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Microcap & Penny Stocks : ProNetLink..(PNLK)
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To: Jester who wrote (6731)6/8/1998 9:07:00 PM
From: Ice Cube  Read Replies (1) of 8242
 
The "financials" they released was a simple balance sheet. The REAL financials will be in the form 10, which they need to file in order to be a fully reporting company. The form 10 is a full disclosure document, where all issues concerning the company will be disclosed. Without the form 10, you really don't know what you are buying. That is why the SEC is moving toward delisting any company that does not become fully reporting. By delisting, I mean they will be kicked off the BB and will then trade on the Pink Sheets. You will also know at that time how the company was financed (504, convert, preffered, etc.) and at what prices. So, you really did not see the financials, you saw a very stripped down version of what the street looks for.
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