Here is the list of exclusions from protection via safe harbor (or "forward looking statements"). Note that penny stock issuers of any type are not protected.
'(b) EXCLUSIONS- Except to the extent otherwise specifically provided by rule, regulation, or order of the Commission, this section shall not apply to a forward-looking statement-- '(1) that is made with respect to the business or operations of the issuer, if the issuer-- '(A) during the 3-year period preceding the date on which the statement was first made-- '(i) was convicted of any felony or misdemeanor described in clauses (i) through (iv) of section 15(b)(4)(B) of the Securities Exchange Act of 1934; or '(ii) has been made the subject of a judicial or administrative decree or order arising out of a governmental action that-- '(I) prohibits future violations of the antifraud provisions of the securities laws; '(II) requires that the issuer cease and desist from violating the antifraud provisions of the securities laws; or '(III) determines that the issuer violated the antifraud provisions of the securities laws; '(B) makes the forward-looking statement in connection with an offering of securities by a blank check company; '(C) issues penny stock; '(D) makes the forward-looking statement in connection with a rollup transaction; or '(E) makes the forward-looking statement in connection with a going private transaction; or '(2) that is-- '(A) included in a financial statement prepared in accordance with generally accepted accounting principles; '(B) contained in a registration statement of, or otherwise issued by, an investment company; '(C) made in connection with a tender offer; '(D) made in connection with an initial public offering; '(E) made in connection with an offering by, or relating to the operations of, a partnership, limited liability company, or a direct participation investment program; or '(F) made in a disclosure of beneficial ownership in a report required to be filed with the Commission pursuant to section 13(d) of the Securities Exchange Act of 1934.