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Microcap & Penny Stocks : Green Oasis Environmental, Inc. (GRNO) -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (11706)	7/10/2001 7:49:01 PM
From: Hawkmoon	Read Replies (1) \| Respond to of 13091

There appears to be a difference of opinion about the significance of Section 12 and 15(d). I'll post the links here for those with more legal knowledge to help us analyze. But it has been my understanding that Section 12 means these companies are reporting firms, hence the mass of delisting that took place in the BB stocks over the past years. But don't get me wrong. I would be overjoyed if I were incorrect and that there is nothing preventing us from reachieving BB status while BC is still running the show. law.uc.edu And, I believe, the following is the appropriate paragraph referencing Section 15(d): law.uc.edu Each issuer which has filed a registration statement containing an undertaking which is or becomes operative under this subsection as in effect prior to the date of enactment of the Securities Acts Amendments of 1964, and each issuer which shall after such date file a registration statement which has become effective pursuant to the Securities Act of 1933, as amended, shall file with the Commission, in accordance with such rules and regulations as the Commission may prescribe as necessary or appropriate in the public interest or for the protection of investors, such supplementary and periodic information, documents, and reports as may be required pursuant to section 13 of this title in respect of a security registered pursuant to section 12 of this title. The duty to file under this subsection shall be automatically suspended if and so long as any issue of securities of such issuer is registered pursuant to section 12 of this title. The duty to file under this subsection shall also be automatically suspended as to any fiscal year, other than the fiscal year within which such registration statement became effective, if, at the beginning of such fiscal year, the securities of each class to which the registration statement relates are held of record by less than three hundred persons. For the purposes of this subsection, the term "class" shall be construed to include all securities of an issuer which are of substantially similar character and the holders of which enjoy substantially similar rights and privileges. The Commission may, for the purpose of this subsection, define by rules and regulations the term "held of record" as it deems necessary or appropriate in the public interest or for the protection of investors in order to prevent circumvention of the provisions of this subsection. Nothing in this subsection shall apply to securities issued by a foreign government or political subdivision thereof.