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plane: I'm a hope for the best, prepare for the worst kind of guy. Otherwise, I would not still be racking my brain and doing DD on 15c2-11, Grey Sheets etc unless I was preparing for Grey Sheets action. MY DD included long distance phone calls (not toll free on some) to SEC, NASD, OTC:BB this very morning.
jking: that include Grey Sheets?
echo: do piggyback MMs have to be approved by CKYS?
plane: always, always good to hear from you!
i apologize if i was derelict in my duty. if i posts facts, i cut, paste and most of the time provide links. The rest are IMVHO. i also apologize that I have no documentation of any type to support the rumor that JP anticipates CKYS reopening on the pinks. My apologies to all, especially you, Plane.
msg: Nice post. It has taken me awhile to figure it all out. Being a newbie is never easy, especially in this situation.
Thanks GEO. Positive people ROCK!
Boo: I hear ya. You & I are in the same boat. To me, here are the questions:
Does the SEC suspension "restrict" or "remove" the MM's?
Could the SEC remove "restriction", which would allow MM w/o 15c2-11 and instant restoration to Pinks?
If MM "removed", at what point can MM do 15c2-11? During or after suspension?
Is the NASD approval process of 15c2-11 days, weeks, months or years?
fish: Nice post. I see the term "Piggyback Qualified" sometime and understand that this relates to MM's. Can an unauthorized MM get in the game via PiggyBack? I have never done DD on the subject.
Also, an MM does not have to have AFs to file the 15c2-11.
geoly: it's .076 for me. Thanks for the info and positive vibes. I'm in, I'm glad, and I'm not going anywhere anytime soon. I plan on adding to my position as well.
CKYS: The Game.
I'm a stockholder. I want the company to do well obviously. I didn't buy shares with the thought of losing money. I don't need a tax write off!! I need a new car! (I'm not planning on selling a single share anytime soon.)
Let's say I wasn't, though. Let's say CKYS came to my attention somehow, I did DD on the company and made the decision that I wanted to invest. Obviously, I would want to buy at the lowest price possible. I might come to a board like this and bash in hopes that shareholders would sell, resulting in a lower PPS, which would benefit me.
I don't understand shorts, so I don't know how they operate. But, I'm assuming that both shorts and potential buyers want the same thing: the PPS down as low as possible.
I'm trying to keep these scenarios in mind and ask myself this question: What is the agenda of each individual?
Boo: I missed your point. I understand the SEC suspension ends on Fri 2/19 at 11:59PM and that IMHO, the earliest we will trade will be Tues 2/20, unless there is a scenario where, should we go grey, trading could begin earlier.
I have heard Grey Sheets Trading described as "The Wild, Wild West"!
I am hoping that JP is correct and that we will reopen on the Pinks. If so, all this other stuff is moot.
Rep: No worrries, I'm just a newbie trying to learn as much as I can, as fast as I can.
I want to contribute something of value and substance to this board. I try to help everyone, including and possibly especially other newbies.
I didn't expect that I would be doing DD and trying to learn info related to SEC Suspensions, NASD, 15c2-11, Grey Sheets, etc.
I was hoping to have to learn about how taxes were going to affect the massive profits I was making from "the game". :^)
seabiscuit ROCKS! Huge, stuttering BOOYAH!
I have contacted SEC, NASD & OTC:BB this AM.
I have left voice mails and/or sent emails to all. I am determined to fully understand the process of how an SEC Suspension affects the Market Makers ("removed" or "restricted = big difference), what happens to the stock as far as trading goes immediately after the SEC suspension, what exactly the process is for the stock to trade other than Grey Sheets, what the time frame is for the 15c2-11 process.
I want to get and hear the info "right from the horses mouth".
I will post the results of this DD for you guys.
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.
gtel: Thanks. Much respect 4 u.
Hater Sightings: Tom P & marc_1958
I don't know who they are or what their intentions are, but I do know that they aren't good.
BEWARE!
jab do u have anything to add/contribute. your question was very direct. i answered. do you have a reply/comment?
it's grey sheets action on pinksheets.com =it's not trading on Pink Sheets!
GEEZ!! No wonder this is so friggin confusing!
have u seen any DC 5 cap posts since they got back? i have them.
rep: i have heard varying opinions and i don't know what to think or believe. i have been told that, even if an MM is waiting in the wings to file the 211, that getting it through the NASD approval process is time consuming. others here that have experience or knowledge about formerly suspended companies moving back to pinks may be able to help you/us more.
dano: as far as tracking the action, i can do that on pinksheets? how about scottrade?
Rep: It is my understanding that there is no other choice. I understand that an SEC Suspension removes all MM's. A stock has to have an MM to trade on Pinks, BB's, etc. For the stock to trade any place but Grey's. the company has to find an MM willing to file a 211, which has to then be approved by NASD. This takes time. In filing a 211, the MM assumes certain risks and sanctions should there be improprieties by the company. Someone please correct me if I'm not spot on.
dano. on the pink sheets as "other"? i saw something the other day that looked normal on everything except the bid & ask were 0.00
scottrade told me during business hours only. there is no internet trading. all the negotiations/trading is done while the parties are on the telephone. there are no published bids and asks. i wonder if thats how they traded in "the old days"?
Posted by: PCE
In reply to: ToddWH02 who wrote
Date: 2/12/2007 2:51:21 PM
Post # of 60075
Good news today.. I will post something later tonight. All I want to say now is I will not be selling when they open..
I will talk about DEAL/ Contract
Payment
Audits
Share Structure
and Sequium.
for those who have my phone number call me later.. after market.. and check your emails...
PCE asked for people to provide their emails via post or Private Message.
anyone have grey sheets trading experience? i hope not, but if you do, please educate us.
scottrade told me that i have to call them and then they find buyers/sellers on the phone and that there are no published bids/asks. i have heard grey sheets trading described as "The Wild, Wild West"!
bear! TOO FUNNY! Are you insinuating that something like the lack of a post would affect an adult's decision making process and could induce them to sell shares of stock worth real dollars? Please tell me that you are kidding and that there aren't people here who are that mentally & emotionally challenged and that easily swayed! If that is the case, no wonder so many people have been freaking out about the bashers that moved in here Feb 5 and since. Please tell me you aren't serious!
DC & 5cap have both posted. Did you not see them? If that is the case, I will gladly provide the posts for you.
Some of us will continue to post DD, IMHO's and speculation on a daily basis. I'm a bit addicted to this board, I must confess. The thought that nobody would post here for a week and that this board will literally die for a week is unimagineable and absurd.
I echo Echo. LOL!
Posted by: 5cap
In reply to: None Date:2/11/2007 12:18:42 AM
Post #of 60002
Had a nice trip out to St George yesterday and spent a long time with Jim, Kevin Sullivan, Dan Mertlich & Tom Heaton. These guys are very personable, busy, and focused on building the business. They are not focused on the stock as most on this board are, and they are not worried about this SEC investigation since they know they have done nothing wrong and view it as a short term bump in the road. I know dcbass is getting home tonight too and we'll both have a bunch of stuff to share over the next couple days.
5cap
Posted by: dcbass
In reply to: olefootballcoach who wrote msg# 58980 Date:2/11/2007 12:47:33 AM
Post #of 60001
I just got in and want to check my notes with Jim before posting too much. Sorry to make you wait. Hopefully I'll give a full account of the trip by Monday AM, although I really would like to verify a few things before I say too much.
All in all it was a great trip. The company is for real. The people are real, the office is real, the business is real. They are not holding a yard sale or anything like that. In fact they are expanding. They have added the top floor and will expand into the other side of the building soon.
They are very confident about the SEC situation. They expect to trade on the pinks, not the grays. THe contract with the US Govt is legit, so all they have to do is prove it. They don't seem the slightest bit worried about it.
Again, I want to verify a few things before posting too much.
B
DC Bass owes us nothing! Anything he chooses to share w/ us is a gift. IMHO, DC is an awesome person (I am not the only one who thinks so). I have spoken with DC and exchanged numerous e-mails with him. He has much good news and he will share what he chooses, when he chooses. Please give the guy a break. I for one will not be selling a single share anytime soon. HINT HINT.
BOOYAH Birds of Fire & Cowboy!
I have learned to ignore the bashers, purveyors of doom and naysayers. I'm only concerned about things that make me money. After all, isn't that why I (and all of us) got involved in the market and CKYS? Ultimtately, I only care about if CKYS makes me money or not. I believe it will. It may take a little longer, but I, for one, don't care.
dunno
glta tomorrow, this week and moving forward.
He is preparing a lengthy, detailed, positive post.