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Microcap & Penny Stocks : TSIS: WHAT IS GOING ON? -- Ignore unavailable to you. Want to Upgrade?

To: kenneth shopsin who wrote (592)	1/8/1998 12:02:00 PM
From: Michael T Currie	Read Replies (2) \| Respond to of 6931

> What is BB stock? This could get to be a pretty long and involved explanation and I am leaving work, but the short answer is a public company that is traded via an electronic bulletin board (hence the term BB) and which is administered by NASDAQ. NASDAQ also makes it very clear that OTC:BB stocks are NOT 'NASDAQ-listed'. They do not (yet) have the same reporting requirements as listed stocks (quarterlies, for example), but there is nothing that prevents a BB company from reporting voluntarily to the SEC. Because of the lack of these requirements, BB stocks are much more easily manipulated, either by insiders or by market makers. This is NOT to say that all BB stocks are scams, simply that your risk is increased. The most difficult requirement in gaining a market listing for penny stocks (often synonymous with BB companies) is usually share price, which NASDAQ for example presently requires a price of over $4/share for 10 consecutive days. Minimum assets ($2MM?) and a certain number of shareholders (250?) are also required. Somebody please correct these figures if they are wrong. There is also a NASDAQ web site at, I think, www.nasdaq.com - can't check it now. Keep in mind that some companies will never want a listing for the reasons above. Hope this helps. Mike