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Sunday, January 23, 2011 1:50:04 PM
Two points for you to DIGEST:
1) Compliance date was MOVED from Nov. 10, 2010 to February 28, 2011. (per sec release # 34-63247.
2) You asked: "why are they being excluded?" Good heavens...a quick read on the rule and what is INTENDED for would reveal the SEC's reasoning on this matter......you do understand the intent of rule 201...correct? If you did then the following excerpt from earlier SEC releases would make perfect sense: Here you go:
From earlier SEC releases relating to rule 201 and compliance:
per the SEC: "At this time,we are NOT applying rule 201 to NON-NMS stocks quoted on the otc bulletin board or ELSEWHERE in the otc market BECAUSE A NATIONAL BEST BID AND OFFER CURRENTLY IS NOT REQUIRED TO BE COLLECTED, CONSOLIDATED, AND DISSEMINATED FOR SUCH SECURITIES."
The deadline was NOT MISSED..it was extended...and the short exempt reporting rule does NOT INCLUDE NON-NMS STOCKS LIKE EXPH.
GET IT?
Pink Sheets...where failing private companies come to die.
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