Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : NCDR -- Ignore unavailable to you. Want to Upgrade?

To: Mark Marcellus who wrote (830)	6/13/1999 10:41:00 AM
From: afrayem onigwecher	Read Replies (3) \| Respond to of 1440

SECURITIES AND EXCHANGE COMMISSION Washington, D.C. SECURITIES EXCHANGE ACT OF 1934 RELEASE NO. 41517 / June 11, 1999 The Securities and Exchange Commission announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the "Exchange Act"), of over-the-counter trading of the securities of Net Command Tech, Inc. ("NCT"), of New York, New York, at 9:30 a.m. EDT, on June 11, 1999, and terminating at 11:59 p.m. EDT on June 24, 1999. The Commission temporarily suspended trading in the securities of NCT because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning, among other things, the purported acquisition by NCT of certain companies' assets and stock and the value of those assets and stock, a $1.5 million line of credit purportedly secured by NCT from a European bank, the revenue generated by an American company purportedly acquired by NCT, and the business success and reputation of NCT's CEO and president. The Commission cautions broker dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company. Further, brokers and dealers should be alert to the fact that, pursuant to Rule 15c2-11 under the Exchange Act, at the termination of the trading suspension, no quotation may be entered unless and until they have strictly complied with all of the provisions of the rule. If any broker or dealer has any questions as to whether or not he has complied with the rule, he should not enter any quotation but immediately contact the staff of the Securities and Exchange Commission in Washington, D.C. If any broker or dealer is uncertain as to what is required by Rule 15c2-11, he should refrain from entering quotations relating to NCT's securities until such time as he has familiarized himself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action. My understanding of the above paragraph is that market makers can't make a market for the stock unless they have reasonable assurance that the company's financials reflect the current situation concerning the stock in question. Accordingly there has to be a new filing. If one market maker files under 15c2-11 and their application is accepted by NASD then others can currently piggy-back on their application a month later. However, this often a tough hurdle for a halted company to achieve. However, recently, a number of stocks (for example IBUY ) appear to have traded post-halt without the benefit of market makers. I believe they are trading through Instinet, ECNs and/or internal brokerage matching of retail customer buy and sell orders without benefit of market makers. Unfortunately this often leads to a very volatile market due to the often large 'spreads' between customers' bid and ask prices. For example the price range of IBUY the first day was $7.00 to $25.00 on only 49.000 shares traded. Further details on IBUY trading soon after the end of the trading suspension can be found in: SHOPPING.COM SHS CASH SETTLEMENT AT Prices Available: 11/25/97 through 04/23/99 Ticker: IBUY Date __ Volume High/Ask Low/Bid Close -------- ---------- ---------- ---------- ---------- 03/23/98 - 300,600 - 28 1/2 - 22 -22 1/4 temporary suspension Date- - Volume - High - Low - - Close 04/07/98 - 49,100 - 25 - 7 - 18 04/08/98 - 37,300 - 22 - 18 - 21 04/09/98 - 14,200 - 22 - 18 - 19 3/4 04/13/98 - 15,500 - 21 - 17 - 21 04/14/98 - 43,200 - 22 1/2 - 18 - 21 5/8 04/15/98 - 19,600 - 23 - 20 - 22 1/2 04/16/98 - 45,300 - 26 - 19 - 21 3/4 04/17/98 - 46,000 - 25 - 21 - 21 04/20/98 - 30,000 - 24 - 21 - 22 1/2 04/21/98 - 15,900 - 24 - 21 - 21 1/2 04/22/98 - 8,200 - 24 - 20 - 22 7/8 04/23/98 - 8,100 - 25 - 17 - 22