Here is the definition of Grey Market as shown on Pinksheets.com:
There are no market makers in this security. It is not listed, traded or quoted on any stock exchange, the OTCBB or the Pink Sheets. Trades in grey market stocks are reported by broker-dealers to their Self Regulatory Organization (SRO) and the SRO distributes the trade data to market data vendors and financial websites so investors can track price and volume. Since grey market securities are not traded or quoted on an exchange or interdealer quotation system, investor's bids and offers are not collected in a central spot so market transparency is diminished and Best Execution of orders is difficult.
(as of this weekend):
Trade Data / Last Trade 08/01/2008 Last Sale 7.00 Change +0.00
% Change +0.00 Tick Down
Daily High 0.00 Daily Low 0.00
Opening Price 0.00 Volume 0
52 wk. High 3.76 52 wk. Low 0.10
Prev Close 7.00 Dividend 0.00
Yield 0.00 Beta Coefficient 0.78
As the company begins to make periodic filings, I would anticipate that they would migrate off of the grey market onto the more traditional quoted systems. It will be a long haul for the legitimate shareholders, but unfortunately, what is required to emerge from the train wreck created by the alleged illegal activities of Carmichael, Gilchrist, Cloud, Mordekhay, and others in the old management.
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