HEARTLAND WIRELESS COMMUNICATIONS INC (HART) Message Board

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Microcap & Penny Stocks : HEARTLAND WIRELESS COMMUNICATIONS INC (HART)

HART 1.790

+8.5%

Mar 31 5:00 PM EST

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To: David Sirk who wrote (134)	4/3/1999 7:09:00 PM
From: RCJIII	Read Replies (1) of 178

David, you are wrong. It is not the market makers responsibility it is the company's responsibility to inform the investing community of the transition details. The company should have issued a clear press release indicating exactly when the stock was to be cancelled. They then should have 1) halted the stock to prevent trading after cancellation or 2) allowed trading once the PR was out so at least new buyers would know what they were buying, the old and not the new. The only way the MMs are to blame is if the company notified them that the shares would cancel as of 3/31 and they traded them the next day anyway. I find this to be inconceivable considering how many MMs are trading in the stock. What I think happened, and this is just speculation is that the company either 1)forgot to tell the MMs what was happening, which is pure negligence or 2) they forgot to tell the public that the shares wouldn't be cancelled until close of business 4/1, not 3/31, which is also negligence. Any way you slice it, the company is to blame and will pay. RCJIII

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