Patriot Energy Corporation (PGYC)

[Jim Bishop]

I think where the confusion lies with the brokers and even with some people at the SEC is that they think of the Grey Market as just another Pink tier.

So they say yes it will trade on the Pinks. If they added, but it will be on the Grey tier with no market makers, then they would be more correct.

http://www.pinksheets.com/pink/otcguide/investors_market_tiers.jsp



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.