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Technology Stocks : EDTA (was GIFT)
EDTA 0.000200+300.1%Mar 7 3:00 PM EST
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To: BILL JAMES who wrote (461)6/30/1996 9:01:00 PM
From: cc rogers   of 2383
 
Bill: You are partially correct. Any public company, and GIFT is one obviously, can be recommended by a broker...depending on his own company's rules and regs and your own credit and status with his firm. The mere fact that they are on the pink sheets means they are blue skied somewhere.
Now. Someone may sell you a piece of "blue sky" or The Brooklyn Bridge or swampland in FLA. So passing muster in each state (and some merely reciprocate with others) is the criteria for whether that issue may be sold in THAT state. This includes review of certified audits.
Being listed on any of the big boards has much different requirements: minimum capitalization in millions of $ (can't remember how many M's), strike price of $1 or more for a continued period of (I think) one month for NASDAQ...which is why I wonder if the big PR exercise at this time is to adddress this issue. There are just a few other minor points I can no longer recall. (I helped take two small oil companies public back in the wild early 80's).
Every...no exceptions and no excuses...publicly listed company must be audited with a yearly 10K and quarterly 10Q certified reports filed with the SEC. So GIFT is waiting on WHAT audit??? I understood that it had been a penny stock for some time as E-DATA.
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