To: Mark White re. News Dissemination of Easdaq trading halt
Dear Mark,
The lack of response from Turbodyne in the face of seemingly dramatic
action by the EASDAQ is dismaying.
We have heard from the company that the issue concerns strategies
regarding the release of news, that the Nasdaq was satisfied with
documentation substantiating previous releases, and that the company
was recently recontacted by the EASDAQ to supply more material regarding similar issues.
The American investor, however, only knows by the Nasdaq's code that
the trading halt has something to do with a regulatory violation. Whether or not Peter K. asked that trading be halted to protect German
and/or American investors on Thursday is lost in the vacuum.
H.11 [Halt‹Regulatory Suspension/Cease Trade Order] company symbol,
name, date/time. Trading is halted by the NASD due to a regulatory violation.
Turbodyne needs to do more than state that news is pending as I've
heard they intend to do.
If there is a reciprocal relationship between the Nasdaq and the
Easdaq re. trading halts, how do you expect to be able to have trading
resumed on your timetable without the Easdaq's cooperation? A ten day
trading halt would really spook investors.
My confidence in the workings of the Easdaq is quite weak. News of
the trading halt was given to Bloomberg yesterday shortly after
American markets closed, but wasn't posted on their website until 13:00 hours Brussels time on Thursday. And how could the situation
have gotten to such a point of deterioration that a trading halt was called for?
Mark, would you please pass along this piece of information from one
concerned investor: schedule a conference call with replay and/or
Real Audio Internet access on Monday or as soon as can be practically
arranged.
Sincerely,
Mike C
BTW, I am glad that there is a short term halt, if in the interim, the
company can prepare it's long anticipated pending announcement(s). It
would not have been fair (to longterm investors) to let the shorts use
the Easdaq situation to cover. |
