Friday, August 07, 2015 8:00:12 PM
"3. The projections in the Issuer’s January 21 , 2010 press release that FINRA is concerned about are covered by the safe harbor forward-looking statement rules and regulations."
Every Securities attorney should know...OTC Penny Stocks ARE NOT cover by the Safe Harbor 15 CFR 77z-2.
"(b) Exclusions
Except to the extent otherwise specifically provided by rule, regulation, or order of the Commission, this section shall not apply to a forward-looking statement—
(1) that is made with respect to the business or operations of the issuer, if the issuer—
(C) issues penny stock;"
MIKP tried to hide behind "Safe Harbor"...and couldn't.
I have been waiting awhile to see a penny get that one wrong and try to invoke it.
I wonder if the response from FINRA to that was enough to make BMA run....
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