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Thursday, March 08, 2007 10:53:19 AM
Texas-
The "greys" is almost/usually always where a suspended stock
starts trading on. There is no MM support for the stock. So
orders are filled on a buyer/seller offer basis; thus you
do not see a true B/A. CKYS got suspended for 10 days and
started trading at .005. I am unfortunately in that one also.
A MM has to file a form 211 to sponsor the stock back onto the
pinks. However, the MM has to satisfy itself that the financial
information, operations of the business, etc. through DD is
transparent enough for them to risk sponsoring the stock. If
an MM sponsors the stock without satisfying the DD requirements
the MM can face stiff fines, etc. It will be an uphill battle
after suspension ends for BIGN. Not insurmountable but tough.
Texas, take a look on the CKYS board. It has everything about
these suspensions you would want to know but were afraid to
ask. It could, in the longrun be a good thing for BIGN. They
will be much more tranparent going forward. Lancaster and crew
will be on the hot seat for awhile. If they cannot back up with documentation satisfactory to the SEC the LOI's, etc---then god help them. When trading resumes, look for this to be
way down as the case with CKYS. I am not being a prophet of
doom here. I have shares here and want BIGN to succeed as much
as any long on this board, but we will have shaky waters ahead.
There will most likely not be any P/R's about this from BIGN as
there attorney's will probably gag them until this is passed.
Mike
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