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Biotech / Medical : SANGUINE CORP. (SGNC)
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To: Rusty who wrote (5361)8/28/2000 2:30:01 PM
From: E'Lane  Read Replies (1) of 5402
 
what is the dreaded "E"?

Eligibility Rule Phase-in Complete
The OTCBB Eligibility Rule Phase-in began on July 1, 1999 and is complete as of June 22, 2000. During the past year, the staff reviewed every company whose securities were quoted on the OTCBB for compliance with the new filing requirements.

5,601 issuers were reviewed
2,414 were eligible for continued quotation (43%)
3,187 were not eligible for continued quotation and were removed from the OTCBB (57%)
205 (as of 6/26/2000) of the 3,187 ineligible issuers subsequently met the Eligibility Rule requirements and are now quoted on the OTCBB again. (3.7%)
The Eligibility Rule protects investors by ensuring that they have access to companies’ current financial information when considering investments in OTCBB-eligible securities.

Nasdaq will continue to monitor the filing status of all OTCBB issuers. In the event of a filing delinquency, Nasdaq will append the trading symbol(s) of the delinquent issuer's security with an "E". The fifth character "E" will be removed from the symbol once Nasdaq receives notification that the security meets the requirements of the Eligibility Rule. After 30 days (60 days for non-SEC filers), if Nasdaq has not been notified that the appropriate filing has been made with the issuer's regulatory authority, the issuer's security will be removed from the OTCBB.

otcbb.com
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