PanAmerican BanCorp (PABN) Message Board

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Microcap & Penny Stocks : PanAmerican BanCorp (PABN)

PABN 0.00001000

0.0%

Nov 14 9:30 AM EST

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To: Howard C. who wrote (39353)	7/6/1999 4:06:00 PM
From: PCModem	Read Replies (1) of 43774

Hi Howard! Your "minimal" requirements are already in place. It is simply a matter of knowing how to access the information -- especially since it is not routinely published online. Any OTC stock must submit audited financials to the NASD in order to get approval to be quoted on the OTC quotation system. And those audited financials must be updated yearly -- which is EXACTLY the same as a reporting company. The difference is to whom the audited financials are submitted and what they do with them. For reporting companies it is to the SEC, and they review them carefully. For OTC companies the financials are kept on file by the sponsoring MM. A new rule requires any MM offering a quote to have the complete 15c2-11 Due Diligence (DD) package on file, with updated financials, which it reviews. This new rule is not yet in effect as far as I can tell [see sec.gov for a list of final rules], see sec.gov for the text of the proposed rule. And, as I said before, the company has to let any shareholder review the books. hope this helps PCM GO PABN!!!

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