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Saturday, April 06, 2013 9:03:58 AM
My brokerage house reps have cautioned me to avoid penny stocks as too risky. I've had to sign off on my determination to buy unlisted stocks against their advice. Brokerage houses in general cringe when they see portfolios load up with stocks under $5. Also, they have no institutional analysts to back any recommendations of non-listed equities. In their environment that is important. Ignoring the rules can mean you lose your job and are avoided by others in the industry. If anyone investigated Lightwave, they would look at the 11 pages of risk factors detailed in the 10-k and hold to their standard procedures.
"PENNY STOCK RULES, SEC Rule 15g-9, known as the Penny Stock Rules, is designed to prevent deceptive or manipulative practices. It provides that a broker cannot sell a Penny Stock to any person unless it has approved that person's account for penny stock transactions and the broker/dealer has received in writing from customer agreement to the transaction. Approving an account includes, among other things, reviewing the customer's financial data and determining the customer's suitability, including the capability to evaluate the risks of trading in penny stocks. Some types of transactions in penny stocks are exempt from these rules. Exempt transactions include those with an established customer (a customer of more than one year or one who has made at least three separate penny stock purchases) and transactions in which the customer is an institutional investor." (source: CFO website).
Investopedia has similar material from the Series 7 professional exam for brokers. Brokerage houses post this on their websites; it is mandatory to provide transparency and reduce risky trading in the U.S. environment.
The solution for LWLG is to get contracts, revenues, profits. When the shares go above $5 and the Co. meets other requirements, then we will see the BOD make a push to be listed, probably on NASDAQ. The rest will follow in good order.
BTW, someone posted that the Morgan Stanley rep asking a CC question was doing so as an individual investor.
After this "boilerplate" response, I wonder if your remarks about ignoring the regulations were meant to provoke someone to respond. Curious minds wonder: Does that "attitude" show up in your golf game? LOL
Recent LWLG News
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 08/13/2024 08:58:16 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/12/2024 08:30:07 PM
- Lightwave Logic Provides Second Quarter 2024 Corporate Update • PR Newswire (US) • 08/12/2024 12:31:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/09/2024 08:14:43 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 08/09/2024 08:10:18 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 08/09/2024 08:08:25 PM
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 08/06/2024 04:15:14 AM
- Form S-3/A - Registration statement under Securities Act of 1933: [Amend] • Edgar (US Regulatory) • 07/31/2024 09:05:40 PM
- Lightwave Logic Invited to Present at 2024 European Conference on Optical Communications • PR Newswire (US) • 07/30/2024 12:31:00 PM
- Form S-3 - Registration statement under Securities Act of 1933 • Edgar (US Regulatory) • 07/26/2024 09:07:10 PM
- Lightwave Logic Appoints Industry Veteran Yves LeMaitre to Board of Directors • PR Newswire (US) • 07/23/2024 12:31:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/22/2024 08:47:34 PM
- Lightwave Logic Reaffirms Commercialization Timeline Presented at the 2024 Annual Shareholder Meeting • PR Newswire (US) • 06/03/2024 12:31:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/24/2024 08:01:14 PM
- Lightwave Logic and Advanced Micro Foundry (AMF) Partner to Accelerate Development of Silicon Photonics Modulators Using Electro-Optic Polymers • PR Newswire (US) • 05/21/2024 12:31:00 PM
- Lightwave Logic Provides First Quarter 2024 Corporate Update • PR Newswire (US) • 05/13/2024 12:31:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/10/2024 08:41:09 PM
- Lightwave Logic Demonstrates Thought Leadership with Critical Contributions to Global Integrated Photonics Industry Roadmap • PR Newswire (US) • 04/16/2024 12:31:00 PM
- Lightwave Logic Secures New Patent for Diamondoid Non-linear Optical Chromophore Patent to Improves Material Robustness • PR Newswire (US) • 04/01/2024 12:31:00 PM
- Lightwave Logic EO Polymer Achieves World-Class Performance of 400Gbps with Plasmonic Mach Zehnder Modulator • PR Newswire (US) • 03/28/2024 12:31:00 PM
- Lightwave Logic Demonstrates World-Class 200Gbps Heterogeneous Polymer/Silicon Photonic Modulator Results • PR Newswire (US) • 03/25/2024 12:31:00 PM
- Lightwave Logic to Host Annual Meeting of Shareholders on May 22, 2024 • PR Newswire (US) • 03/19/2024 12:31:00 PM
- Lightwave Logic to Participate in Upcoming Investor Conferences • PR Newswire (US) • 03/15/2024 12:31:00 PM
- Lightwave Logic Provides Fourth Quarter and Fiscal Year 2023 Corporate Update • PR Newswire (US) • 03/01/2024 01:31:00 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 02/29/2024 10:09:53 PM
HealthLynked Corp. Announces Second Quarter and First Half 2024 Results: Continued Cost Reductions Set the Stage for Strategic Shift to App-Based Technology Services • HLYK • Aug 16, 2024 8:00 AM
PickleJar Announces Official Name Change and New Ticker Symbol • NREG • Aug 15, 2024 2:23 PM
VAYK's Q2 Profit Added to Accumulated Net Profit of Over $2.2 Million In 18 Months • VAYK • Aug 15, 2024 9:07 AM
Swifty Global Reports Strong Q2 Performance and Prepares for Major Exchange Uplisting • DRCR • Aug 15, 2024 9:04 AM
Mayback's Global Entertainment Signs Global Distribution Agreement with Children's Media Studio • AHRO • Aug 15, 2024 8:45 AM
POET Technologies Reports Second Quarter 2024 Financial Results • POET • Aug 15, 2024 8:04 AM