Oh yoohoo, PCM:
I set up a little "canary trap," and the PABN tout flies right in.
What was the point of this little exercise?
You kept on repeating that the 504 shares are restricted:
This is a lie.
I deliberately use the link to the html document concerning the Rulemaking.
You come back in your own special way with the link to the final Rule.
sec.gov
Very good.
Now did you read it? Perhaps you already knew the contents.
If its the latter, I've nailed you in your lies again.
Lets go back to that link:
EFFECTIVE DATE: [insert date 30 days after publication in the Federal Register].
Now look at this:
[Federal Register: March 8, 1999 (Volume 64, Number 44)]
[Rules and Regulations]
[Page 11089-11094]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr08mr99-18]
....
17 CFR Part 230, et al.
Revision of Rule 504 of Regulation D, the ''Seed Capital'' Exemption;
Rule 701--Exempt Offerings Pursuant to Compensatory Arrangements;
Registration of Securities on Form S-8; Final Rules
frwebgate.access.gpo.gov
30 Days after publication in the Federal Register makes the effective date of the Rule April 7, 1999.
Now when was the Form D received at the SEC: March 23, 1999.
geocities.com
Got in just under the wire, eh.
Now, since the subject is PABN, I believe I was perfectly justified in exposing you (yet again) for what you are - and in the process, informing the lurkers that the share sale was unrestricted.
An apology to those who read this thread is in order.
Now, if you wish I will apologize to the thread for posting that link twice provided you apologize for the 5, 10 or goodness knows how many times you posted that the shares were restricted when - to use the legal phraseology you knew, or should have known what you were posting was false.
Deal?
ww
Oh, BTW you did read this, didn't you?
...In some cases, Rule 504 has been used in fraudulent schemes to make prearranged "sales" of securities under the rule to nominees in states that do not have registration or prospectus delivery requirements. As a part of this arrangement, these securities are then placed with broker-dealers who use cold-calling techniques to sell the securities at ever-increasing prices to unknowing investors. When their inventory of shares is exhausted, these firms permit the artificial market demand created to collapse, and investors lose much, if not all, of their investment. This scheme is sometimes colloquially referred to as "pump and dump."...
sec.gov
Methinks what the Commission was referring to as "pump and dump" was best illustrated by your summary of the historical volume and prices prior to and after the sale of the Form D shares. #reply-10462563 |
