Wrong. SLNNE, beginning tomorrow is no longer a Pink Sheet stock. In my opinion,
Grey Sheets Trading Should be Avoided
Grey Sheets, also spelled "Gray Sheets," and also known as the "Gray Market" is another category of OTC stocks that is completely separate from Pink Sheets and the OTCBB.
The differences are as follows . . .
Unlike other financial markets,
• No recent bid or ask quotes are available because no market makers share data or quote such stocks. There is no quoting system available to record and settle trades.
All Grey sheet trading is moderated by a broker and done between consenting individuals at a price they agree on. The only documentation that can be publicly found regarding the trades is when the last trade took place.
• No SEC registration and little SEC regulation. Regulation of Grey Sheet stocks takes place mainly on a state level. Unlike Pink Sheets, these stocks have no SEC registration to possess a stock symbol or to possess shares, or trade shares, of that stock.
• Such penny stocks, similar to Pink Sheets, are not required to file SEC (Securities and Exchange Commission) financial and business reports.
• These stocks may not be solicited or advertised to the public unless a certain number of shares are qualified to be traded publicly under 504 of Regulation D.
• Extremely Illiquid. Gray sheet trading is infrequent, and for good reason... Difficult to trade, not advertised, difficult to follow the price, the least regulation possible, hard to find any information on the stock, very small market cap, little history, and most such stocks do not yet offer public shares; so shares of such stocks are commonly privately held.
The lack of information (bids, history, financial reports) alone causes most investors to be very skeptical of Gray Sheets and avoid them altogether. Grey sheets trading is rarely made by Extraordinary Investors.
• Shares of such penny stocks are privately held and restricted from being sold publicly unless such company files a 504 of Regulation D and meets basic qualifications; for instance, have a concrete plan of operation, and a certain number of private stocks being held for at least one year, and a planned sale of shares worth no more than $1 million. The benefit of the public offering of stock is to raise capital for operations.
AI
