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Microcap & Penny Stocks : ABFG - AMERICAN BENEFITS GROUP, INC. -- Ignore unavailable to you. Want to Upgrade?

To: The Other Analyst who wrote (4030)	6/23/1999 11:34:00 AM
From: Henry Volquardsen	Read Replies (1) \| Respond to of 4128

I've wondered about that as well. Theoretically the OTC:BB provides a place where small developing companies can float equity and access capital without the significant costs of meeting all the reporting requirements needed for a more formal exchange. As a libertarian I find this very appealing. The problem is that this particular medium has been abused by the flim flam men. It has now become, imo, more an issue of public safety. What this regulatory function does is impose a licensing cost on companies. Instead of a license fee they pay accounting and reporting costs. But the effect is the same, they incur an additional expense to prove they are legit. In a practical sense it is no different than licensing fees in other professions. We do lose something by this and it adds cost but we, as a society, impose these costs all the time in the interest of public safety.