Replies to post #19279 on Anavex Life Sciences Corp (AVXL)

[TrueTrades]

Thank you.
§AVXL

[tootalljones]

I second that.

[Doktornolittle]

Probably already been responded to... but it's not necessarily big Pharma that would be the big buyers. There are funds that have rules against investing in stocks with SP's below $5, or any SP if it's OTC. Those big dogs are out of the picture until AVXL gets up-listed.

http://www.sec.gov/answers/penny.htm

"Because of the speculative nature of penny stocks, Congress prohibited broker-dealers from effecting transactions in penny stocks unless they comply with the requirements of Section 15(h) of the Securities Exchange Act of 1934 ("Exchange Act") and the rules thereunder. These SEC rules provide, among other things, that a broker-dealer must (1) approve the customer for the specific penny stock transaction and receive from the customer a written agreement to the transaction; (2) furnish the customer a disclosure document describing the risks of investing in penny stocks; (3) disclose to the customer the current market quotation, if any, for the penny stock; and (4) disclose to the customer the amount of compensation the firm and its broker will receive for the trade. In addition, after executing the sale, a broker-dealer must send to its customer monthly account statements showing the market value of each penny stock held in the customer's account."