Friday, September 26, 2008 9:03:18 PM
Hello.
Thank you for your message. We have authorized our transfer agent to release information about the share structure of our stock to the public. I am not aware of any changes to the structure that would result in a fluctuation of the share price, but I encourage you to verify the same with the transfer agent. As far as our company's share price, it is a reflection of what the last trade occurred at, including the movements by market makers who create a market in the stock. As our company is on the Pink Sheets, the price can be subject to wild variances at any given time and without logical reason. The danger of Pink Sheets stocks is that they may drop suddenly based on the trading action of a few individuals or market makers.
Our company supports FINRA's proposed rules with regard to Pink Sheets stocks known as the Manning Interpretation. The Manning Interpretation would require brokers to display their customer orders ahead of their own when their customer's pricing is better. However, since 2007, the Securities and Exchange Commission has allowed FINRA to delay implementation of these rules. The proposed rules can be found at http://www.finra.org/web/groups/industry/@ip/@reg/@rulfil/documents/rulefilings/p019347.pdf .
Investors who trade in Pink Sheets stocks should be outraged by the delays in implementing the Manning Interpretation. We encourage investors to contact FINRA, the SEC, and their congressional representatives to demand implementation of the Manning Interpretation. We believe that the current financial crisis creates an opportunity to have reforms such as the Manning Interpretation pushed through.
As far as releasing the share numbers in a press release, Regulation FD prevents me from advising what will or will not be included in announcements. However, I consider the suggestions of all of our shareholders.
Thank you for your interest in BCND.
Adam Marek, President
Beacon Redevelopment Industrial Corp.
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