Don,
I'd like to understand your logic.
Here are the facts as I understand them:
1. The OTCBB has minimal reporting requirements as compared to the NASDAQ.
2. LUMME has not met even these minimal requirements.
3. LUMME is scheduled for delisting on January 20.
4. LUMME will be on the dreaded pink sheets unless they get their stuff together.
otcbb.com
The OTC Bulletin Board© Eligibility Rule implementation continues with the
January 20, 2000 Phase-In Group. The status of this group of companies, whose
trading symbols (as of January 4, 1999) begin with "KB" through "MD", will be
evaluated as of the close of business on January 19, 2000. Securities of OTC
Bulletin Board (OTCBB) companies that do not meet the Eligibility Rule
requirements at that time will no longer be eligible for quotation on the OTCBB.
See the chart below for a complete list of OTCBB issues in the January
20, 2000 Phase-In Group and each security's compliance status as of
December 20, 1999.
An initial evaluation was conducted on December 20th for the aforementioned
companies in order to assist Market Makers in fulfilling their responsibility to
provide evidence of compliance to the National Association of Securities
Dealers, Inc. (NASD©). The trading symbols of those securities whose issuers
were not deemed compliant with the Rule will be appended with an "E". Notice of
these symbol changes was published on the December 20, 1999 Daily List.
Once the NASD receives notification that an issuer complies with the filing
requirement, the fifth character identifier "E" will be removed. If the issuer is not
compliant with the filing requirement and/or the NASD has not received
notification to this effect, on or before January 19th, the issuer's securities will no
longer be eligible for quotation on the OTCBB as of market open on January
20th. Deletions will appear on the Daily List of January 14th (available on this
Web site) and their removal will be effective at market-open on Thursday,
January 20th.
5. LUMME is supposedly applying for NASDAQ listing.
6. Delisting is likely to happen before any NASDAQ approval.
7. Being delisted from the OTCBB cannot help NASDAQ listing.
8. If LUMME cannot meet OTCBBB requirements, what evidence is there that they will meet far more stringent NASDAQ requirements?
You obviously feel that these facts are incorrect. Could you point out where I'm in error?
Thanks. |
