Replies to post #50944 on First American Scientific Corp. (fka FASC)

[Fasctrack]

"In order to resume trading normally, on the Pinks or OTCMarkets' OTCQB tier, the company must find a market maker willing to file a Form 211 to enable it to regain compliance with Rule 15c2-11. The form looks simple enough, but it is not. And there's a special section asking whether the issue has been subject to a trading suspension. When an MM files a 211, it assumes liability. For that reason, they are not generally willing to sponsor a company that's been suspended unless they have very good reason to believe the SEC will not be bringing a further enforcement action. Usually the agency is unwilling to offer such guarantees, and so the stock is left in limbo."

[TRCPA]

Fasctrack.....still brings me back to what was specifically stated by the SEC itself in regards to broker-dealers and trading.

They will require financials that are "reasonably current and materially accurate".....and I don't see the requirement for specific 10Q or 10K's.

As we have seen, other stocks trading on OTC pink sheets are and have been getting by without ever providing SEC repotts; only with internal financials and trading without recourse.

[janice shell]

Exactly. I wrote that article, by the way.