Replies to post #17028 on Act Clean Technologies Inc. (fka ACLH)

[moneyezz]

nice post they're been going on and on and on and on about that

so it could very well open on pinks lets others said.

[MaskedCat]

LOL jojo, thanks right back to who the heck really knows what it will open on.

[TEX]

From Finra website FAQ's

That looks like language from the otcbb FAQ page, which is accurate as far as it goes.

However, it leaves out some important practical considerations that are covered more fully here:

http://www.otcmarkets.com/pink/otcguide/brokers_211.jsp

notice my bold & underline, for emphasis:

Question #14: Must the financial information required under Rule 15c2-11(a)(5) be independently audited?

Answer: No. rule 15c2-11(a)(5) does not require audited financials. However, a broker/dealer would ordinarily be required to review unaudited financial statements more closely than if the statements were independently audited. Nevertheless, simply because the statements have been audited, a broker/dealer cannot avoid its responsibility to review the financial statements in order to have a reasonable basis to believe that the information is accurate.

In other words, yes, technically possible--but the broker-dealer will take on *even* more responsibility with unaudited data.

And that's only part one of this aspect; part two:

Questions #16: What are the requirements for a broker/dealer if the issuer or its predecessor has been the subject of a Commission trading suspension during the preceding year?

Answer: An SEC trading suspension should alert the broker/dealer of the possibility that information in its possession concerning the issuer may no longer be current or accurate. The broker/dealer must be particularly cautious when seeking to reinstate quotations following an SEC trading suspension. The member must obtain a copy of the Commission trading suspension order or the Commission release announcing the trading suspension. A broker/dealer should, at a minimum, receive assurances or additional information with respect to matters cited in the suspension order or with respect to other matters affecting the broker/dealer's reasonable belief as to the accuracy of the information. Reliance on new information or assurances from prior sources of information in these circumstances, however, requires caution. In exceptional cases, where the source is unable to provide reasonable assurances about the reliability of the information, consultation with an independent accountant or attorney may be warranted. All information gathered in the broker/dealer's investigation of the issues must accompany the Form 211 application.

Just a hedzup...

[mysterymeat]

You might want to go look at their financials again.
The financial statements included herein have not been prepared in accordance with Generally Accepted Accounting Principles