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Technology Stocks : shopping.com (IBUY)
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To: Arcane Lore who wrote (186)12/15/1998 10:37:00 AM
From: afrayem onigwecher  Read Replies (1) of 435
 
Du you think that the common share holders and/or the CO.
has a law suite against Cowen and/or Gross for executing an
iligal trades...........?????

To: Arcane Lore (154 )
From: Arcane Lore Wednesday, Dec 9 1998 9:24PM ET
Reply # of 221

Recent Form 144 filings for IBUY from Federal Filings Newswire:

Marlia Goodstein: 1,200 shares 12/07/98
Idealab! 50,000 shares 12/07/98
Idealab! 12,000 shares 12/04/97
Idealab! 35,000 shares 12/07/98
Mechie Nebenzahl 13,295 shares 11/30/98

Note that Idealab (Bill Gross' Idealab!) has filed to sell 97,000 shares, an amount that exceeds 1% of IBUY outstanding shares. Since I presume they can and did get good securities law advice, it seems clear that the volume rule does apply to OTCBB stocks.
To: afrayem onigwecher (185 )
From: Arcane Lore Friday, Dec 11 1998 9:07PM ET
Reply # of 221

I have discovered to my chagrin that you are indeed correct.

Here is the relevant text from an SEC web page:

Rule 144(e)

The NASD's Electronic Bulletin Board is not an "automated quotation
system" referred to in Rule 144(e). As a consequence, the
market-based volume limitation the rule allows for securities listed
on an exchange or quoted on NASDAQ is unavailable for securities
quoted only over the Bulletin Board.

edgar.sec.gov

(a list of publicly available telephone interpretations from the SEC Division of Corporate Finance)

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