Replies to post #100880 on Protagenic Therapeutics Inc. (PTIX)

[Rprater]

Re: ATRN - Atrinsic, Inc. - PINK
« Reply #3411 on: Today at 07:26:05 PM »
Quote
Is someone could please repost this in reply to old hillbilly it would be greatly appreciated. Make sure you reply to his post !

I found the actual sec law for exceptions instead of just an article.

Exclusions

Except to the extent otherwise specifically provided by rule, regulation, or order of the Commission, this section shall not apply to a forward-looking statement--

that is made with respect to the business or operations of the issuer, if the issuer--

during the 3-year period preceding the date on which the statement was first made--

was convicted of any felony or misdemeanor described in clauses (i) through (iv) of section 15 (b)(4)(B) of the Securities Exchange Act of 1934; or

has been made the subject of a judicial or administrative decree or order arising out of a governmental action that--

prohibits future violations of the antifraud provisions of the securities laws;

requires that the issuer cease and desist from violating the antifraud provisions of the securities laws; or

determines that the issuer violated the antifraud provisions of the securities laws;

makes the forward-looking statement in connection with an offering of securities by a blank check company;

issues penny stock;

makes the forward-looking statement in connection with a rollup transaction; or

makes the forward-looking statement in connection with a going private transaction; or

that is--

included in a financial statement prepared in accordance with generally accepted accounting principles;

contained in a registration statement of, or otherwise issued by, an investment company;

made in connection with a tender offer;

made in connection with an initial public offering;

made in connection with an offering by, or relating to the operations of, a partnership, limited liability company, or a direct participation investment program; or

made in a disclosure of beneficial ownership in a report required to be filed with the Commission pursuant to section 13(d) of the Securities Exchange Act of 1934.

http://taft.law.uc.edu/CCL/33Act/sec27A.html

From the university of cincinnati! That's the actual law. A company is exempt from safe harbor only if they ISSSUUUEEE penny stock. That does not mean all penny stocks are exempt from safe harbor! Sorry for the confusion!