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Microcap & Penny Stocks : Amazon Natural (AZNT)
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To: bmart who wrote (1215)8/24/1998 10:42:00 AM
From: Dixie7777  Read Replies (1) of 26163
 
I have a curiosity. If the company has cancelled the stock as you say, why does the SEC permit it to still be traded?

Exactly what legal mechanism permits these obviously conflicting activities to continue simultaneously?

Mr. Dixie,
The S.E.C doesn't regulate the trading of this stock, the NASD does and they are fully aware of the stock situation. When 4 million shares are issued to raise money at 4 per share and then sold, I think the company has every right to get those shares back, and they will & have taken the LEGAL measures to do so.

OK, Then if the NASD has the right to regulate the trading, why then does it permit a member firm to continue to make a market in a security that they, (the NASD,) know no longer exists in the open market?

Rich
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