Replies to post #31523 on Michelex Corp (fka MLXO)

[MABMAN8]

Have faith Elcheepo :)

The action may not salvage the stock price, but it will at least give it a fighting chance. Under the status quo regime, it's doomed...

[sawdin]

Actually, there is plenty that we can do. Once we remove Messrs. Lacle, Sayed and Saleem from the Board of Directors, we will then remove them from their positions as officers of Michelex.

Although stocks that trade on the OTC Market as Pink Sheet stocks are not required to file, there is nothing preventing them from doing so. If the company is actually legitimate, and if the company wants to attract additional investors, it makes sense for that company to voluntarily file forms with the SEC using EDGAR. In addition, filing using EDGAR makes it easier for the company to move to the OTCBB or a listed exchange.

As I noted in a recent post:
I assume that all of you know that the pool of potential investors for an OTCBB stock is much smaller than the potential pool of investors for NYSE/AMEX securities. The pool of potential investors for OTC Pink stocks is much less than for OTCBB listed companies.

As you know, less demand for a good (e.g., shares of a company's stock) means a lower price.

I was shocked to discover the following information on the OTC Markets websites:
OTC Disclosure & News Service

96.5% of OTC dollar volume takes place in securities with current information available.

and

Less than 1% of total OTC dollar volume takes place in securities categorized as OTC Pink No Information.

Quite honestly, I had no idea that the dregs of the OTC Pink Sheet stocks were so thinly traded, even as a percentage of the volume on the OTC Market. So, for those of you who are just interested in a run generated by a PR, whether real or bogus, imagine what the run might look like if Michelex wasn't labeled as such:



And for those who are not into flipping and day-trading, imagine what Michelex might be worth if Pristine received adequate and timely funding and Michelex was transparent.

[sawdin]

OTC Markets: Investors Information — Investor Protection/Regulation

Who is Protecting You?

The OTC market and broker-dealers’ activities in the market are regulated by The Financial Industry Regulatory Authority (FINRA), the U.S. Securities and Exchange Commission (SEC) and various state securities regulators. In addition, companies with SEC-registered securities are regulated by the SEC. OTC Markets Group does not regulate the OTC marketplace. It is neither a stock exchange nor self-regulatory organization (SRO) and is not itself regulated by FINRA or the SEC.

The OTC Markets website has educational information on their website. Go the banner near the top and select the OTC 101 tab.