Replies to post #72 on Gnome of Zurich

[cantgetmyname]

Very interesting. There is one thing I know is not accurate.

Penny stocks are specifically excluded from safe harbor protection. They like to put the safe harbor claim in their PRs anyway.

Section "b" under exclusions,
http://www.law.uc.edu/CCL/33Act/sec27A.html


and here http://www.sec.gov/rules/final/33-8591.pdf
search the PDF for "penny" and every time I found it, it was to say that these protections do not apply.


"Specifically, Rule 163A is not available to communications made in connection with:
• offerings by a blank check company;
• offerings by a shell company; or
• offerings of penny stock by an issuer"

"For instance, we have
repeatedly stated our belief that blank check companies, shell companies, and penny
stock issuers may give rise to disclosure abuses.224 In addition, Congress determined not
to extend the safe harbors for forward-looking statements to issuers of blank check and
penny stock securities, as well as issuers previously convicted of certain felonies and
misdemeanors and issuers subject to a decree or order involving a violation of the antifraud
provisions of the federal securities laws.225"