The news is indeed old & irrelevant in this situation but it's interesting that just a couple of weeks ago Fed. Chairman Bernanke was yapping about how the OTC presents a tremendous opportunity for all kinds of fraudulent activities that debunk investors and/or brokers.
Witness the halt of the 35 OTC securities on March 8, 2007. As I'm sure you're aware, the following was posted under the "Pink Sheets News Service" section of each of the halted securities:
"The Commission ordered this trading suspension because of questions that have arisen regarding the adequacy and accuracy of publicly disseminated information concerning among other things: (1) the company's assets, (2) the company's business operations, (3) the company's current financial condition, and/or (4) financing arrangements involving the issuance of the company's shares.
The Commission cautions broker-dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company.
Further, brokers-dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker-dealer has any questions as to whether or not it has complied with the rule, it should not enter any quotation but immediately contact the staff in the Division of Market Regulation, Office of Interpretation and Guidance, at (202) 551-5760. If any broker-dealer is uncertain as to what is required by Rule 15c2-11, it should refrain from entering quotations relating to the security of the company listed above until such time as it has familiarized itself with the rule and is certain that all of its provisions have been met. If any broker-dealer enters any quotation that is in violation of the rule, the Commission will consider the need for prompt enforcement action.
The SEC's Office of Investor Education and Assistance has information for investors and members of the general public on topics directly related to this action by the SEC. See http://www.sec.gov/investor/35tradingsuspensions.htm.
Any broker-dealer or other person with information relating to this matter is invited to e-mail the Securities and Exchange Commission at 35suspensions@sec.gov."
Char, since you are in contact with some of the involved parties, and NOBODY wants the SEC poking their noses into the unfolding situation with BHUB, you may want to consider sharing this information with the involved principals.
...just a suggestion...use your own judgment.
Thanks for all the hard work you & others have done on this board.
Looz
Buy the Titanic and Double Down on the Hindenberg!!!
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