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Microcap & Penny Stocks : PanAmerican BanCorp (PABN)
PABN 0.000010000.0%Mar 7 3:00 PM EST
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To: Fred C. Dobbs who wrote (39225)7/1/1999 2:56:00 PM
From: jhild  Read Replies (1) of 43774
 
Interesting story on Bloomberg. What if ABFGE wins? Maybe all of these companies will have to file immediately. Wouldn't that be a kick?

Washington, June 30 (Bloomberg) -- The National Association of Securities Dealers will remove 55 small companies from its Over-the-Counter Bulletin Board on Friday, as rules take effect requiring those companies to file public financial reports.

The association last year approved changes to require all companies on the OTC Bulletin Board to submit to disclosure and accounting requirements of the Securities and Exchange Commission. The change eventually could force as many as half of the 6,651 small companies off the bulletin board, as the eligibility requirements are phased in over the next year.
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One of the companies that expects to be knocked off the bulletin board, Deerfield Beach, Florida-based Internet retailer American Benefits Group Inc., today sued the NASD and the SEC, contending that the alphabetical schedule is unfair. A hearing is scheduled for tomorrow in a Manhattan federal court.
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http://www.ragingbull.com/mboard/boards.cgi?board=ABFG&read=14310

Thanks to Tom C. for posting that on SI.
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