Who ever said there will be no delisting of MEGWE read the following:
February 09, 2000 11:51
MegaWorld To Register Its Common Stock With the Securities and Exchange Commission
HOUSTON--(BUSINESS WIRE)--Feb. 9, 2000--
Dear Shareholder:
You may be aware that MegaWorld (Pink Sheets:MEGWE) is endeavoring to register with the Securities and Exchange Commission (SEC) to become a fully reporting company. When the SEC declares the registration effective, the Company will begin filing reports with the SEC, and all reports will be available to the public in the SEC's EDGAR archives. We look forward to publishing these reports, as it will enable us to keep our shareholders informed and to gain greater exposure to the investment community.
MegaWorld is now preparing its registration statement on Form 10-SB which will be filed with the SEC as soon as practicable. Form 10-SB is a general form required for the registration of securities of small business issuers under the Securities Exchange Act of 1934. Information required in the registration form includes a description of the business, discussion of the plan of operation, identification of the directors and executive officers, description of property and securities and financial statements.
Under the new OTC Bulletin Board Eligibility Rule, MegaWorld's shares will not be eligible for trading on the OTC Bulletin Board after Feb. 9, 2000 until MegaWorld's Form 10-SB has become effective and the SEC has no further comments with regard to the filing. The process requires MegaWorld to answer SEC comments before our common stock can resume trading on the OTC Bulletin Board. We will reply promptly to their comments and will continue to work closely with our advisors to facilitate the registration of our common stock.
We anticipate that our Form 10-SB will be completed and filed quickly and that MegaWorld common stock will again be eligible for trading on the OTC Bulletin Board following the SEC's customary period for review and comment. In the interim, our stock will be listed in the "Pink Sheets".
The Pink Sheets are operated by the National Quotation Bureau LLC (NQB) and are a static paper quotation medium printed weekly and distributed to broker/dealers. An electronic version of the Pink Sheets is updated once a day and disseminated over market data vendor terminals. The Pink Sheets are not owned or operated by The Nasdaq Stock Market Inc.
Please be assured that we intend to follow through with registration process, which will enable us to restore our shares for trading on the OTC Bulletin Board. We appreciate your continued support and confidence, and will continue to advise you on all aspects of the Company's progress.
Sincerely,
Charles D. McPhail
President & CEO
MegaWorld Inc.
NOTE: Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements invite risks and uncertainties, including without limitation, continued profitability of the company, increased levels of competition for the company, and other risks.
CONTACT: MegaWorld Inc., Houston
Ann Krueger, 713/462-6906
|
