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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: Buckey who wrote (142056)	2/14/2005 4:03:30 PM
From: Jim Bishop	Read Replies (2) \| Respond to of 150070

Dear Pink Sheet Issuer, I am writing you to explain a new policy for issuers of newly traded securities regarding the disclosure of adequate current information to the investing public. Your company's stock is quoted on the Pink Sheets on an unsolicited basis. This means that the NASD has not cleared a market maker to enter a quote in the security pursuant to SEC Rule 15c2-11. Instead, a broker is relying on an exemption to the rule in order to display a quotation representing an unsolicited customer order. This exception has been used to trade securities of new issuers without any disclosure to the investing public. To address this situation, Pink Sheets recently revised our policy for brokers entering unsolicited quotes in a new security that has never been listed on an exchange or quoted on the OTCBB. We now require that prior to publication of an unsolicited quote in the Pink Sheets for such securities, the broker must ascertain that the issuer has made adequate current information publicly available on www.pinksheets.com. The information disclosure policy has been very successful at creating transparency of the basic information that investors trading in public markets deserve. Pink Sheets is now extending the information disclosure policy to all securities quoted in the Pink Sheets on an unsolicited basis. However, because your company's stock was quoted on the Pink Sheets before this policy was adopted, you will be given a grace period to come into compliance. We ask that you make adequate current information regarding your company available to the investing public via the Pink Sheets News Service by February 15, 2005. After that date, if the required disclosure has not been made, Pink Sheets will remove the display of quotations in your stock from www.pinksheets.com until such time as the required information is made available to the public according to Pink Sheets guidelines (see below). We believe that Pink Sheets should not be used to make quotations for an issuer’s securities publicly available unless adequate current information is available to the public regarding the issuer and its securities. We will also be publishing a warning on www.pinksheets.com to investors advising them of the risks of investing in securities of issuers that have never made adequate current information available to the public. To make your company's information publicly available, you will need to subscribe to the Pink Sheets News Service. You can find information about this service and the Issuer Service Subscription Agreement online here: pinksheets.com. Pink Sheets has created a Guideline for Providing Adequate Current Information Pursuant to Rule 15c2-11 (available online at pinksheets.com to help issuers of OTC traded securities understand what information they are required to provide to the public. When Does an Issuer Need to Provide Adequate Current Financial Information to the Public? Pink Sheets believes adequate current information must be publicly available when an issuer's securities are traded in the OTC secondary markets under the following circumstances: At the time of initial quotation in public markets; At any time corporate insiders or other affiliates of the issuer are offering, buying or selling the issuer's securities in the OTC market; During any period that the issuer or affiliates of the issuer are directly or indirectly engaged in promotional activities having the effect of encouraging trading of the issuer's securities in the OTC market; or At the time securities initially sold in a private placement become freely tradeable in the OTC market. If any of the four above situations are occurring, issuers subject to Section 13 or 15(d) of the Securities Exchange Act of 1934 must be current in their reporting obligations to the SEC. If an issuer is not required to be SEC reporting, we provide the Pink Sheets News Service for those non-SEC reporting issuers to make their information publicly available. You are welcome to contact me with any questions regarding this notice. Sincerely, Liz Heese Issuer Services Pink Sheets, LLC 212-896-4426