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Microcap & Penny Stocks : ADSN - Advanced Systems International
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To: DRT who wrote (565)9/2/1999 5:12:00 PM
From: Crazy Canuck  Read Replies (2) of 895
 
Good Afternoon DRT,

Here is an email that the company sent out today. I believe it was sent to some of the investors who had called inquiring about the status of the re-listing saga.

Crazy Canuk

______________________________

We ARE in fact back on the OTC. One of the Market Makers pushed through the application. The three day process took almost three weeks. Our Form 10 SB was "cleared" by the SEC on Aug 10th, and the NASD on Aug 27. As of Aug 30, 1999, one market maker has been posting a bid/ask on the OTC. The reason you are not seeing quotes is because the OTC only posts the bid/ask when two or more market makers are posting a bid/ask on a stock. They call that "Inside Quotes" which is what the Internet quote services link into
to provide market data.

otcbb.com

What some of the other market makers are doing is waiting for the 30 day "piggy back" rule where if one market maker posts a bid/ask on the OTC for 30 consecutive days, the rest can come in and trade on the OTC as well without ever going through the filing process of the NASD (Its not us, its their company policy not to take the liability for any OTC stock).

Basically we will definitely be on the OTC at the end of the month based on the "piggy back" rule. I have been working with two more market makers (both good ones) that have applied to immediately trade ADSN on the OTC BB. As soon as one of them comes through with the NASD application process you should start to see full trading information posted on the Internet sites again. So it should not be too long now.
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