QualTek Services Inc (fka QTEKQ)

[lucky, mydog]

yes, qtek is on the grey sheets. skull and crossbones.


http://www.otcmarkets.com/stock/QTEK/quote

[lucky, mydog]

can you explain what the company has to do to get off the grey sheets?

[Firegiant]

BUY QTEK Huge money to be made here lets go folks!!! Hop on the money train!!!

[krammer1]

Time to load up big money to b made

[equijohn]

well played MVP

[L8TR]

Time to buy for huge profits return

[mzasif]

QTEK traded at .0005 with vol. 144k, must be in the grey market?

[mvp_money]

its a big piece of bcRap thats for sure. poor management really let a lot of people down. i think i actually banked a nice profit from it though

[equijohn]

QTEKQuintek Technologies, Inc.
Common Stock Grey Market OTC Markets has discontinued the display of quotes on www.otcmarkets.com for this security because it has been labeled Caveat Emptor (Buyer Beware) and because adequate current information has not been made available by the issuer of the securities. It has been labeled Caveat Emptor for one of the following reasons:

¦Questionable Promotion — The security is being promoted to the public, but adequate current information about the issuer has not been made available to the public.
¦Spam — The security is the subject of spam promotion having the effect of encouraging trading of the issuer's securities.
¦Investigation of Fraud — There is a known investigation of fraudulent activity involving the company, its securities or insiders.
¦Suspension/Halt — A Regulatory Authority has halted or suspended trading for public interest concerns (i.e. not a news or earning halt).
¦Disruptive Corporate Actions — The security or issuer is the subject of corporate actions, such as reverse mergers or serial stocks splits and name changes, without adequate current information being publicly available.
¦Unsolicited Quotes — The security has only been quoted on an unsolicited basis since it entered the public markets and the issuer has not made adequate current information available to the public.
¦Other Public Interest Concern — There is, in OTC Markets' view, a public interest concern.

[Love the Market]

How's that?

[Elcappy1]

Lol! Whaaa?

[Bondman3958]

My money is back in my account. Looks like we might be open for business today hopefully!!!!

[Nadendla]

Brad!..I owe you an apology for being rude..and I apologize for that..But I still have not given up on QTEK yet...till it is revoked..since I have position here..But if the revocation does not happen then we are back in the game...

[krammer1]

Yes buy buy buy lol even though it gets rejected loly

[Firegiant]

QTEK Working on company behind the scenes lets get buying before the launch

[Firegiant]

QTEK is Moving up quick they will regain quotes before you know it get buys in now!!

[Firegiant]

QTEK is solid do your DD Folks....This will move soon

[Firegiant]

This thing is gonna Take Off very soon Hang on tight folks

[machiavelli01]

cassandra as I really dont care but revocation is speculation

[Nadendla]

I understand!..It would be sad if the stock is revoked..but since we are not entirely sure till that happens..we will give it a bit more time till the conclusion happens..Finally whatever happens..happens for the good of all..though if it is revoked then there will be some who will take losses...like me..but then I was prepared for losses and prepared for profits too..Lets see!.

[Cassandra]

Still i take it as a positive thing that QTEK came out of suspension to grey market trading...

All SEC 12(k) OTC stock suspensions are only for 10 trading days after which the stock can be traded on the grey market without being quoted.

There was nothing unique about the QTEK suspension ending or that it is now a grey market stock. The next thing to happen is likely to be revocation of the stock.

[tmitchell]

well, looks like it will be a tax write-off for the gains :)

[Nadendla]

Cassandra!..Much gratitude for the pointers!.Still i take it as a positive thing that QTEK came out of suspension to grey market trading without the bid and ask or absence of MM's...Lets wait and see what happens next!.

[Firegiant]

Yes But Key word is "till" in your statement meaning it will start!!!! and when it does woooooooooo babay Qtek to da moon!!!!

[Bondman3958]

Ride won't start till next year. Stock is dead for 12 months!!!

[Cassandra]

Nadendla: An miniscule percentage of OTC companies that have been suspended by the SEC have ever become qualified under Rule 15c2-11 to resume being quoted on OTC Link (fka Pink Sheets), the OTCQB or the OTCBB. The few that have done so had actual operations, three years of audited financial reports, a market maker willing to sponsor them, etc. I do not believe it's even possible for an empty shell to meet the qualifications.

Quintek has not issued any SEC reports since Nov. 2007 when they issued some 8-Ks regarding resignations of officers and customers. OTC Markets has a warning that they can't confirm the location or telephone number of the company, which appears to be completely abandoned.

Dormant shells like QTEK that are long deliquent in reporting are ripe for pump and dump fraud and are a specific target of the SEC Microcap Fraud Working Group, which recently did a mass suspension of similar shells.

See: SEC Microcap Fraud-Fighting Initiative Expels 379 Dormant Shell Companies to Protect Investors From Potential Scams

QTEK missed being including among the 379, but likely came to the SEC's attention due to the extremely unusual trading volume that began in mid April. In the current regulatory environment, shells that are significantly delinquent in filing or long dark with OTC reports are very risky plays due to the substantial potential for suspension.

Shells only have value if they have piggy-back qualification under SEC Rule 15c2-11. Quintek has lost that qualification. Additionally, an SEC Administrative Law Judge will be deciding if the stock should be revoked, which would eliminate the potential for any trading whatsoever. The ALJ has 120 days from the official "service" of the Order to issue a decision, which could come sooner. IMO, revocation of QTEK stock is extremely likely.

Sorry that I haven't been able to provide a hopeful response, but the reality of the situation is bleak. Money lost in this stock can be considered tuition regarding the added risks of trading long delinquent or dark shells given the current efforts to prevent them from being used to perpetrate fraud. A suspension can happen at any time.

The momentum that traders desire in such plays can itself bring the scrutiny of the SEC and a suspension. I believe that is what happened here. OTC Markets issued a Caveat Emptor (CE) warning before the suspension due to the unusual activity.

[Nadendla]

Just for general knowledge...Do you know of any company that came back from the grey sheets and become normalized..I will do some DD when I get some time on this..But Do you think that it is not possible again...perhaps there might be some kind of penalty for contempt of not filing..Maybe there is some way...Empty shells are valued too..I wonder what the owners of this have in mind..I mean they cannot just toss the value of the shell away..would appreciate if you can shine some light on this!.

[Brad S]

I already put about 10 grand in today you can't see it cause its grey sheets

LOL! No one with a working brain would buy a stock that's about to be revoked. I'm sure you've got your sell order in for that bag of shares you're stuck with, problem is there are no takers.

[Firegiant]

I already put about 10 grand in today you can't see it cause its grey sheets.......but buy buy buy

[Brad S]

Buy Buy Buy Put all your money in QTEK

You first, PC.

[Firegiant]

Buy Buy Buy Put all your money in QTEK

[Brad S]

It doesn't look like anyone is interested in buying, including you.

[Firegiant]

AMen Buy Buy Buy Qtek All the Way

[Brad S]

Qtek Gonna Run like Never Before!!!!

It best hurry up, because odds are the ticker is gonna go "poof" by the end of this month.

[Cassandra]

Excerpts from the ADMIN Proceeding:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=75936503

[Cassandra]

Also If they recieved a response this should go back to business as normal and take off!!

The Answer to the SEC Administrative Proceeding, if made, would only be an attempt avoid revocation of of QTEK stock. It can not restore QTEK to normal trading. QTEK already lost its 15c2-11 piggy-back qualification and is a grey market stock following suspension.

It's very unlikely that QTEK can avoid being revoked. The corporation violated Securities Laws by not filing its periodic reports for several years.

[Cassandra]

The grey market/caveat emptor status is not temporary. The corporation would need to go through an extensive process to qualify under Rule 15c2-11, get a market maker to vouch for it by filing a Form 211 with FINRA and FINRA would need to approve the 211 for QTEK to ever be quoted on OTC Link (Pink Sheets) ever again.

For a company that's out of business, that is never going to happen. It almost never happens for companies that were still in business when suspended.

No quotation is allowed (i.e. no bid or ask prices may be displayed) however the price and volume of any trades that occur are reported. Such prices do not usually represent "market value" for the stock (i.e. the price at which you could sell).

It is also much easier to buy a GM CE stock than to sell as there are usually many more people looking to exit with whatever they can get than to buy a stock they may never be able to sell.

As mentioned, QTEK is also facing an Adminstrative Hearing as to whether the stock should be revoked. Anyone buying the stock is likely flusing money down the toilet.

[Firegiant]

Qtek Gonna Run like Never Before!!!!

[Firegiant]

Awesome DD Can't Wait for QTEK to Run like Wild Fire!!!!!

[Cassandra]

Formerly-suspended grey market stocks do not run, are not candidates for reverse mergers and are usually a complete loss for the shareholder unless they can sell when someone who doesn't understand the situation is buying.

QTEK's stock was registered with the SEC and the corporation never filed a Form 15 to de-register it (meaning it continued to be obligated to file periodic reports with the SEC). The stock of such corporations is often revoked following a suspension if the suspension was in regard to delinquent filing. Revocation means the ticker and CUSIP are no longer valid or tradeable. You will often see the message boards for or other references to such stocks showing as "fka" or "f/k/a" with the old ticker symbol.

Corporations with stock that was never registered or was de-registered do not face revocation following suspension, but typically die on the grey market.

[Firegiant]

Cassandra Qtek is Rocking you are Right they should not buy now they hopefully are alrready loaded!!!!

[Firegiant]

Great Job Cassandra Pointing out a Filing i already posted ...... Buy Buy Buy!!!!!

[Firegiant]

Qtek is awesome investment you should buy in now Cassandra!!!!! Hurry before the it starts to run !!!!

[Cassandra]

No one should be buying QTEK stock. Not only is it an illiquid grey market/caveat emptor stock, but it is facing an SEC hearing regarding a longer suspension of up to one year or complete revocation according to the Administrative Proceeding that has been initiated: http://www.sec.gov/litigation/admin/2012/34-67051.pdf

QTEK was given 10 days from the date of "service" of the Order to file an answer. There will also be a public hearing to address evidence as to the allegations in section III. If QTEK does not file an answer or fails to show at the hearing it will lose by default. An Administrative Law Judge has 120 days to issue a decision regarding revocation or additional suspension.

QTEK has not filed periodic reports for 5 years and appears to be an abandoned shell of a defunct company. It is very likely the stock will be revoked within the 4-5 months or less under Section 12(j) of the Exchange Act IMO. Revoked stock cannot ever be traded again.

There is zero potential for this shell to be used for a reverse merger. Buying more QTEK now is just throwing good money after bad money.

More information:

The SEC may revoke the registration of stocks. In some circumstances, the SEC may revoke the registration of a defunct company's stock pursuant to Section 12(j) of the Exchange Act. Under Section 12(j), the SEC is authorized to revoke the registration of a security if it fails to comply with the federal securities laws. No broker-dealer may execute any trades in stocks whose registration has been revoked pursuant to Section 12(j).

http://www.sec.gov/answers/dfnctco.htm

[woody2]

I tried with TDA this morning. Took my order.

[melmartin2006]

any idea why?

[melmartin2006]

i am not able to enter a sell order.

[Bondman3958]

I think we are still dead in the water. No signs of life thus far!!!!

[Firegiant]

Closely watched Last Sale can be a good guide to buys and sells still. Granted not as good as MM quotes but you can watch trends and charts and get a fell for it.

[machiavelli01]

will never show b/a just last sale


until they become compliant and get mm for file 15-211c