/dealer has been cleared to quote the security, but the piggyback exception of Rule 15c2-11 has not been met. When the status for a security on the OTC Bulletin Board is "active" a broker/dealer may enter quotes without filing the Form 211 application.
Question #36: What are the filing requirements of Schedule H if another security of the issuer is trading on Nasdaq, i.e., if a broker/dealer wishes to quote the warrants of an issuer that has a common stock listed on Nasdaq?
Answer: Since an issuer that has a security trading on Nasdaq will be a reporting company, the broker/dealer need only submit the Form 211 and indicate on the Form 211, under Rule 15c2-11(a)(3), the reports that the broker/dealer has in its possession. These reports would include the issuer's latest Form 10-K and all subsequent Form 10-Qs and Form 8-Ks. In this case the Form 211 can be faxed to the NASD.
Question #37: Is there an expedited procedure for listing recently delisted Nasdaq securities on the OTC Bulletin Board?
Answer: Yes. On February 28, 1992, the SEC granted an exemption from Rule 15c2-1 1 for securities that will be delisted from Nasdaq due to the revised listing and maintenance requirements for the Nasdaq Small-Cap Market.SM When these securities are delisted, they will automatically be eligible to quote on the OTC Bulletin Board or any other quotation medium the next business day without the filing of a Form 211, as long as the following requirements are met:
(1) The security must have been traded on Nasdaq for the past 30 days;
(2) The issuer must not be subject to bankruptcy proceedings;
(3) The issuer must be current in its SEC reporting requirements; and
(4) The broker/dealer relying on this exception must have been a market maker in the subject security during the 30 days prior to delisting.
Question #38: Can more than one security of an issuer be included on a Form 211?
Answer: Yes. More than one security for a single issuer may be requested on a single Form 211.
Question #39: Can a broker/dealer accept payment to make a market in an issuer's securities?
Answer: No. A market maker cannot accept any form of compensation, including cash, securities, products, or services, for the purposes of making a market, to cover out-of-pocket expenses for making a market, or for submitting an application to make a market in an issuer's securities. This activity was addressed in Notice to Members 75-16 in 1975.
Question #40: Can a broker/dealer rely on the inside market (high bid, low ask prices) calculated on the OTC Bulletin Board in executing retail transactions?
Answer: No. Broker/dealers cannot execute transactions in non-Nasdaq over-the-counter equity securities based on the prices of any non-validated quotations. Members should be aware that the best indication of the prevailing market price is the actual trades that are occurring in the marketplace and not the quotations appearing on the OTC Bulletin Board or other quotation mediums. As the Commission stated in the leading decision of Alstead, Dempsey & Company, Incorporated (SEC Release No. 34-20825, April 5, 1984): "By their very nature, quotations only propose a transaction: they do not reflect the actual result of a completed arms-length sale. Thus, as we have frequently pointed out, quotations for obscure securities with limited inter-dealer trading activity may have little value as evidence of the current market." (See Notice to Members 92-16).
Question #41: If the OTC Bulletin Board displays three firm quotations, is a broker/dealer required by Article III, Sections 1 and 21 (b) of the NASD Rules of Fair Practice, to call the market makers to verify their quotations appearing on the OTC Bulletin Board?
Answer: No. The broker/dealer does not have to call the three market makers to verify the firm quotations that are displayed on the screen. A broker/dealer need only note on the order ticket the identity of the broker/dealers and the firm quotations obtained from the OTC Bulletin Board.
Question #42: If the OTC Bulletin Board has one firm quote and two name only quotations, is the broker/dealer required to call the name-only market makers to determine their quotations?
Answer: Yes. If there are fewer than three firm quotations on the OTC Bulletin Board, the broker/dealer must call the name-only market makers to obtain the three required quotations.
Question #43: What is the broker/dealer's obligation if the OTC Bulletin Board has fewer than three market makers listed?
Answer: The broker/dealer must check the "pink sheets" or any other quotation medium for additional market makers. A market maker in these quotation mediums must be contacted to obtain its current quotations. If three market makers cannot be found, then the broker/dealer need only contact the one or two that were found.
Question #44: If the OTC Bulletin Board has three non-firm priced quotations in a foreign security, must a broker/dealer contact each market maker?
Answer: Yes. Non-firm quotations on the OTC Bulletin Board cannot be used to satisfy the requirement that quotations be obtained from other market makers.
Question #45: Does Rule 15c2-1 1 and Schedule H apply to secondary market transactions in direct participation program securities?
Answer: Yes. Both Rule 15c2-11 and all of the sections of Schedule H apply. Pursuant to Schedule H, Section 4, members are required to submit their Rule 15c2-11 information to the NASD prior to publishing quotations. Moreover, members must report their volume in secondary market transactions, and certain pricing information in direct participation program trading as required by Schedule H, Section 2 of the NASD By-Laws. For more information on trade reporting for these securities, please call Automated Reports at (301) 590-6887. In addition, a separate Notice will be issued addressing this subject.
Question #46: Where can a broker/dealer get more information on the subjects discussed in this Notice?
Answer: All interested broker/dealers should read Rule 15c2-11, Commission Release No. 34-29094, Schedule H, Section 4 of the NASD By-Laws, and Notice to Members 90-40. Additionally, the Compliance Division's OTC Compliance Unit (202) 728-8149 is available throughout the business day and by voice mail during non-business hours to respond to inquiries or to direct the caller to the appropriate party. We encourage members to call with their questions and inquiries.
For more information contact Daniel M. Sibears, Director, Compliance Division, at (202) 728-8959 or Ken Worm, Manager, OTC Compliance Unit, at (202) 728-8149. Also, broker/dealers with questions regarding Rule 15c2-11 may contact the Office of Trading Practices, Division of Market Regulation, Securities and Exchange Commission at (202) 272-2848.
MTEK will need to do more than file quarterly Financials, but it's a darn good start.
MTEK News Mind Technologies, Inc. to Begin Filing Quarterly
Tuesday, June 7, 2011 2:11 PM
Scottrade.com
This email is compliments of Scottrade.com
News for 'MTEK' - (Mind Technologies, Inc. to Begin Filing Quarterly Financials)
http://www.otcmarkets.com/stock/MTEK/news
CARDIFF, Calif., June 7, 2011 /PRNewswire via COMTEX/ -- Mind Technologies,
Inc. (http://mindtechnologiesinc.com) (Pink OTC: MTEK), announced this morning
that The Company will begin filing quarterly financials to provide shareholders
updated, current information. The Board of Directors resolved to this action as
a result of receiving a ten day temporary trade halt on MTEK. The Company is
finalizing first and second quarter financial statements, to be filed publicly
as soon as possible. It is the Company's goal to bring the public information
current immediately to resume the trading status of MTEK. The Company will
update shareholders on the progress and announce in a press release when trading
has resumed.
The Company has elected to accelerate its financial filings on a quarterly basis
to provide transparency to its shareholders and avoid temporary trading
disruptions in the future. The Company was one of seventeen companies halted
today for lack of public information and understands the SEC's role to ensure
current information is provided to protect shareholders. The Company is working
diligently to remedy the situation. The Company appreciates its shareholders
support and patience as we continue to move Mind Technologies forward.
About Mind Technologies, Inc.
Mind Technologies, Inc. develops software for thought controlled technologies,
allowing the user to interact with the computer and other machines through the
power of the mind. The technology involves the use of a wireless headset, which
detects brainwaves on both the conscious and non-conscious level. This
revolutionary neural processing technology makes it possible for computers to
interact directly with the human brain. The Company creates medical applications
and video games that are controlled by the power of your mind.
FORWARD-LOOKING STATEMENTS
From time to time, the Company may issue news releases that contain
"forward-looking statements" within the meaning of Section 27A of the Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is
subject to the safe harbor created by those sections. This material may contain
statements about expected future events and/or financial results that are
forward-looking in nature and subject to risks and uncertainties. For those
statements, the Company claims the protection of the safe harbor for
forward-looking statement provisions contained in the Private Securities
Litigation Reform Act of 1995 and any amendments thereto. Any statements that
express or involve discussions with respect to predictions, expectations,
beliefs, plans, projections, objectives, goals, assumptions, or future events or
performance are not statements of historical fact and may be "forward-looking
statements." "Forward-looking statements" are based upon expectations, estimates
and projections at the time the statements are made that involve a number of
risks and uncertainties that could cause actual results or events to differ
materially from those anticipated.
SOURCE Mind Technologies, Inc.
http://www.prnewswire.com
Copyright (C) 2011 PR Newswire. All rights reserved
-0-
http://www.otcmarkets.com/stock/MTEK/news
KEYWORD: California
INDUSTRY KEYWORD: CPR
STW
Source: Comtext Market News
Small world PoemStone. You must have been using your Mind Technology..LOL
Been following for a while now. Since I gave up my 8 mod positions, I have plenty of free time to seek out nice mid to long term plays.
PoemStone...
To get me started with what exactly?
pickl. Looking in and here you are. This one will be some fun anyway.
What reason would someone sell at this level for?
I don't foresee a sell-off.
As an investor, I wasn't happy until I read the PR(s) and now I get it and can deal with the suspension. If they do not follow through (no reason to think they won't) and file accordingly, then I will be pissed.
They're not the only company this happened to and if you look at the big picture, this may actually end up being positive for the company. and its investors
yes, however, investors don't like having their shares locked up one bit. I will be watching either way. Good luck to all
There will be a short squeeze:more transparancy, upgrading from 'limited information status' to 'current information status', ... This will make MTEK even more interesting for investors.
There will most likely be a big sell off when trading resumes, then longs can swoop in and collect the cheap shares. MTEK should be very transparent now, if they wish to remain in the game..Win win
MTEK starting to do quarterly financials!Current information on pinksheets.com will be the next step (that's what you get when reporting the financials every quarter). BINGOOOOOOOOOOOOOOOOOOOOOOO!!!!!
Look closer....They repeatedly put out fluff news, talk of a nebulous and totally unproven $50 mil value of the Euro sub, which barely trades, restate financials (unaudited of course)
And now, MTEK will be relegated to the grey sheets, as (most likely) no MM will ever step up and file a Form 211 (pursuant to rule 15c-211) in order for a bid/ask to be published.
Welcome to grey sheet hell, homies
SEC Suspends Trading in 17 Companies in Proactive Effort to Combat Microcap Stock Fraud
FOR IMMEDIATE RELEASE
2011-120
Washington, D.C., June 7, 2011–The Securities and Exchange Commission today suspended trading in 17 microcap stocks because of questions about the adequacy and accuracy of publicly available information about the companies, which trade in the over-the-counter (OTC) market.
The trading suspensions spring from a joint effort by SEC regional offices in Los Angeles, Miami, New York, and Philadelphia; its Office of Market Intelligence; and its new Microcap Fraud Working Group, which uses a coordinated, proactive approach to detecting and deterring fraud involving microcap securities. The trading suspensions follow a similar suspension last week against Uniontown Energy Inc. (UTOG), based in Henderson, Nev., and Vancouver, Canada.
Additional Materials
Trading Suspension
Order
“They may be called ‘penny stocks,’ but victims of microcap fraud can suffer devastating losses,” said Robert Khuzami, Director of the SEC’s Division of Enforcement. “The SEC’s new Microcap Fraud Working Group is targeting the insiders and promoters, as well as the transfer agents, attorneys, auditors, broker-dealers, and other “gatekeepers” who flourish in the shadows of this less-than-transparent market.”
George Canellos, Director of the SEC’s New York Regional Office, added, “The investing public does not have accurate or adequate information about these securities to use in making informed investment decisions. Nonetheless, stock-touting websites, twitter users, and often anonymous individuals posting to Internet message boards have hyped many of these companies, and these promotional campaigns have been followed by spikes in share price and trading volume.”
The 17 companies and their ticker symbols are:
American Pacific Rim Commerce Group (APRM), based in Citra, Fla.
Anywhere MD, Inc. (ANWM), based in Altascadero, Calif.
Calypso Wireless Inc. (CLYW), based in Houston.
Cascadia Investments, Inc. (CDIV), based in Tacoma, Wash.
CytoGenix Inc. (CYGX), based in Houston.
Emerging Healthcare Solutions Inc. (EHSO), based in Houston.
Evolution Solar Corp. (EVSO), based in The Woodlands, Texas.
Global Resource Corp. (GBRC), based in Morrisville, N.C.
Go Solar USA Inc. (GSLO), based in New Orleans.
Kore Nutrition Inc. (KORE), based in Henderson, Nev.
Laidlaw Energy Group Inc. (LLEG), based in New York City.
Mind Technologies Inc. (METK), based in Cardiff, Calif.
Montvale Technologies Inc. (IVVI), based in Montvale, N.J.
MSGI Security Solutions Inc. (MSGI), based in New York City.
Prime Star Group Inc. (PSGI), based in Las Vegas, Nev.
Solar Park Initiatives Inc. (SOPV), based in Ponte Verde Beach, Fla.
United States Oil & Gas Corp. (USOG), based in Austin, Texas.
Some examples of the promotions are as follows:
Calypso Wireless Inc. has not filed periodic reports since February 2008, when it filed a report for the period ending Sept. 30, 2007. Despite that, the company’s share price rose from 4 cents on Sept. 21, 2011 to an intra-day high of 17 cents on Sept. 24, 2011. Over the same period, trading volume jumped to nearly six million shares, up from 376,000 shares. On Sept. 24, 2011, a stock-promoting website encouraged investors to continue buying Calypso Wireless shares (PINK: CLYW, CLYW message board), stating, in part, “Over the week, CLYW stock has been running wild … This CLYW stock rush happened just like that, on no company’s news and on old, well known SEC filings, done for the investment community.”
Shares in Kore Nutrition Inc. began to spike on Aug. 31, 2010, following the release of a company-paid research report setting a target price of $10.50. Moreover, on Sept. 1 and 8, 2010, the company issued press releases announcing new distribution agreements to market its energy drinks. The research report and distribution agreement claims were reiterated on numerous stock-promotion websites, touting Kore Nutrition as a “winner.” Kore Nutrition’s quarterly report for the period ending Sept. 30, 2010, filed with the SEC on Nov. 15, 2010, made no mention of the announced distribution agreements.
Montvale Technologies Inc. announced the dissolution of the company on Feb. 12, 2010, and last filed financial statements with the SEC for the third quarter of 2009. The company’s shares have nonetheless continued to trade, and to be promoted. On Dec. 22, 2010, a website recommended a “closer look” at Montvale Technologies, claiming it “has the potential to do very well in the short term.” That day, the share price rose 75 percent from 12 cents to 20 cents, and trading volume soared 500 percent over the prior day.
The Microcap Fraud Working Group is a joint initiative of the SEC’s Division of Enforcement and Office of Compliance Inspections and Examinations. The Working Group is pursuing a strategic approach to combating microcap fraud by focusing on recidivists and insiders, and on the attorneys, auditors, broker-dealers, transfer agents and other gatekeepers that facilitate a large volume of the fraud in this sector. The Working Group is comprised of staff from the SEC’s headquarters in Washington D.C., each of its 11 regional offices, and from the Office of Market Intelligence, Division of Corporation Finance, Division of Risk, Strategy, and Financial Innovation, Office of General Counsel, Division of Trading and Markets, and the Division of Investment Management.
For additional information about trading suspensions, including answers to frequently asked questions, read the SEC’s Investor Bulletin on Trading Suspensions available at www.sec.gov/investor.shtml as well as on www.Investor.gov.
# # #
For more information about this enforcement action, contact:
Michael Paley
Assistant Regional Director, SEC’s New York Regional Office
(212) 336-0145
Elisha L. Frank
Assistant Regional Director, SEC’s Miami Regional Office
305) 982-6392
http://www.sec.gov/news/press/2011/2011-120.htm
Horrible, I think JEDM is a real company not a scam, I am waiting a PR very soon, thats could be disaster for a pps on jun 20
MTEK : SEC Suspension :
http://sec.gov/litigation/suspensions/2011/34-64612-o.pdf
New MTEK Discussion Community:
Hello all,
After approximately two years of dealing with the typical non-sense of stock message boards (bashers, spammers, etc.), I decided to be proactive and start an MTEK community free of:
* Vulgarity and Profanity
* Obvious Stock Bashing
* Personal Insults Towards Members
* Spamming of other stocks, sites or products
Agoracom provides hub leaders with the power to delete posts and ban members who do not wish to abide by the rules of the forum.
If this is of interest to you, please join us at: http://agoracom.com/ir/Mindtech
Let's spread the word and have some meaningful discussion!
Thanks,
Sean
Scientists Figuring Out How to Watch Brains Form Words
http://gawker.com/5806777/scientists-figuring-out-how-to-watch-brains-form-words
Scientists Figuring Out How to Watch Brains Form Words
A team of scientists at the University of Washington have found the place in the brain that makes the sounds that we use to form words and thoughts. By using some fancy computer programs, they believe they could one day interpret these brain signals well enough to identify actual words and thoughts in our heads. Which is basically mind-reading, isn't it?
"It really goes pretty close to what people used to call mind reading," explains Gerwin Schalk, a researcher based at the New York State Department of Health who's been working with the U of W scientists. The team in Washington had been investigating potential causes of epilepsy when they realized they could pick up the electrical signals that corresponded to the sounds being made by their research subjects, who were hooked up to some electrodes and other devices.
GERWIN SCHALK? Oh yes, that is the guy who sits in the advisory board of mind solutions inc (the subsidiary of mtek)
NEWS!!!Mind Solutions, Inc. has signed an Agreement with a prominent Swiss Firm to assist The Company in raising capital through the European Markets. The Firm anticipates a successful capital raise of 4 to 5 million Euros, which begins immediately.
"CARDIFF, Calif., June 3, 2011 /PRNewswire/ -- Mind Technologies, Inc. (http://mindtechnologiesinc.com) (Pink OTC: MTEK), announced today that additional funding has commenced through their European subsidiary, Mind Solutions, Inc. which is traded on the Deutsche Borse Stock Exchange. Mind Solutions, Inc., with a market cap in excess of $50 million is a majority owned subsidiary company of Mind Technologies, Inc.
Mind Solutions, Inc. has signed an Agreement with a prominent Swiss Firm to assist The Company in raising capital through the European Markets. The Firm anticipates a successful capital raise of 4 to 5 million Euros, which begins immediately. Mind Solutions, Inc. plans to use the proceeds to finalize the development of an advanced EEG headset, currently in development and expected to be released this year. The technology being developed is expected to revolutionize the BCI (Brain Computer Interface) market by providing a smaller, easy to use, EEG device that can be used for mobile smart phones as well as the PC. Additional capital raised will be used for a global marketing campaign, set to begin upon the release of The Company's proprietary EEG headset. The Company plans to make their EEG headset and thought controlled software a household name throughout the world as a result of the extensive marketing planned; and believes the technological advancements of the EEG headset being developed will position The Company as the leader and platform of choice for the BCI industry going forward.
About Mind Technologies, Inc.
Mind Technologies, Inc. develops software for thought controlled technologies, allowing the user to interact with the computer and other machines through the power of the mind. The technology involves the use of a wireless headset, which detects brainwaves on both the conscious and non-conscious level. This revolutionary neural processing technology makes it possible for computers to interact directly with the human brain. The Company creates medical applications and video games that are controlled by the power of your mind."
http://finance.yahoo.com/news/Mind-Technologies-Inc-Signs-prnews-1425720313.html?x=0&.v=1
Ok, I see who started it now.
And that guy has it right...I am sitting on my shares.
I have plenty of patience- but if that headset is what they claim it is, I don't think I will need much of it.
I have the original author on 'Ignore' apparently. Who began that thread?
Thanks...
Interesting conversation on yahoo,longs seem to get stronger:
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_M/threadview?m=tm&bn=78638&tid=41168&mid=41168&tof=2&frt=1
I hope so!
And if we make the Nasdaq down the road, I won't complain either!
Ok,let's not talk about Nasdaq yet.Time will tell,but if the hardware and software are that good that they're presuming, then the market cap will 10-fold easily.
MTEK: big breakthrough is coming this year.
Hey Alex,
Nice to hear someone so positive with this company. It's easy to get wrapped in the day to day Market Maker games and feel like it's never going to end.
I think this is a solid company and I believe they are doing whatever they can to do the right thing with their shareholders. However, when you look at the percentage of pinks that make it to the Nasdaq, it kind of makes you think it's not going to happen. Let's put it this way, there are around 5,000 pinks trading (I believe) and maybe 8 or 9 get to the Nasdaq a year.
Believe me, nothing would make me happier or wealthier, but I don't see a Nasdaq listing. Nevertheless, there are stocks listed as pinks that are worth several dollars per share...which would do me just fine.
"The Company selected will oversee the entire project, including circuit design, software and Bluetooth integration, prototyping and manufacturing. The final product to be sold to consumers will be much smaller, more reliable and use dry sensors to detect brain signals. "The design of the product is completely different than anything currently on the market and will be virtually undetected when worn," stated Brent Fouch –CEO"
4 words:
!bluetooth!
!dry sensors!
!more reliable!
!much smaller!
and new software is ready to be ditributed as well
There is currently some bashing going on and market manipulation, but it has tempered. When the headset gets out, the market cap will easily 10-fold and the price per share will follow. Interested players: the military, the government (and CIA, FBI, NSA), pharma and entertainment business.
Again, I repeat, this is a future Nasdaq stock.
Agreed sperri40.Now that they changed the company's name officially,I don't think we're far off from the commercialization of the new headset and patents being approved. Soon pps breaks .0200 and rise much higher.
We'll see. So long as there are people like you spending their time bashing it, I feel better about its prospects.
The reason this stock is nearly comatose has nothing to do with MM manipulation or shorting. Look to the continued dilution, minimal sales and lack of buying interest or pressure, as well as the nebulous news events, such as talking of headset development, which to me is very doubtful that they are capable of accomplishing.
I'd like to agree, considering I have almost 2mill. shares, but until something is done about the MM manipulation I don't think we're going anywhere.
Mind Technologies All Set to Bring its Revolutionary EEG Headsets to the Market
http://headsets.tmcnet.com/topics/headsets/articles/169511-mind-technologies-all-set-bring-its-revolutionary-eeg.htm
If management can keep this promiss as they did keep all their promisses this year, the PPS will explooooooooode!
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Mind Technologies, Inc. develops software for thought-controlled technologies, allowing the user to interact with the computer and other machines through the power of the mind. The technology involves the use of a wireless headset, developed by our strategic partner, which detects brainwaves on both the conscious and non-conscious level. This revolutionary neural processing technology makes it possible for computers to interact directly with the human brain.
Jedi Mind, Inc. (Pink Sheets: JEDM) announced today that due to numerous enquiries regarding medical applications software programming, the company will form a medical applications division. The formation of this division will begin immediately.
"It is short notice, but there is a huge market for the development of medical applications for the thought-controlled technology," stated Brent Fouch, CEO of Jedi Mind, Inc. "We are currently focused on completing the first suite of video games for the technology, however on a funds- Read the rest of this entry »
Jedi Mind, Inc. (Pink Sheets: JEDM ) announced today that their Medical Division is now working on a number of medical applications for patients in wheelchairs. An estimated 1.6 million Americans residing outside of institutions use wheelchairs, according to data from the National Health Interview Survey on Disability (NHIS-D). Jedi Mind's Medical Division is seeking to develop software application that is entirely based on the cognitive process, or "thought control". Some applications already exist but depend more on physical input such as facial expressions.
"We have had much more success in the marketplace than we expected to have and it has enabled us to move quickly forward with our Medical Division. Our initial focus will be on helping people in wheelchairs and those that have mobility issues," said Brent Fouch, CEO of Jedi Mind, Inc. "We are already being contacted by Doctors and other medical professionals that want to participate in development of these applications. We have another initiative in our Medical Division that we expect to announce within the next couple of weeks as well. We are excited to begin work on products that can truly improve the lives of thousands of people," Fouch said.
Jedi Mind, Inc. announced today that the company has been selected to ring the opening bell at the NASDAQ Marketplace Site in Times Square in New York on September 30, 2009. Jedi Mind will also be a presenter at RedChip Companies New York Equities Conference September 30th through October 1, 2009. The conference will feature presentations and a Q and A session. Jedi Mind will use this opportunity to show the investment world that the technology and the software solutions they are pursuing are very much "for real."
Jedi Mind, Inc. Pink Sheets: (JEDM) announced today that Dr. Gordon Chiu will join Jedi Mind, Inc.'s advisory board and will head up the new medical division. Dr. Chiu has worked for both Pfizer Inc. and Merck & Co., Inc. as a research scientist and has healthcare and marketing experience with strong links to Wall Street and Asia.
Here is the unedited video feature on CNBC's Inside Business with Fred Thompson. The final version will air on CNBC, CNN Headline News and many other media outlets.
Jedi Mind, Inc. (Pink Sheets: JEDM) is pleased to announce the Company's first thought controlled game to be released prior to the Christmas season. Jedi Mind's software programmers have been finalizing the development of the first game to be sold, which will launch in the next few weeks in time for the retail Christmas season. The game is geared towards people of all ages, from children to adults and utilizes the power of your mind to operate the game.
Jedi Mind, Inc. (Pink Sheets: JEDM), announces this holiday season's biggest entertainment blockbuster will likely be a video game called Call Of Duty: Modern Warfare 2, which is anticipated to be released today. It could easily rake in more than last year's record of $155 million for opening weekend of the movie, "The Dark Knight." The video game market is showing no signs of slowing down, with fans expected to spend at least half a billion dollars on the game in the first week. If so, this would be the most successful video game release in history and possibly the biggest entertainment launch ever.
Jedi Mind plans to launch their first video game this month using thought controlled technology, whereby the players operate the game with the power of their mind. This will be the first of many games planned to be launched by the Company. "We are in the right place at the right time," stated Brent Fouch, CEO, who sees Jedi Mind as a ground floor opportunity for investors to be involved in the multi-billion dollar video game industry.
Jedi Mind, Inc. (Pink Sheets: JEDM ) is pleased to announce the Company's first thought-controlled game is complete and available for purchase. The game, "Think-Tac-Toe" is the first of its kind, which allows the user to play the game with the power of their mind and is geared towards people of all ages. The game will be sold online at a price of $49 and can be purchased directly through the Company by calling (760) 635-2595. The websites, http://jedimindinc.com/ and www.Emotiv.com will have additional information on ordering a download version of the game shortly.
Jedi Mind, Inc.'s first game, Think-Tac-Toe will be available this week for purchase and download on the site. We are currently updating the site's configuration to conduct secure transactions. Check back often!
Here is the unedited video feature on CNBC's Inside Business with Fred Thompson. The final version will air on CNBC, CNN Headline News and many other media outlets.
Jedi Mind, Inc. (Pink Sheets: JEDM) announced today that a "60 Minutes" article aired this last weekend gives a great deal more credibility to "mind control" software and hardware applications. During the "60 Minutes" article, the Brain Computer Interface or BCI was detailed which is basically an EEG cap that reads signals from the brain. Scott Pelley reporting for "60 Minutes" was able to create a word that was correct on his very first try.
From the "60 Minutes" transcript: Quietly in a number of laboratories, an astounding technology is developing that directly connects the human Read the rest of this entry »
Share Structure
State of Incorporation - Nevada
CEO- Brent Fouch
Stock Quote/ Financials - http://www.otcmarkets.com/stock/jedm/quote
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