Replies to post #17025 on Act Clean Technologies Inc. (fka ACLH)

[jojobeans]

FYI - Just wanted to add my 2 cents here and I am also waiting for trading to commence on Wed but, I thought I saw a post here which stated that financials had to be audited before a MM signs off on the 211 That would be true if ACLH was a bulletin board co before the suspension, but since it was a pinky the financials do not have to be audited only GAAP. SO since they recently filed financials, a Market maker could expedite the process since no audit is required.

From Finra website FAQ's

Do financials submitted with the Form 211 have to be audited?
Yes, the periodic reporting requirements under NASD Rule 6530 require annual audits of an OTCBB issuer's financial statements. However, current FiNRA rules do not require the financial statements of Pink Sheet issuers to be audited, but they should be prepared in accordance with GAAP or, for foreign issuers, in accordance with their home country's accounting standards.

[thekwister]

Having been a prior practicing lawyer in CA before being suspended from practicing, Russ Kidder should have known the serious nature of violating SEC rules. Maybe since he and Shipley had gotten by many times in the past,they figured it would work out again.

[Our-Street]

I know you would like it to be due to sloppiness or slow responsiveness but I am afraid that will turn out to be wishful thinking. What you will discover is that what the company claimed and what really happened, if something actually did happen, will be totally different.

You need to prepare yourself for the likelihood that you were conned and that your money is gone.. for the most part. Denial never saved an investment... it just drags the pain out... sometimes for a very very long time.