Encounter Development Technologies Inc. (ENTI)

[Nabbbss]

The NEW FINRA RULES that start Feb.28 (more)...

This Link below will provide the full, Official verbiage of the
THREE NEW LAWS/RULES:

http://www.finra.org/Industry/Regulation/Notices/2010/P122255

There are three new Laws/Rules gaining attention in the NSS Market Reform arena:

1) FINRA 4320 goes into effect on 02/28/11. It mandates
13-day Buy-ins for open delivery failures FINALLY applying to
Shares of non-reporting corporations.
[Nabbbss' edit: These are the PinkSheets.]

Nabbbss' interpretation (additional Board input about this is welcome):
This Rule/Law means that MMs MUST buy/acquire -- within 13 days --
any and all Shares that they MAY HAVE Short-Sold when those
Shares WERE NOT in their possession. In turn, THIS means that
the MMs CANNOT play, and extend, their little nefarious,
insidious, avaricious "Games" any more.


2) FINRA 2010-043, also starting on 02/28/11, reinstates
the "Short Sale Exempt" (SSE) Marking requirements for Trade-reporting
and the OATS system. Those MMs accessing the bona fide MM Exemption
from executing pre-borrows (or "locates") before admittedly
Naked Short Sales (NSS) must now FORMALLY ACKNOWLEDGE the
accessing of that universally-abused Exemption.

Nabbbss' interpretation (additional Board input about this is welcome):
Being that these Trades are theoretically being made to "inject
liquidity," then the excuse for hiding the related Trade data
from the public’s eyes goes out the window. You can’t have it
both ways and claim the bona fide MM Exemption, and
then later claim that the related Trade data needs to be kept
secret because it might reveal a "proprietary Trading strategy."
This ends the pure charade and "BS" of it all!

Truly bona fide MMs that are able to Legally access that
universally-abused Exemption cover their Naked Short positions
ON THE NEXT downtick after their Short Sale, when Buy-side
liquidity is in need of being injected as Share prices fall.


3) The 3rd new Rule/Law, which is in effect now,
states that the Offers and Bids that MMs post MUST BE of
approximately THE SAME SIZE (quantity). No longer can the Offers
be of 1 million Shares and the offsetting Bid good for only the
minimum 5,000 Shares.


MORE of Nabbbss' interpretation (additional Board input about
this is welcome):
The verbiage in 4320 ( No.1) above) is especially well done, as
it FINALLY puts the Clearing Firms that aid and abet this
near-crime wave on the spot.

With the FFETF, which is made up of 25 different agencies, now
on the scene, the transparency has increased markedly.

You can imagine how critical the lack of transparency is to a
scheme involving Selling non-existent Securities, and then
refusing to ever deliver those which you Sold, AFTER being
allowed access to the funds of the Investor(s) being defrauded
or fleeced.


All the Best to Everybody and ENTI / Yellow Pages / MMx!$