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Microcap & Penny Stocks : MDMI - Italian Bakery Extraordinaire! -- Ignore unavailable to you. Want to Upgrade?

To: DuGen who wrote (3339)	8/6/1999 6:45:00 AM
From: TraderGreg	Read Replies (2) \| Respond to of 3584

Well DG, I got a partial answer to this question about what constitutes "delinquency" in filing...the hard way, the "California" way...I "experienced" it. BANY is required to be in full compliance on September 1, 1999(those stocks starting with symbols AP to BI). Get this, the NASD assigns the fifth letter "E" to those companies a full month before this deadline date. So, BANY is trading now as BANYE. One more thing...the partial answer to our question as to what constitutes delinquency. BANY filed its Form 10 on... MAY 14, 1999...OVER 2 1/2 months ago! This leads me to think that they have to be officially blessed by the SEC to satisfy the requirement and that simply filing the 10 on time isn't enough. Now, the E may be some temporary flag to warn people that all AP-BI companies will be pinked if they do not file by 9/1/99. Hard to say as most of the companies thus far required to become filers have not. I'll keep you informed as I learn more. TG

To: DuGen who wrote (3339)	8/6/1999 6:57:00 AM
From: TraderGreg	Respond to of 3584

The final piece of the puzzle, found at the official BB site: otcbb.com The frequently asked question and answer section: Q4 Is an issue eligible for quotation on the OTCBB once the company's Form 10 or Form 10SB is effective (which by rule occurs after 60 days)? A4 No. As far as the eligibility requirements for quotation on the OTCBB, the operative date is not the effective date, but the date the SEC staff comes to a position of no further comment as it relates to the Form 10 or Form 10SB. Which means if our dedicated government employees want to take six months to get to that "no further comment" position, then that stock stays pinker than Marx and Lenin. TG