Earlier today I sent off a memo to the SEC requesting information on this "quiet Period" we are in. In a nutshell I had requested verification that the SEC had issued this order to EVCA. Here is their response...fyi
Priority: Normal Date: Wednesday, April 20, 2011 8:28 PM Size: 5 KB
Dear Mr. xxxxxx:
Thank you for contacting the U.S. Securities and Exchange Commission. You ask about what is known as the "quiet period" after an initial public offering (IPO). The quiet period is also referred to as the "waiting period." Both terms are not defined under the federal securities laws. Please note that the quiet period extends to both before and after the IPO.
The quiet period occurs from the time a company files a registration statement with the SEC until SEC staff declares the registration statement "effective." In this is particular case, Evcarco has a pending registration statement filed on July 27, 2010 and amended on August 3, 2010 which has not been approved. During this period, the federal securities laws limit what information a company and related parties can release to the public. For more information, see our Fast Answer at http://www.sec.gov/answers/quiet.htm. Please note that SEC staff is currently updating this Fast Answer.
The other quiet period begins after the registration statement becomes effective and during trading after the initial public offering (IPO). This period lasts for 40 days applying to, for example, underwriters involved in the IPO. Specifically, the NYSE and FINRA rules impose quiet periods that bar a brokerage firm that acted as manager or co-manager of a securities offering from issuing a report on a company within 40 days after an IPO or within 10 days after a secondary offering for an inactively traded company.
I hope you find this information helpful. If you have further questions, please contact me at 800-732-0330.
Sincerely,
Rinell Randolph Attorney Office of Investor Education and Advocacy U.S. Securities and Exchange Commission
File Attachment: Correspondent Name: Mr. James xxxxxxx Create Date: 4/20/2011 Origin: Web File #: HO::~00130385~::HO Description: As an investor in a certain stock EVCA, I was informed by the CEO that you folks have issued a "Quiet Period" for this stock and that Management is unable to respond to any questions regarding their business plan. My question to you folks is:
Did you issue a quiet order to EVCA (Evcarco)?
As an investor in this stock there are many of us who have a lot of money tied up in this and are beginning to become concerned that the Management of EVCA is not being forthcoming to our requests for information. As a matter of fact they told me to contact you folks for clarification.
Please clarify, Has the SEC issued a "quiet" order for this company?
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