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Microcap & Penny Stocks : Rocky Mountain Int'l (OTC:RMIL former OTC:OVIS)
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To: Ellen who wrote (25433)12/9/1997 11:45:00 PM
From: michael d kugler  Read Replies (2) of 55532
 
These could be some welcome changes to the way BB companies behave, and their stocks are traded.

Previously, the marketmakers needed to file only one 15C2-11, when they first became a marketmaker. But they could use the same old form to continue, even if the company hadn't reported lately.

The new rules appear to place the burden of timely and accurate financials squarely on the back of the marketmaker. But most companies, if they want to retain any liquidity for their stock, will be forced to issue timely financials.

And even if the vote was for adoption on Thursday, it will take some time to implement.

And while not saying you should be selling any BB stock, it would appear that companies in non-compliance could give their investors severe liquidity problems, if only a few will risk making a market (read: mile wide spreads).

This announcement represents ample warning to investors in potentially affected issues.
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