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To: Crossy who wrote (1160)	1/26/2003 9:21:32 PM
From: Patentlawmeister	Respond to of 23958

From the BBX Website: "What is the BBX? The BBXSM will be a new listed market for small companies that will eventually replace the OTC Bulletin Board (OTCBB). BBX companies will have to meet many of the corporate governance requirements required of NASDAQ-listed companies, but there will be no financial requirements for listing. That is, BBX companies will not have to meet minimum share price, market capitalization, or shareholder equity requirements. The higher listing standards, a fully automated execution system, and improved marketplace supervision will improve the transparency and efficiency of the market, and offer better investor protection and a better opportunity for small companies to raise equity finance. When is the BBX expected to launch? The BBX is scheduled to launch in the fourth quarter of 2003, pending approval by the Securities and Exchange Commission (SEC). What will happen to the OTCBB? The current OTCBB will eventually be replaced by the BBX. To ensure a smooth transition to a listed-market environment, the OTCBB will operate simultaneously with the BBX for six months. This period is designed to provide sufficient time to submit and process applications for the BBX, without a halt in OTCBB quoting. Once a company begins trading on the BBX, however, simultaneous quotation on the OTCBB and BBX will not be permitted. At the end of the six-month parallel period, the OTCBB will cease operation. What will happen to OTCBB securities that are not listed on the BBX? OTCBB securities that do not transition to the BBX or another listed market may continue to be quoted on the OTCBB for six months after the launch of the BBX. Once the OTCBB ceases operation, market participants may choose to move their positions in those securities to another over–the-counter service. How can I learn more about the BBX? To speak with staff regarding the BBX or to request more information, call (877) BBX-1001. If you would like to be updated with the latest BBX developments via email, please sign up to be on the BBX mailing list by sending an email to bbxinfo@bbxchange.com. During the Summer and Fall of 2002, BBX staff held issuer education forums throughout the country to discuss the listing qualifications, application process, and BBX marketplace rules. If you did not get a chance to attend a forum and would like us to schedule one in your area, please contact us. If there is enough interest, we would be happy to visit additional cities or revisit major cities. The Application Process How does a company list on the BBX? In order to be listed on the BBX, all issuers, including OTCBB issuers, will be required to submit a listing application. Once this application is approved, the issuer will enter into a listing agreement with the BBX. Will issuers be required to go through a market maker to list on the BBX? Will market makers file Form 15C-211 on behalf of BBX issuers? No, issuers will not be required to go through a market maker to list on the BBX. Each issuer will apply for listing directly to the BBX. Market makers will not submit Forms 15c2-11 for trading securities on the BBX. Since market makers will continue to quote in BBX securities, issuers will be required to have at least one market maker agree to maintain a quote in its security once it is listed on the BBX. "