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Microcap & Penny Stocks : ProNetLink..(PNLK)
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To: Dixie7777 who wrote (1552)4/30/1998 4:32:00 PM
From: Ice Cube  Read Replies (3) of 8242
 
Blue Sky is that the State's Securities Division has approved the security to be solicited in that particular state. Almost any security can get Blue skyed, it's just a neat little way for the states to collect another fee. I do believe that by getting a Moody's or S&P rating, you automatically get Blue Skyed in around 32 states, but I'm a little vague on the exact #'s. The ratings cost around 5k, so most companies do that as a first step because it's cheap, and quick. Most newly traded issues need to do these steps to get maximum exposure. Once this is done, brokers in the effected state can solicite the stock to their clients.
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