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To: ChrisJP who wrote (131557)4/21/2004 11:26:45 AM
From: Jim Bishop  Read Replies (1) | Respond to of 150070
 
It was July 1998 Chris, and they came back pink and stayed pink for a couple years while the SEC commented ALEX 15C2-11 filing to death....MYNG became the third company in history to come back from an SEC suspension, go pink, then make it back to the BB....MYNG's CEO winning in court against the SEC had a lot to do with that.

By the way, I believe that as of today, MYNG is the only one to accomplish the above, that is still trading OTC....the second company to make it back was ECNC and now Tom Hughes is in jail, and I don't even know if ECNC still exists....I forget what the first company was, but they got back to OTC due to SEC error if I remember correctly.



To: ChrisJP who wrote (131557)4/21/2004 11:28:09 AM
From: Jim Bishop  Respond to of 150070
 
MYNG I picked some up the other day at .15 for a position trade based on an impact date.

The impact is, they have LOI for a mill, 30 days for the dd.

If the deal goes through, they get a mill for stock, might take many months or a year to move it to Bolivia and get it running but that's beside the point.... the impact is that once the deal is done, they can book over $4 million for it as an asset. That puts them well over the minimum shareholder equity base to qualify for Amex listing under guide 3....that's the impact.

biz.yahoo.com

"The company expects that it will take approximately 30 days to complete its due diligence and close the acquisition. Once Golden Eagle has completed the Gold Bar acquisition, it will book those assets at the purchase price, which will give the company close to $6 million in net equity. With this higher net equity figure, the company believes that it may qualify for a potential listing on other national exchanges. This is an opportunity that the company intends to pursue aggressively in the near term.



To: ChrisJP who wrote (131557)4/21/2004 11:32:28 AM
From: Jim Bishop  Read Replies (1) | Respond to of 150070
 
Chris it's just the way it is. After an SEC suspension, the stock automatically comes back pink until such time as a market maker is willing to take on the responsibility of filing form 15C2-11. Once that is approved it trades dual listing, pink and OTC for 30 days...after 30 days other MM's can "piggyback" onto it OTC.

If it's a real company and mm's have lots of confidence in trading it, then I believe other MM's can also file 15C2-11's and speed the process up...I think.



To: ChrisJP who wrote (131557)4/21/2004 12:50:24 PM
From: StocksDATsoar  Read Replies (2) | Respond to of 150070
 
didn't the SEC halt MYNG a while back like in 1999 or so ?

yep, and check this out..during the halt i was long 2million shares and sweating it real hard..it was halted (i believe) @ 25c and opened at over $1.00...Jim Bishop remembers, right Jimmy? i think i average 45c on the whole thing, not sure..99 :-(