DD Support Board and Research Team

[I-Glow]

I saw the quarterly dividend post but the PR didn't say it was quarterly and the way it was worded I thought it was supposed to be a time time deal.

I still don't understand how SRGE can issue a press release about dividends before they File / get approval from FINRA.

I still believe that the dividend is a hoax to extract more money from investors.

Effective September 27, 2010, the SEC has approved new FINRA Rule 6490 (Processing of Company Related Actions). Rule 6490 requires that corporations whose securities are trading on the over the counter market (OTCQX, OTCQB, OTCBB or PinkSheets) timely notify FINRA of certain corporate actions, such as dividends, forward or reverse splits, rights or subscription offerings, and name changes. The Rule grants FINRA discretionary power when processing documents related to the announcements, and implements fees for these services.

What rules govern the reporting of dividends; when must a company report a declaration of a dividend or other distribution?
Please refer to Rule 10b-17 (Untimely Announcements of Record Dates) of the Securities Exchange Act of 1934 ("SEA"), which generally requires an OTC Equity issuer to provide FINRA's Operations Department notice 10 days prior to the record date of the following corporate actions: (1) the issuance of a dividend or other distribution in cash or in kind; (2) a stock split or reverse split; or (3) a rights or other subscription offering. Failure by an OTC Equity issuer to provide the requisite notice may constitute a violation of Section 10 of the Securities Exchange Act of 1934.

What is the "record date" for a dividend?
The date on which a company's records are closed to determine which stockholders are to be sent dividends, proxies, rights, etc.

IG