VLVT (was CSMA) Message Board

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Microcap & Penny Stocks : VLVT (was CSMA)

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To: Brian L. Hooks who wrote (8318)	7/23/1998 7:26:00 PM
From: Kurt N	Read Replies (2) of 11708

>>I just found out that the reason for the BUFF deal is because Coconino is not a proper 15c211 company and therefore cannot file a Form 10. .... The real story (truth) is that this is not a real company. I wonder if the stock is really any good???????? << Could you do the thread a favor, and get whoever is feeding you your info to get a free trial account and do the posting. The reason I am asking this is that there is no such thing as a '15c211' company. There is such a term 15c2-11 or 15c211. Before a Market Maker may initially enter a bid/ask for a security on the OTC-BB, the MM must be sure that the terms/rules of Rule 15c2-11 are fully complied with. If there is any doubt the MM may not enter a bid/ask. The MM fills out a Form 211 (containing the required information) which it submits to the NASD, and if approved the MM is in compliance. Currently after 30 days, other MM's if they didn't fill out the form and want to be a MM in that stock can piggy-back on top of the other registration. The company does not have to be in compliance with Rule 15c2-11, the Market Maker does. The company submits the necessary information to the Market Maker to fill out the form, which at present only has to be done on initial quotation (and after any trading halts) and never verified again. After 3 MM's are able to enter bid/ask's after being in compliance, the company is on the OTC-BB in good standing (presently). Only 2 MM's are required to remain. Pending rule changes may require each MM to do their own 15c211 and review annually that they are in compliance, at some point in the future. I'm willing to chalk it up to a misinterpration in terminology, but for these types of posts it is essential to be accurate. Kurt

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