Yes most pink sheets do trade unsolicited...as it does cost to have a solicited MM. Do you think that MM's just remain loyal to a company without some sort of payment?? There is always a cost and that cost comes usually in the payment of shares to an MM, with a contract attached.
The 15c2-11 contract is to bring a company onto the pinksheets or OTC:BB and the MM commitment to solicit generally lasts 90 days.
How does a 15c2-11 work?
A 15c2-11 is a legal filing that allows a corporation with a market for its securities to begin trading registered securities.
lol...be careful what you wish for!
Why do you think that any MM works with a pink sheet company in the first place...because they know that the company is in the pinks because they need to sell shares to raise financing. Who do you think are the biggest financiers on the pink sheets...the MM's. This is really where the money is for the MM's.
So how does a pink sheet company remain 'solicited'... the company sells shares to the MM to raise financing...via a contract with the MM and company, the terms of selling those shares as to how many per day or maintaining a stable pps are established. Occassionally, you'll get an impatient MM and they will dump shares against the contract agreement. And some companies don't know enough to stipulate the selling of their shares, by the MM's, too.
Keep in mind that once those 'solicited' shares are sold off and the contractual aggreement has ended, the MM's no longer have an obligation to the company, and will run the pps up or down, depending on the 'market' pressure.
And yes, it does make a difference to get off the pink sheet status for a company...as they are now required to file reports...and financial updates. Even the rules for a company selling shares change on OTC:BB too.
Bottom line is that the OTC:BB requires more accountabiltiy by the company, especially financial, which will allow larger entities to start investing in Spooz or 141.
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