Interplay Entertainment Corp (IPLY)

[Ned Flanderzss]

Charles Schwab has confimred per FINRA modification 15c2-11 that IPLY will be reduced to closing only trades in late August. Call them for confirmation or call your broker and inquire. https://www.sec.gov/news/press-release/2020-212

More info here. https://www.hinckleyallen.com/publications/sec-revises-exchange-act-rule-15c2-11-key-changes-to-retail-investor-protections-and-quotations-for-over-the-counter-securities/


"Amendments generally prohibit broker-dealers from publishing quotations for an issuer’s security when issuer information is ------not current---- and publicly available,

subject to certain exceptions. The amendments impose the following new requirements on broker-dealers:

A broker-dealer or qualified interdealer quotations system (“IDQS”) must obtain and review certain current and publicly available specified documents and information regarding OTC issuers before commencing a quoted market in an OTC issuer’s security (“information review requirement”). Depending on the issuer, these documents may include:
a prospectus as required by 10(a) of the Securities Act of 1993 that became effective less than 90 days prior to the day a broker publishes or submits the quotation (the “quotation submission”);
an offering circular provided for under Regulation A, that was qualified less than 40 calendar days prior to the quotation submission;
an annual report (together with any periodic reports and any current reports filed at least three business days prior to the quotation submission, as applicable) filed pursuant to various sections of the Exchange Act, Regulation A or Regulation Crowdfunding; or
certain information specified in the Rule for “catch-all” issuers (e.g., OTC issuers that are not SEC registrants, and not otherwise required to file reports or make disclosures).

Basically IPLY will be dead money come late August unless they get current. Having access to the capital markets would be a good move.