Secure Point Technologies Inc (fka IMSCQ)

[satelliteguy]

Omigod, where do I begin? Let's start with some obvious ones and I'll leave the rest of the education to anyone who has more time to post.

1. For the past 10-plus years, virtually every individual in the world has had the ability to have his or her stock orders directly reflected in the publicly displayed bid and offer. The intervention of market makers is rarely necessary in liquid issues, other than to automatically represent orders coming from customers of brokerage firms, and if you can buy on the bid and sell on the offer OTC MMs can't rely on making the spread. That change led to many MMs ceasing to trade for their own accounts in most OTC stocks several years ago.

2. The move to trading in decimals (and even fractions of a penny) has eliminated wide spreads in liquid issues, so if MMs had to make their money from spreads they'd all go out of business.

3. Everything is computerized now. No human being at NITE is sitting there wondering whether to manipulate IMSC's closing price by a penny or two.