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Panic buying...................
Extra butter..... I hope.
It's hiding in the acquisition/merger target and that is exactly why Ben filed what he did to prevent shell risk/status. It only makes sense to a few people right now. All public info but no one seems to believe it. Not that I care. It will be the biggest curve ball that I have ever seen thrown in my history of reading OTC news. But hey. We have plenty of popcorn.
Agree. But who will make it rain this time? I am retired.
1 share of MCIC + 1 share of MCIC = more money? I had a hard time with math.
Et tu, Brute? MCIC $
Capital A makes me wonder if my opinion helps or hurts? Any news hits and I don't have an opinion Anymore. I guess at that point everything becomes fact.
And trust me. I like a good story more than money. "Because the greed that fuels investors in a market that does not appreciate a good story?? Will never taste success." That will go down as a famous quote one day. It's how I feel about things. My first score in the stock market was the dirty bastards at the FDA being forced to approve a cancer drug they were paid under the table to not approve. The stock was on the verge on BK and on it's last chance. But it when it made headline news..... The story was in place and they had to approve the drug. It all starts with looking at the story behind a company. Fast flips based on trading algorithms are a completely different ball game.
Thanks. What really makes the story more interesting is Ben's silence. I finally see why. Had he released news these thing would be fixed in a year or longer???? OMG. When you are in poo poo up to your eye balls it's best to say....... Nothing. The comeback story here could be a hell of a thing.
I could not find a pink that has dropped shell status, dropped shell risk status, went OTC current info to regain quotation, and then gains the market makers and solicited quotation back? After the rule change??? All that??? Search Google all you want and filter by news. People, this never happens. But he put his money in to do it and got it done. That never happens. What if MCIC was about to be set up for the biggest run in OTC history and only a few people read this post before it happens? There are only a few of you reading and MCIC has already done the impossible. Search the internet and show me any OTC company that pulled that list off. Fully reporting NASDAQ or NYSE companies that fall to the OTC do not count because they were in dollar land before the fall to OTC tier and they have the incentive and capital to fix quotation fast. Think about that for a minute.
It's actually turning into an interesting story because I was thinking about something last year. If "whatever" Ben had planned was off the table because of the delays and issues caused by the shell status/risk junk? My logical mind says the ticker would not have been worth getting current and all in hopes of something new developing. I think he would have walked away. Not put more time, money, and effort into fixing this stuff. It also validates that whatever he is bringing in also gave him more time than a lot of other situations can allow. Has to be something all parties involved want to see done. Just a guess on my part.
He had to put more in because he is moving forward with something. Getting things fixed with the OTC was only part of the expenses the last few years. A lot of professional/legal expenses in the last filing. They never said what Adam was paid to do but his specialty is legal on mergers/acquisitions. Previous sale transactions posted on their website could be sitting in the merger/acquisition target as the deal would have certainly been delayed with the stock issue that was recently cleared up. Someone is in it to win it. The big question is - "What's up MCIC?" Wish we had a countdown timer.............
No problem. We noticed more market makers on level 2 this morning.
In OTC markets, the market maker is a principal trader who buys from sellers at a “bid” price and sells to buyers at a higher “ask” price. The market maker's objective is to make a profit from the bid-ask spread.
Principal-based market making is a basic financial service that provides transaction immediacy to other traders and liquidity in financial markets. Market-making arrangements run the gamut, from rapid anonymous trading on exchanges, to sporadic bilateral OTC trading among institutions, to occasional one-off new issue underwritings.
Specific market trading protocols vary from market to market. In exchange markets, market makers offer to trade when a customer submits an order or requests a quote. An order may be submitted at whatever price currently prevails in the market (a market order) or for execution at a fixed price (a limit order). Limit orders are held by market makers for potential execution when the limit order price becomes competitive.
Institutional investors usually trade large blocks either by trading with an OTC market maker, by trading in an off-exchange order-matching market (a "dark pool") or by dribbling out small orders over an
extended time in a retail market.[2] When a block trade market maker accepts a buy or sell order, it usually negotiates the price with its counterparty, while simultaneously searching for offsetting orders and hedging any portion of the block for which it has no offsetting order.
A conventional secondary market or derivative contract trading agreement between a market maker and its counterparties usually states that the market maker is not a fiduciary in its usual trading business.[3] A different arrangement usually holds in primary markets and secondary offerings for corporate securities, where the market maker is usually contracted to be a fiduciary agent for the seller.
In a primary market for corporate instruments, a market maker buys a large block of stock or bonds from an issuer and sells it to investors as a principal; this process is called underwriting. An underwriting contract may specify a fixed purchase price for the underwriter, with a higher fixed price for investors.
Alternatively, the issue may be distributed on a best-efforts basis, in which an underwriter sells to investors without guaranteeing a price. Unlike most market makers in the secondary market, an underwriter in the primary market is usually a fiduciary working on behalf of the issuer.[4]
A secondary offering is an underwriting transaction in which an investor that owns a very large block of an issue engages an underwriter to resell the block. In this activity, the underwriter is also usually a fiduciary. Thus, while a secondary offering is much like a block trade in size and execution, the contract governing the trading relationship between the seller and the market maker is different.
Secondary Markets: Order-Driven vs. Quote-Driven
Parallel exchange and OTC markets exist for many financial contracts, including securities and derivatives. Small orders are usually organized as exchanges, and market making on them is referred to as order-driven.
In contrast, large block orders of the same instruments are dominated by institutional investors trading OTC. In OTC markets, market making is mostly quote-driven.
In an order-driven market, market makers submit a flow of public buy and sell orders that compete directly with orders from other traders. Other traders may trade directly with each other if their order prices are better than a market maker’s posted orders.
In contrast, in quote-driven markets, a potential trader requests a private quote from a market maker. A quote given is for both sides of the market with bid and asked prices, quantities on both sides and a time limit (perhaps a few minutes) while the quote is good. Then a potential customer can quickly try to solicit competing quotes from other market makers and execute the trade at the best bid or offer.
Trade Execution and Position Management
In order-driven markets, market makers compete to capture flow trading. By flow trading, we mean frequent execution of standard sized orders (round lots) submitted by ordinary traders and other market makers.
Bid-ask spreads are generally quite narrow, due to competition from other traders’ orders and other market makers competing to capture the public order flow. This type of trading commonly occurs on stock exchanges, futures exchanges and options exchanges worldwide.
In quote-driven markets, orders come to a market maker sporadically. Some trading activity is like flow trading, as customers quickly hit quotes for standard sized trades (usually around $1 million minimum) of simple instruments like foreign exchange, or FX, contracts or U.S. treasuries.
Other trades are tailored deals that have negotiated terms. Such trades may involve complex derivatives, large blocks of instruments like corporate bonds, swaps, foreign exchange, repos or forward delivery of physical commodities.
For large trades, a market maker usually tries to assemble a position to prehedge a customer’s pending buy order, or to find another buyer for the position in a customer’s pending sell order, before the initial customer’s trade is executed. An OTC market maker therefore tries to set up both sides of a large or complex order before either side of the trade is executed.
Although this might appear to be like front-running a booked limit order in an order driven market, it is a normal and customary risk management practice in a quote-driven OTC block market.
Market Making in Perspective
In a series of recent prosecutions, the government has implied that a market maker in a quote-driven OTC market should be able to provide the same execution profile for a bespoke block trade as that which occurs for a small round lot trade in an order-driven market.
At the same time, the government has asserted that a block trader’s obligation to its customer is like that of an underwriter in a secondary offering. This hypothetical combination of market-making practices is based on several misapprehensions.
In a quote-driven market the market maker agrees to trade a specified quantity at a quoted price in a bilateral transaction. To do this, the market maker must acquire either orders or inventory in advance, at prices that gives it a chance for a profit on the transaction. Otherwise, the market maker would not transact.
Acquiring large blocks of orders or instruments to sell at a quoted price subjects the market maker to risk while holding the order or position, which must be managed. A market maker therefore prudently acquires orders or inventory and sets prices in a manner that allows itself to manage risk and try to avoid a capital loss. The result may be a price per unit for a large block trade that looks less favorable to the customer than the going price in a round lot order-driven parallel market.
Wait on those guys to catch up on watching the last few VHS tapes of you know what and they should remove the unsolicited quotes warning. NICE!
Yea. They took the buy order for the first time since the restriction started. The test sell orders were to see if the market makers showed the true size of the customer orders. I had both buy and sell orders in place today briefly to see the changes on level 2. Looks to me like the market makers are soliciting quotes on their own. Just a guess...... But the trading restriction on buying with Schwab is definitely lifted as of today and maybe a little ways back as you suggested.
That was a 400,000 sale order at .0014 that just showed as only 10,000 on level 2. Order was cancelled a few seconds later. I placed it and watched what them solicit a quote themselves. My order was larger and they chose not to show it. Hmmmmmmm
Hey old pal. Wonder if unsolicited quotes have to show the true size? One would think so?
Yea. I am starting to think that was the issue with the trading restriction. Wish I would have tested a buy order on Schwab the day after they dropped shell risk and also day after they went OTC Current. It's hard to know every detail from reading junk on the internet. People at the brokerages should know this stuff. Someone should ask a broker they know. Every stock broker that I have used has my phone number permanently blocked and a restraining order in place on me.
Placed a 100,000 sell order at .0014 and GTSM showed it as 10,000 size. I removed that order a few seconds later. I was pissed because they didn't show my 1,000,000 share sell order at 1.00. But in MY opinion they are soliciting quotes because MM GTSM did not show the true size of my .0014 sell order. So, they are playing market maker based on my test. I am not 100% sure.
I will place a test sell order for 10,000 shares at 1.00 PPS next. Please, no one buy them that dang cheap. Let's see how it shows on level 2. I will cancel that sell order because I don't really want to sell them right now.
Maybe. Schwab had a buy restriction before. Now, they do not. Also, more market makers are on MCIC now which could mean they are soliciting quotes. Keep in mind that unsolicited quotes means the market makers can ONLY show customer orders and can't trade it themselves. Seems like a broker could answer this question if we called them. They should have a way to know if they can solicit quotes. Especially a smaller brokerage that understands the equity feeds and crap.
Trading restriction dropped?? Trading restriction dropped?? Charles Schwab is allowing buy orders this morning. I just tested it!!! Also, more MM on level 2. OTC Markets may take a day or so to update if it is now solicited qutes??? I am just asking the question???????
I like bets.
Monthly MACD crossed on the 7 year chart. Often times calling for a HUGE upward candle to follow. It's a serious thing.
Good morning
Yea. Why be so concerned over that when everyone else is relaxed? This looks personal to me. Road blocks are way over rated.
Rule change made it so MM (broker/dealer) could not charge a fee to the company for signing off on a 211. I have read more into it. But I posted something that looked weird to me earlier. They can play MM without a 211 if they feel the info is current? I don't get that. But no pink in MCIC kinda situation has regained the MM solicited quotes. I can't find one example in any news releases on Google searches. What does Ben have going on? Got to be something.....
That works out really well considering their subscription fees for QX and QB. They are suppose to be the gate keepers via the rule change. They fix the problem if paid more and if not good luck with the 211? They were in bed with pillow talk and everything else negotiating the rule change with big brother a few years back. I can see some parts of the rule change being good with a focus on the transparency of current info. I have seen a few nasdaq or high exchange companies fall to OTC and probably got a 211 approved. No pink with a shell risk to my knowledge ever has. I have searched it over and over. Ben fixes this without news? He is OTC M current info without saying a word. Drops the shell risk without saying a word. I think Ben is serious about this being a public company. Can't say what in the hell his plans are. But he is doing something.
How does a company get quoted?(interesting read from a transfer agent's website)
To get quoted, you need to find one market maker willing to quote your company's stock. Only SEC-registered broker-dealers (market makers) that are members of the Financial Industry Regulatory Authority (FINRA) can quote securities. The market maker must file a Form 211 with FINRA in order to start quoting.
How can I find a market maker to file a Form 211?
We cannot recommend specific market makers. However, a list of market makers is available upon request. We welcome potential issuers to contact them to discuss making a market in their company's stock.
Is there a way to get quoted without a Form 211?
Yes, if a market maker determines the security is eligible for one of the following exceptions under SEC Rule 15c2-11:
The security is currently listed on a U.S. exchange.
The market maker wishes to submit an unsolicited quote. An unsolicited quote represents a customer order and not a market maker's own position and must be removed from the system once the customer order is executed
The security is piggyback eligible. A security becomes piggyback eligible when it has been quoted by at least one market maker for a minimum of 30 days.
The "Globenet Exemption." Under this exemption, a market maker can initiate a quotation for an OTCBB-only quoted security without submitting a Form 211 to FINRA, subject to the following conditions:
Each broker or dealer relying upon this exemption must have in its records information specified in paragraphs (a)(5)(i), (a)(5)(viii), (a)(5)(xiv), (a)(5)(xv), and (a)(5)(xvi) of Rule 15c2-11;
Two-way bid and ask priced quotations that do not reflect customer indications of interest must have been published during the previous 30 calendar days, with no more than four business days in succession without such quotations, in an interdealer quotation system that displays unsolicited customer indications of interest;
The issuer of the security has not been delinquent in any of its reporting obligations under the Exchange Act or rules thereunder for more than 30 days, if subject to Section 10(a) or 15(d) of the Exchange Act;
Since the issuer of the security filed its most recent annual report, the issuer has not filed a report with respect to any event included in Item 1.03 (Bankruptcy or Receivership), Item 2.01 (Acquisition or Disposition of Assets), Item 4.01 (Changes in Registrant's Certifying Accountant), Item 5.01 (Changes in Control of Registrant), and Item 5.02 (Departure of Directors or Certain Officers) of Form 8-K under the Exchange Act
The issuer of the security is not exempt from the registration requirements under Section 12(g) of the Exchange Act pursuant to Rule 12g3-2(b); and
The issuer of the security is not the subject of bankruptcy proceedings.
Are there any filing requirements in the OTC market?
Issuers are not required to register securities with the Securities and Exchange Commission (SEC), or be current in their reporting requirements to be quoted on the OTC system. Nor are issuers required to file financial or other company information with OTC Markets. However, issuers are classified for investors based on the level of information they do provide about their company.
SEC Rule 10b-17 requires all issuers of publicly traded securities, including all OTCQX, OTCQB and OTC Pink securities, to notify FINRA at least 10 calendar days prior to the record date of any dividend or other distribution, stock split, reverse split, or rights or subscription offering.
Do financial statements have to be audited?
Current FINRA rules do not require the financial statements of non-SEC reporting issuers to be audited in order for them to clear a Form 211, but they should be prepared in accordance with GAAP or, for foreign issuers, in accordance with their home country's accounting standards.
What are the fees?
There is no fee for issuers to have their stock quoted on the OTC inter-dealer quotation system. Market makers are charged for each security in which they make a market in the OTC system and are prohibited by FINRA Rule 2460 from accepting payment by an issuer or their affiliate for publishing quotes.
Based on a series of google searches specifying "resume quotation OTC" "211 approval OTC" and other key words. A few companies have released news saying they intend to but I can't find many that have outside of uplisting to QB or QX. Thats the only 2 ways to remove unsolicited quote issue.
The funny thing about it is this is unprecedented without moving up to QB or QX and paying those dogs more money. Works out well for the dogs. 211 form? Watch out if either happen. Looks like the street will be blind sided either way. Company is not saying anything....... It's very interesting for the few watching.
Supply and demand. Large blocks of .001 get scooped up fast. Gulp, Gulp, Burp. Bartender may I have another 1,000,000 shares?
Yes. Spike and no cheap shares for people to flip. Multi penny PPS correction on news of operational events and progress.
Good morning. $MCIC
Exactly..... And that PR was in a different direction than PPE. So, is their most recent website changes leaning towards merger/tech possibilities. There are a lot more questions than answers on what MCIC is doing right now. But we can put popcorn in the microwave because Ben is backing whatever he is doing with his own cash he loaned the company. I think we are about to see the big picture. A few days or a few months at this point does not matter to me. Stay tuned. Everyone have a good night.
We are on the same page. I think Ben could not say anything publicly about a merger that could be under definitive agreement or so on back then. I am sure that OTC M and Finra would be told in private as those internal communications are secure and not public info. Questions are asked privately in review processes like that and even the Atty letters on current info. Ben is 70 plus years of age and financially well off based on some simple DD from Google. Does he have more money than his grandkids can spend?? Probably not...... Is he taking a risk filing fraudulent statements that could land him in a federal prison for the hell of it? He filed a statement saying they had revenue over a year ago to stop the shell risk in my opinion. The revenue was and is in the merger target and it has been sitting right there. I did not see it until now. It explain it all....... He didn't give up. But he sure had a hell of a time getting this back on track. Float is unchanged people............. Do the math on all this. I have a few really smart guys that I talk to and we didn't get it until recently. It is making sense now.
Ben has been very quiet on what Ben has been doing with his publicly traded company that is bending the logic of defining patience getting the train back on the tracks. But Ben has been doing just that with every bend in the road. Been a while since we heard from Ben also. HMMMMMM
Shaping up to be a historic run on the OTC. Catching up on reporting and dropping unsolicited quotes is unheard of these days. And MCIC doing it quietly? Better watch out! I smell a game changer coming.