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02/24/09 9:47 AM

#38643 RE: Whiplash_Investor #38642

Whip:

The only fact I have is that there is no bid/ask. Interpet that any way you want. But that is a fact.
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TEX

02/24/09 10:15 AM

#38644 RE: Whiplash_Investor #38642

OK, try this link:

http://www.pinksheets.com/pink/quote/quote.jsp?symbol=bihc#getCompanyInfo

Notice below "Contact Information" and "Business Description":

"OTC Market Tier
Grey Market"

FINRA responds to the sponsoring market maker within 3 days, either clearing or requesting clarification. The issuer can inquire about the status, but not the public. You might also note that FINRA had to set up a timetable for market makers who never respond to clarification requests: After 6 months with no response, the app is dead.

Logically, one presumes that a company unable/unwilling to update its own shareholders about:
1) a promised cash divvy

2) an SEC suspension

is not likely to be able to muster the wherewithal to promulgate the information necessary--in about two weeks-- to first convince a market maker to submit a Form 211 , and second that said documentation would be in shape to fly through FINRA without clarification.

Here's some background reading:

http://www.pinksheets.com/pink/otcguide/issuers_getquoted.jsp

http://www.otcbb.com/aboutOTCBB/forms/form211.pdf

http://finra.complinet.com/en/display/display.html?rbid=2403&record_id=2678&element_id=2437&highlight=form+211#r2678

Pure logic aside, it's simply unrealistic to expect this off of greys as quickly as one might hope. An SEC suspension is serious business, and market makers won't take on sponsorship as some sort of slapdash affair.
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janice shell

02/24/09 5:52 PM

#38671 RE: Whiplash_Investor #38642

An MM filing a Form 211 needs all kinds of information, including several years' worth of accurate financials for the company.

Can't be done in a few days, and in this case it hasn't been done. BIHC is on the Greys, and will probably stay there.