Solaris Power Cells Inc (fka SPCL)

[DwyaneMcRoberts]

The company has clearly been in contact with the SEC:

Likely satisfying the requirements for 'Rule 10b-18'

The Rule 10B-18 is a Securities and Exchange Commission (SEC) rule that provides a "safe harbor" for companies and their affiliated purchasers when the company or affiliates repurchase the company's shares of common stock. This means they will not be deemed to have violated anti-fraud provisions of the Securities Exchange Act of 1934. The repurchases must fall within the four conditions of the rule.

(1) Manner of purchase: The issuer or affiliate must purchase all shares from a single broker or deal during a single day.

(2) Timing: An issuer with an average trading volume less than $1 million per day or a public float value below $150 million is unable to trade within the last 30 minutes of trading. Companies with higher average-trading-volume or public float value can trade up until the last 10 minutes.

(3) Price: The issuer must repurchase at a price that does not exceed the highest independent bid or the last transaction price quoted.

(4) Volume: The issuer can't purchase more than 25% of the average daily volume.

Even though the rule provides safe harbor, the repurchases must be reported in compliance with the various regulations. The safe harbor is not available if the repurchases were made in an effort to evade federal securities laws.


Read more: Rule 10b-18 http://www.investopedia.com/terms/r/rule10b18.asp#ixzz4lWzTe17y