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Microcap & Penny Stocks : American International Industries Inc. OTC BB Symbol EDII
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To: jhild who wrote (4800)4/17/2000 5:23:00 PM
From: Samgee  Read Replies (1) of 4814
 
American International Industries, Inc. (EDII) filed its 10-SB with the SEC over a year ago meaning that, by SEC standards, EDII is a fully reporting company.
Sometime in 1999 the NASDAQ - which owns the OTCBB - requested that all companies must be reporting by certain dates or face de-listing from the OTCBB to the Pink Sheets.
American International Industries, Inc. was already a fully reporting company (you can find all financial information reported by EDII on EDGAR) when the NASDAQ came up with a new NASDAQ rule that all companies, even if fully reporting to the SEC such as American International Industries, Inc., must also "clear comment" by the SEC. Apparently, the NASDAQ wishes to go public sometime in the near future and is very concerned with the OTCBB being an exchange for public companies which are non-reporting, without assets or business and that attract investors through cheap stock promotions who eventually find out that they have been duped.
The clearing comments process is being done alphabetically by symbol and EDII lies in the first quarter of the list. The date to clear comment by the SEC for American International Industries, Inc. was November 3, 1999 (a very short period of time considering that EDII is the owner of eight subsidiaries in various divisions such as Industry, Real Estate, etc.).
We can assume that the clearing of comments process should be finished soon and it is my understanding that once a company does finish this process, it should begin to trade immediately on the OTCBB again. (Such has been the case for other similar companies).
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