Replies to post #1019 on Michelex Corp (fka MLXO)

[VST7]

RPT; Well My Opinion of the SEC is "It's a FREAKIN JOKE" They pick and choose what laws they enforce and then pick and choose which companies they enforce them on! The allowing of Naked shorting to go on is the worst case I have ever seen of Non-Enforcment of the Law, while off-shore Hedge funds Pillage small companies. Another scenario is not forcing MM's to report to the public the short positions on BB stocks like MLXO, this is wrong, we have a right to know!!!

[hurley cruppers]

OTCBB Issuers that Repeatedly File Untimely Financial Reports May Face Ineligibility for One Year

http://www.otcbb.com/news/2005/GeneralNews/threestrikes.stm

Summary

OTCBB issuers that file late periodic reports three times or are removed for filing delinquency two times in a 24-month period will be ineligible for OTCBB quotation for one year.
The proposed rule amendment is anticipated to be effective for filings with a period ending on or after June 1, 2005.
Contact information
Background
NASDAQ® recently filed a proposal with the Securities and Exchange Commission (SEC) to amend NASD Rule 6530 (the “Eligibility Rule”), which requires OTC Bulletin Board® (OTCBB) issuers to file timely periodic financial reports. The proposed change would make those OTCBB issuers that are cited for filing delinquency three times in a 24-month period and those OTCBB issuers removed for failure to file two times in a 24-month period ineligible for quotation on the OTCBB for a period of one year.

This change was proposed to help further the original goal of the Eligibility Rule, which is to protect the public interest by ensuring that timely financial information is routinely available to investors.

NASDAQ anticipates implementing the proposed rule in connection with filings for periods ending on or after June 1, 2005. Delinquent filings prior to that period will not count towards the new rule. Therefore, upon implementation, no issuer would be made immediately ineligible from continued quotation on the OTCBB. For full details concerning the proposal, click here for a copy of NASDAQ’s filing with the SEC.

Contact Information
For questions or more information regarding this proposed change, please contact:

OTC Bulletin Board, at 301.978.8263.


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The OTC Bulletin Board (OTCBB) is a regulated quotation service that displays real-time quotes, last-sale prices, and volume information in over-the-counter (OTC) equity securities. An OTC equity security generally is any equity that is not listed or traded on NASDAQ or a national securities exchange. OTCBB securities include national, regional, and foreign equity issues, warrants, units, ADRs, and Direct Participation Programs (DPPs).
NASDAQ is the world’s largest electronic stock market. With approximately 3,300 companies, it lists more companies and, on average, trades more shares per day than any other U.S. market. It is home to category-defining companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology industries. NASDAQ is the primary market for trading NASDAQ listed stocks. Approximately 51% of NASDAQ-listed shares traded are reported to NASDAQ systems. For more information about NASDAQ, visit the NASDAQ Web site at www.NASDAQtrader.com.