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Microcap & Penny Stocks : NETZ - gets deal with DEC! future 100 bagger? -- Ignore unavailable to you. Want to Upgrade?

To: papa bear who wrote (1387)	12/17/1997 5:07:00 PM
From: DGMAC	Respond to of 1702

Hi Ron, please refer to my post #1303 on this thread. The information that I presented is based on research, and the way the NASDAQ Small-Cap rule change was imposed. I have not seen any difined date though. Also, I received the following email from Michael Robinson with the NASDR indicating that they were close to ready with respect to presented the proposed rules to the public. Subject: RE: Micro Cap Stocks Date: Wed, 17 Dec 1997 08:46:24 -0500 From: "Robinson, Michael" <RobinsoM@nasd.com> To:"'dgmac@pacbell.net'" <dgmac@pacbell.net> This issue will be offered for public comment soon. You will be able to access the information on our web site at www.nasdr.com under the Notice To Members column. Letter are welcome via e-mail or regular mail. The Notice will have a complete explanation of the issue. Thank you for your interest. Hopefully this helps put you on the correct trail. DGMAC

To: papa bear who wrote (1387)	12/17/1997 5:07:00 PM
From: Dusty Reed	Respond to of 1702

I'm not sure of the date of the last posting but this one was 12 Dec 97 (last Friday) NASD to Toughen Listing Standards for Micro-caps By Joanne Morrison WASHINGTON (Reuters) - The National Association of Securities Dealers wants to clean up its electronic trading system, where some 6,800 lower-priced stocks are traded, by throwing off companies that do not provide information about their financial condition. "Our real concern is with companies that are not even willing to provide current public information to investors. We don't think that we should take the risk," said Richard Ketchum, NASD's chief operating officer. Under the proposal, which must now be approved by the U.S. Securities and Exchange Commission, any companies that wish to trade their shares on the so-called electronic bulletin board must file regular reports of their financial condition with federal regulators. The bulletin board gives electronic trading quotes on many securities, but the stocks are not technically listed on either the Nasdaq National Market or the Nasdaq's second-tier SmallCap Market. Under current rules, these stocks do not have to meet certain listing requirements or file financial reports with the SEC. These lower-priced stocks, known as micro-caps, have been a big concern for regulators and lawmakers, who fear investment scams are on the rise in this market segment. "There has been a dramatic increase in the number of micro-cap securities in the public market place," Frank Zarb, chairman of the NASD, said Friday. Currently, more than 6,800 securities are quoted on the bulletin board, of which only half report their financial information to the SEC. Under the new proposals, and after a phase-in period for existing bulletin board stocks, all companies that do not report to the SEC or banking and insurance regulators would be eliminated from the bulletin board. "These companies would be eligible to be quoted in other mediums, such as the pink sheets," the NASD said. Under the latest proposal, brokers would be required to take additional steps prior to recommending or conducting a transaction. Dealers in bulletin board stocks would be required to provide investors with a standard disclosure statement, emphasizing the difference between over-the-counter securities and other market-listed securities. "We think that greater disclosure has to be helpful in just simply alerting investors to the fact that there may be less information out there about these companies," Ketchum said. He said the NASD consulted with the SEC on the proposal and hopes the agency will act quickly on the matter. "Our hope is they will take action this winter." Ketchum said. Just in case any of you want to do more exploring go to YaHoo at search.main.yahoo.com and enter nasd in the block and scroll down to headlines. Happy Hunting. :) Dusty