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Saturday, March 05, 2011 7:22:18 PM
Transparency has been increasing on the generic otcbb-especially since 1999,but companies are still given a choice of many transparency classifications,including the "no info" and grey market (over 20000 companies alone)classes.
The no info class and many grey market companies have no posted financials. Where is the rule requiring posting? The only rule I know is if you don't have posted financials and get slapped w ce because of perceived promotion(CWRN's case)you have to bring filings current to remove the ce.
CWRN did have postings until Oct 2009 and was in limited info category until that time.
On this board those who are not longs often try to create a connection between pinksheets and the SEC. You don't have to be SEC reporting to be on pinksheets. Most companies on pinksheets(ce,grey,no info,limited info and current info classes) are not SEC reporting.
I don't know whats going on w the DTCC thing yet-just catching up on my reading here-but 2 possible elements come to mind
1)-CWRN has been seriously shorted by a particular mm beyond several peoples previous experiences for many months and that mm sent out a signal it needed shares the day or so before new shorting rules went into effect
2)CWRN has said for a long time they would be changing their cusip # early this year.
I am not familiar w the DTCC thing so don't know if there is any connection between these things but others have mentioned some of this. Apparently reliable postings have previously indicated when there is a cusip change all naked shorts and apparently all shorts will have to cover
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