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Yes, the company needs to get themselves Blue Skyed in every state, so more people can be solicited by a broker (salesman) to buy the stock. It opens up a whole new group of investors. The "R" is set by each individual firm's compliance dept, but many of the large firms don't want their brokers into small caps, so they restrict their brokers from buying, even if it is blue skyed, but not all the firms.... many will be able to buy it. If any of you have a full service broker, ask them what internal rules they have for BB stocks. Many won't let the broker buy them at all, while just as many will. Some will have a price minimum or some other rule. It varies firm to firm. But all in all, you want maximum exposure for your stock, so they need to push for blue sky in ALL states, and to become fully reporting. |
