Replies to post #8170 on Plasticon International, Inc. (fka PLNIQ)

[state780]

Why would the PS position seem hollow?

Those are two separate services. The L2 feed is something PLNI pays for on its own website. The feed on pinksheets.com has all kinds of associated information, vetted to some degree by independent sources, represented as the best available information as far as pinksheets is concerned. That's why the L2 was pulled down--they don't feel they can verify much of anything. The only information being provided with the internal feed at the PLNI website is the L2s--which nobody disputes.

Two entirely different animals, IMO.

[shortsinthesand]

TFN,

I don't see this as "hollow" whatsoever? I see this as a very serious situation that PLNI has put itself in...

http://www.pinksheets.com/otcguide/15c2-11_guidelines.pdf

http://www.pinksheets.com/otcguide/issuers_index.jsp

When Does an Issuer Need to Provide Adequate Current Information to the Public?
Pink Sheets believes adequate current information must be publicly available when an issuer's securities are traded in the OTC secondary markets under the following circumstances:

-At the time of initial quotation in public markets;

-At any time corporate insiders or other affiliates of the issuer are offering, buying or selling the issuer's securities in the OTC market;

-During any period when a security is the subject of ongoing promotional activities having the effect of encouraging trading of the issuer’s securities in the OTC market; or

-At the time securities initially sold in a private placement become freely tradeable in the OTC market.


If any of the the four above situations are occurring, issuers subject to Section 13 or 15(d) of the Securities Exchange Act of 1934 must be current in their reporting obligations to the SEC and if an issuer is not required to be SEC reporting, we provide the Pink Sheets News Service for those non SEC reporting issuers to make their information publicly available.

Pink Sheets has created Guideline for Providing Adequate Current Information Pursuant to Rule 15c2-11 (pdf) to help OTC traded issuers to understand what information they are required to provide to the public.

As a matter of policy Pink Sheets will not publish quotations on www.pinksheets.com for any security when it has come to the attention of Pink Sheets that the security is the subject of ongoing promotional activities and adequate current information concerning the issuer is not publicly available. Pink Sheets will not resume publication of quotations for such securities unless and until it receives a legal opinion, in form and substance acceptable to Pink Sheets, to the effect that adequate current information is publicly available concerning the issuer and the security and the information has been posted on the Pink Sheets News Service. See Pink Sheets Letter to Attorneys Providing Opinions with Respect to Promoted Securities (PDF).