Solar Energy Initiatives Inc (SNRY)

[MattyBS]

I saw this post over on S7HC board, but I think the rule would be similarly applicable to SNRY since the number one goal, post custodianship, would be a RM.

Here is the relevant portion of amended Rule 15c2-11.

Quote:The amended Rule appropriately balances the promotion of investor protection and the facilitation of capital formation by allowing broker-dealers to maintain a quoted market in the securities of shell companies to provide opportunities for privately held companies to engage in reverse mergers with such publicly quoted shell companies, for a limited period of 18 months.

I am not certain how to interpret this, but am looking into it. This could definitely be helpful for SNRY as well as other OTC "shell" companies that are currently going thru a merger process and have not yet become a current reporting entity.

It might buy them some more time before it gets dire if this Court deal continues to languish.

Thoughts?