Me Again! ;) ~~ Some applicable words from Marum company President--
As per Rick Boulay:
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Hello Jesse
Thanks for your note about the news release policy discussion on the MMU SI thread. I offer you the following which you can pass on or post providing you attribute the information as coming from me.
It is common practice to post-date a news release to the next day providing the release is only issued after market close. There is a good reason for doing this - if you post a news release after market with the current days date on it - the news will appear stale when most readers see it on the next market day.
Importantly, tomorrow morning, news services such as Stockwatch might look at the stale date and not run it or edit it severely. For instance, tonight at about 5 to 7 pm, on Wednesday, December 9th, Marum will issue a news release dated December 10th, 1998. We will email and fax it to our prime disclosure list consisting of stock exchanges, securities commissions, SEDAR, the U.S. SEC and news organizations. In this way we will have fulfilled our formal disclosure obligations before market opens tomorrow. Then we eblast the news to our internet list. This takes about 15 minutes since we use slow individual addressing so we won't bounce off anti-spam programs at certain ISPs. An addressee on our email list will receive our December 10th dated news release on the evening of December 9th, 1998. This is acceptable and common practice. The alternative is silly, inconvenient and unfair. It would mean rushing everything in the morning and virtually guaranteeing that the dissemination and disclosure services would not have it available to all market participants by the opening of the markets. Moreover, it would probably mean that the internet community would have a jump on others.
There also seems to be an issue about me commenting on investment threads via third parties. An IR person can do it directly since they are fed limited and filtered information from the source. For better or worse, I am the source since I personally direct the exploration programs. For me to post directly, or in any fashion except in response to direct questions or obvious issues raised by say, a thread participant, creates potential disclosure problems. At one time I posted directly but was advised by counsel to desist and have complied.
Nevertheless, I value the thread comments so much, even the negative ones which are a valuable part of the investment scene, that I believe the Marum constituency (shareholders, fans and detractors) all benefit from my occasional input. It's a skeptical world but I'll state clearly that we have never issued any information except on a fully attributed basis.
Tune in later for our news release.
Regards, Rick Boulay
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- Thanks, Rick -- Your willingness to address concerns and provide what information you can is very much appreciated!
-j
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