Regarding HISC, NNVC, and other affected companies.............
Cromwell Coulson is the President and Chairman of Pinksheets.com ( c/o info@pinksheets.com ) I wrote him the following email this afternoon, to see if we can effect a change in how these situations are handled and avoid the blatant manipulation.
Please cut-&-paste (..and edit, if need be..) the content into an email and back me up:
***********************************************************************
Mr. Cromwell Coulson
President
Pinksheets.com
NYC , NY
Dear Mr. Cromwell,
I would like to request that you please make a small, but constructive, adjustment to the methodology used to handle "..quote blocking.." on Pinksheets.com for companies that you feel are tardy in their financial reporting.
With the talented people you have working on your website, it would seem relatively easy to put an Interim Notification just above the Quotes two days prior to actually blocking the data. All it would have to say is, "..This company's quotes will be blocked as of (day/month) due to financial reporting non-compliance..".
This would serve several useful purposes. (1) It would provide the investors with an opportunity to call the company and pester them about their compliance in advance of data blocking. (2) It would avoid having Day Traders and other scurrilous manipulators profit greatly at the expense of the private investors, as the Loss of Data would not come as a blatant surprise in the Marketplace. (3) It would make use of the free labor of the private investors to accomplish Pinksheet's purpose of enforcing compliance, (4) It would create good will between Pinksheets.com and the private investing public. And, (5) it would avoid lots of phone calls by private investors who are either less sophisticated than yourself, confused, or perhaps disgruntled.
With such a two-step process, everybody you are truly concerned about protecting from less-than-responsible or occasionally forgetful companies would be beneficially served. There would be no surprises, stock price manipulation would be suppressed, and the companies would become more timely in their reporting - without everyone getting upset.
I truly believe this is a very reasonable request from the private and/or small investors point of view, since many of them are learning about the Market from Pinksheets investing because these stocks are less expensive to accumulate in quantity.
Thank you for hopefully implementing this change at your firm's earliest convenience.
We also thank you for your concern and efforts to make the Pinksheets Marketplace a more level and better managed playing field.
Respectfully,
Snidely Whiplash (..or whatever you feel is appropriate..)
. |
