NanoTech Entertainment Inc (NTEK)

[La Cima]

Standard practice for most of the OTC PR

So, by virtue of standard practice for most of the OTC, that statement is exclusive of FORM 15 filers, including NTEK which issue penny stock.


Safe Harbor does not apply to penny stocks.

Section 27A -- Application of Safe Harbor for Forward-Looking Statements
…
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;
….
http://www.sec.gov/divisions/corpfin/33act/sect27a.htm

http://www.law.cornell.edu/uscode/text/15/77z-2

9/ The District Court rejected the first defense because the statutory SAFE HARBOR does not apply to Commission enforcement actions, or to penny stocks, like UNDR stock, citing 15 U.S.C. §§ 77z-2(b)(1)(c), 77z-2(c), 78u-5(b)(1)(c), and 78u-5(c).

http://www.sec.gov/litigation/opinions/34-53122a.pdf


Larry Spirgel; (SEC Assistant Director 202- 551-3810) of the SEC is a qualified resource to validate lack of applicability of Safe Harbor to companies who issue penny stock, including Form 15 penny stock issuer NTEK.

A few folks on this NTEK forum know and have past discussions with Larry Spirgel.