Replies to post #1036 on U.S Fuel Corp. (fka USFF)

[curiousity_7]

5years, I hope you're wrong, but it wouldn't surprise me if you're right.

I bet NSOLE is glad the new otcbb rule (below) isn't retroactive:

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

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.

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.

[mlong]

Why would Patrick Herda intentionally remain out of SEC compliance? That's playing with fire, boarding Pink Sheets.