Replies to post #65483 on Bots Inc (BTZI)

[lesgetrich]

It's exactly what I've been saying. There is no violation unless it's associated with actual trading activity...

and other market professionals who may be likely to trade on the basis of selectively disclosed information.

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The fourth category of person included in Rule 100(b)(1) is any holder of the issuer's securities, under circumstances in which it is reasonably foreseeable that such person would purchase or sell securities on the basis of the information.

For the purpose of full disclosure, I am semi retired and have not used my securities license to deal in securities for over two years. My securities business was sold off almost two years ago. My license is currently suspended for inactivity and will expire early next year unless I renew it (which I currently don't plan to do). Other than on this board and Seeking Alpha, which are public forums, I do not give investment advice. I have not traded mCig shares prior to or immediately after my discussions with Paul and publishing the information.

Again, the rule is intended to keep securities professional from selectively disseminating insider information to their clients or using it to profit for themselves...

SEC - Selective Disclosure and Insider Trading

Rule 10b5-1 addresses the issue of when insider trading liability arises in connection with a trader's "use" or "knowing possession" of material nonpublic information. This rule provides that a person trades "on the basis of" material nonpublic information when the person purchases or sells securities while aware of the information. However, the rule also sets forth several affirmative defenses, which we have modified in response to comments, to permit persons to trade in certain circumstances where it is clear that the information was not a factor in the decision to trade.

First, we have narrowed the scope of the regulation so that it does not apply to all communications with persons outside the issuer. The regulation will apply only to communications to securities market professionals and to any holder of the issuer's securities under circumstances in which it is reasonably foreseeable that the security holder will trade on the basis of the information.

Second, we have narrowed the types of issuer personnel covered by the regulation to senior officials and those persons who regularly communicate with securities market professionals or with security holders. The effect of these first two changes is that Regulation FD will not apply to a variety of legitimate, ordinary-course business communications or to disclosures to the media.

Seeking Alpha and this board qualify as "the media".