Did Jimmy Gayle say they were going to become a fully reporting company. If so, when did he say it and when is it supposed to happen by. I believe according to the following they have until about July of the year or it's off to the pink sheets.
This is from NASD on Jan 6 1999:
<<NASD Announces SEC Approval of OTC Bulletin Board Eligibility Rule
Washington, D.C.—The National Association of Securities Dealers, Inc.
(NASD®), today announced that the Securities and Exchange Commission
(SEC) has approved the NASD's proposed OTC Bulletin Board Eligibility
Rule. This rule permits only those companies that report their current financial information to the SEC, banking, or insurance regulators to be quoted on the OTC Bulletin Board® (OTCBB), offering investors more and better information about OTCBB stocks...
The new requirement applies immediately to any company first quoted on the OTCBB after January 4, 1999. Securities already quoted on the OTCBB as of January 4, 1999, will have until at least July 1999 to comply with the new requirements. The rule will be phased in over a 12 month period beginning in July 1999 and continuing through June 2000 in alphabetical increments based upon the company's name as of January 4, 1999. In June 2000, the rule will apply to all companies on the OTCBB.
<<The filing requirement also means that these companies are subject to greater regulatory oversight by the SEC and other regulatory authorities.>> |
