Walter, you are right about the regulations being a restraint at this time for LWLG. I suppose you are well informed about them; the regulatory and brokerage material is easy to find -- not always easy to understand.
My brokerage house reps have cautioned me to avoid penny stocks as too risky. I've had to sign off on my determination to buy unlisted stocks against their advice. Brokerage houses in general cringe when they see portfolios load up with stocks under $5. Also, they have no institutional analysts to back any recommendations of non-listed equities. In their environment that is important. Ignoring the rules can mean you lose your job and are avoided by others in the industry. If anyone investigated Lightwave, they would look at the 11 pages of risk factors detailed in the 10-k and hold to their standard procedures.
"PENNY STOCK RULES, SEC Rule 15g-9, known as the Penny Stock Rules, is designed to prevent deceptive or manipulative practices. It provides that a broker cannot sell a Penny Stock to any person unless it has approved that person's account for penny stock transactions and the broker/dealer has received in writing from customer agreement to the transaction. Approving an account includes, among other things, reviewing the customer's financial data and determining the customer's suitability, including the capability to evaluate the risks of trading in penny stocks. Some types of transactions in penny stocks are exempt from these rules. Exempt transactions include those with an established customer (a customer of more than one year or one who has made at least three separate penny stock purchases) and transactions in which the customer is an institutional investor." (source: CFO website).
Investopedia has similar material from the Series 7 professional exam for brokers. Brokerage houses post this on their websites; it is mandatory to provide transparency and reduce risky trading in the U.S. environment.
The solution for LWLG is to get contracts, revenues, profits. When the shares go above $5 and the Co. meets other requirements, then we will see the BOD make a push to be listed, probably on NASDAQ. The rest will follow in good order.
BTW, someone posted that the Morgan Stanley rep asking a CC question was doing so as an individual investor.
After this "boilerplate" response, I wonder if your remarks about ignoring the regulations were meant to provoke someone to respond. Curious minds wonder: Does that "attitude" show up in your golf game? LOL
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