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wow, 18 trades for a total value of $0.20.
What we need is not a R/S but an acquisition by SIG or TIF.
Good tune for the moment, with "She" being "LAHO"
Suretrader, which is a trading platform specializing in penny and subpenny stocks told me they do not process grey market trades.
The SEC gave a stock answer about requiring a 211 filing to trade on the pinks.
Looks to me that the average private trader is not going to be able to sell - or buy , for a while.
Say you had 9000000 shares at .0001, after split you have 900 shares at $1.00.
plenty of room to go down and lost all leverage to make big money.
Sad, but true , your $900. will almost certainly diminish very quickly.
I-trade, which used to be E-trade in Canada , told me they do NOT deal in Grey sheet trades.
Doesn't seem right, since they processed the buy order for LAHO
Anyone have experience with a timeline for resuming trading on the pink sheets if SEC requirements are met?
He has succeeded in bringing BRGO current. I've never seen an R.S do anything but slaughter shareholders, but if what he says about the business developments is true,maybe the new PPS will start to go up after the initial panic selling.
I'm still getting updates, wonder why yours stopped.
I'm still getting updates, wonder why yours stopped.
I won't go on about this.
So he is suing out of spite? Instead of waiting until ha actually might gain something ?
D'Couto has had several patents issued over the years. I don't want to spend time finding their relevance again.
What is the point of looking at the situation in a negative light?
I have been talking with my "I trade" , Canadian E trade, broker and they will not process Grey market trades.
Something to do with what is required being outside the U.S.
So dealing with a Canadian Broker , looks like we are SOL.
We do not know that Petrovic was mistreated.
Seems to me that his lawsuit points toward some real value in what XNRGI has developed , which would bode well for us if XNRGI succeeds and initiates an IPO.
Bill's right though, those patents have to be unencumbered.
So why would he sue now?
Information on Form 10 and 211 filing.
I think we'll have to wait a while, unless grey market trades head up.
I think it is important to note that form 211 covers the resumption of trading as well as initiation.
So I don't think we have to worry about our shares disappearing.
SEC Form 10 is a filing with the Securities and Exchange Commission (SEC), also known as the General Form for Registration of Securities. It is used to register a class of securities for potential trading on U.S. exchanges. Any company with over $10 million in total assets and 750 or more shareholders is required to file a Form 10 with the SEC. Any company under these thresholds may file a Form 10 voluntarily. The Form 10 registration statement automatically becomes effective sixty days post-filing.
SEC Rule 15c2-11
Rule 15c2-11 covers the requirements necessary for the initiation or resumption of electronic quotation of securities in the OTC Markets. FINRA is the regulator responsible for the OTC Markets including the OTCBB and Pink Sheets. Pursuant to SEC Rule 15c2-11, a Market Maker must file Form 211 with FINRA.
Form 211
Form 211 provides the basic information regarding the company. In order to fully comply with Rule 15c2-11 there are many more items that need to be provided to the Market Maker. There are also some minimums that are important to note.
Minimum Qualification Test
At least 30 Shareholders with free trading shares
At least 1 million shares outstanding
At least 250,000 free trading shares
Either patient or a patient - in the psych ward.
That post 55063 gave some false hope.
3 Other stocks were reinstated but they were either trading again on alternate markets or the grey sheets. eg, GAOQ.
Didn't really need that .
I cannot find LAHO on the daily list for today.
What did you find ?
Thanks for that link.
Lans has to answer to the proceedings against them by the 19th Sept.
Anyone know why these proceedings are targeting Momentous Entertainment as well?
Is there a connection between the two?
Thanks for the link. Their contact info seems active and I successfully sent a message to them
I'll see if they respond.
So technically, in the short term, there is no way this could start trading again on the pink sheets.
Is that correct?
What happens when the suspension ends? Is the piggyback exception history?
In any event , here is am link to the suspension for those interested in reading it directly.
https://www.sec.gov/litigation/suspensions/2019/34-86883-o.pdf
What about the "piggyback exception"?
"A "piggyback qualified" security is one that meets the frequency-of-quotation requirement described in SEC Rule 15c2-11(f)(3). ... As long as the security remains piggyback qualified, any participant may quote the security without a Form 211 submission."
In the suspension it mentions LAHO qualified for that.
In the overview on the OTC Market for LAHO.
At the bottom of the Caveat Emptor explanation.
https://www.otcmarkets.com/stock/LAHO/overview
OTC Markets will resume the display of this security’s quotes once adequate current information is made available by the issuer pursuant to the Alternative Reporting Standard or by the SEC Reporting Standard, and until OTC Markets believes there is no longer a public interest concern.
I have contacted the SEC directly to get answers . I'll post any response I receive.
On another front, I doubt large brokers like i trade would even handle grey market trades.
Anyone know how trades take place down there ?
If the company responds within the ten days can they not become current and avoid the grey sheets altogether ?
Here is the link to the Suspension order.
By Friday the 20th of September we should know whether this trades on pink or grey.
https://www.sec.gov/litigation/suspensions.shtml
But there is no requirement for a form 211, which is the reason quotes are not provided.?
Someone mentioned earlier about Lans having a "PiggyBack exception", which was a good thing.
Here's the definition.
Piggy-Back Rule
A "piggyback qualified" security is one that meets the frequency-of-quotation requirement described in SEC Rule 15c2-11(f)(3). The frequency-of-quotation test or "piggyback" exception is based on whether a broker/dealer has itself published quotations in the security in the applicable interdealer quotation system on at least 12 business days during the preceding 30 calendar days, with not more than four consecutive business days without quotations. Once this criteria has been satisfied, authorized participants may register on-line in a security. As long as the security remains piggyback qualified, any participant may quote the security without a Form 211 submission.
Anyone understand the implications of this ?
Thanks for this, a glimmer of hope and real.
Possible contact info for Dave Christensen.
http://www.etcinc2.com/
What about Dave Christensen ? I thought he had impressive credentials.
https://www.linkedin.com/in/dave-christensen-b38a82/
Can't sell, trading suspended, remember ?
Quite a ride, like watching paint dry now.
Grey paint?
looks like in 10 days we should know more.
" IT IS FURTHER ORDERED that Respondents shall file an Answer to the allegations
contained in this Order within ten (10) days after service of this Order, as provided by Rule
220(b) of the Commission’s Rules of Practice, 17 C.F.R. § 201.220(b)."
SEC Suspension
The SEC can suspend a stock from trading for up to ten trading days when it serves the public interest and will protect investors. The SEC will act when it believes public information about a company is not current, accurate, or adequate. For stocks that trade in the OTC or the over-the-counter market, quotation does not automatically resume when a suspension ends. (The OTC market includes OTC Link and the FINRA BB.) After a suspension, SEC regulations require a broker-dealer to review information about a company before publishing a proprietary quote. If a broker-dealer does not have confidence that a company's financial statements are current and accurate, especially in light of the questions raised by the SEC, then a broker-dealer may not publish a proprietary quote for the company's stock. However broker - dealers may publish quotes representing an unsolicited customer order.
Watching the news tonight and the first patient ever cured of HIV was given stem cells from a non HIV infected donor.
Has to bode well for stem cell companies.