The Securities and Exchange Commission announced the temporary suspension, pursuant
to Section 12(k) of the Securities Exchange Act of 1934 (the "Exchange Act"), of trading of
the securities of Pinnacle Business Management, Inc. ("PCBM"), of Clearwater, Florida at
9:30 a.m. on May 8, 2002, and terminating at 11:59 p.m. on May 21, 2002.
The Commission temporarily suspended trading in the securities of PCBM because
questions that have been raised regarding the accuracy of assertions made by PCBM, and
by others, in Commission filings and in documents sent to and statements made to
investors concerning among other things, a planned spin-off by PCBM of a subsidiary in
May 2002, the initial price at which the subsidiary will trade after the spin-off has been
completed, and the conditions bearing on the subsidiary's chances of achieving an
American Stock Exchange listing.
The Commission cautions broker dealers, shareholders, and prospective purchasers that
they should carefully consider the foregoing information along with all other currently
available information and any information subsequently issued by the company.
Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11
under the Exchange Act, at the termination of the trading suspension, no quotation may
be entered unless and until they have strictly complied with all of the provisions of the
rule. If any broker or dealer has any questions as to whether or not he has complied with
the rule, he should not enter any quotation but immediately contact the staff of the
Securities and Exchange Commission in Washington, D.C. If any broker or dealer is
uncertain as to what is required by Rule 15c2-11, he should refrain from entering
quotations relating to PCBM's securities until such time as he has familiarized himself with
the rule and is certain that all of its provisions have been met. If any broker or dealer
enters any quotation which is in violation of the rule, the Commission will consider the
need for prompt enforcement action.
sec.gov
... Mezz - It's about time!! |
