Leah Industries, Inc. (OTC-BB-LEAH) Message Board

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Microcap & Penny Stocks : Leah Industries, Inc. (OTC-BB-LEAH)

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To: Robert Tarics who wrote (1769)	3/24/1999 7:53:00 PM
From: Alastair McIntosh	Read Replies (2) of 2153

Robert, don't count on it. If LEAH is to resume trading on the 26th a market maker would have had to have filed a 15c2-11 already. This form has to be submitted to the OTC compliance department of the NASD three business days before the resumption of trading. I can't see how a MM could risk signing off on a 15c2-11 without audited financial statements. Rule 15c2-11 contains requirements that are intended to deter broker-dealers from initiating or resuming quotations for covered OTC securities that may facilitate a fraudulent or manipulative scheme. The Rule currently prohibits a broker-dealer from publishing (or submitting for publication) a quotation for a covered OTC security in a quotation medium unless it has obtained and reviewed current information about the issuer. The broker-dealer must also have a reasonable basis for believing that the issuer information, when considered along with any supplemental information, is accurate and is from a reliable source. It may be some considerable time before LEAH trades again. Al p.s. - No position in LEAH long or short - just interested in SEC temporary trading halts and how they play out.

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