Replies to post #5717 on David Lazar's OTC SPAC's/CUSTODIAN Plays

[nsomniyak]

That article did not mention when the new rule goes into effect. Does anyone know that from a more direct source?
EDIT: the SEC site says "effective 60 days after publication in the Federal Register"
ANOTHER EDIT: Here is the link the the new rule on the SEC site
https://www.sec.gov/rules/final/2020/33-10842.pdf

As to your first question - some Lazar stocks are current in their financials, others are not. One of the things he does is get the financials current.

As to your second question, I don't know as I don't follow XNNHQ. If the financials are current there, the rule benefits ZNNHQ, otherwise it is not good for XNNHQ.

Being "current" has always made a penny stock worth more than if not. This gap may widen if it becomes hard to get quotes for non-current stocks. If the rule is interpreted to mean "brokers can not provide a quote if the stock is not current" it will become MUCH harder to trade DL shells in the early stages of their rehabilitation.