Replies to post #188027 on Creative Edge Nutrition Inc (FITX)

[lucky, mydog]

an mm can not charge a fee to sponsor and submit a 211. what they do get if such application is accepted by finra is a 30 day exclusive to make a market.

[sidedraft]

Yes they do, when it comes to a 211 submission to FINRA.

they don't work for free.

[1manband]

Geez, by that i meant it costs money im sure to have a broker back any security, they don't work for free.

FINRA prohibits any broker or market maker from receiving any payment for submission of a 15c2-11 or for making a market in a security. So FITX cannot pay them for helping them with the submission to get off the gray market.

In lieu of payment, a MM does it because they feel they will make money on the trading of the security. Not because of any payment.

But no MM will submit a 15c2-11 on an SEC suspended security currently under SEC investigation. They are legally required to vouch for the accuracy of the financial information and disclosure presented on the 15c2-11, which the SEC suspension notice states is not accurate. Which means a 15c2-11 is absolutely impossible to submit at this time.