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Microcap & Penny Stocks : AIRP -- Ignore unavailable to you. Want to Upgrade?

To: Gus the Dog who wrote (385)	6/2/1998 5:02:00 PM
From: Rich Kaiser	Read Replies (1) \| Respond to of 487

Hi Gus, Nice to have you on the AIRP Thread. Yes, the company has a duality of markets. In 1994, I looked at options in bring AIRP fully listing on the US exchanges. But, the Vancouver venture firm didn't like the section 16 rule of the SEC. So, we did a 15c-211 filing which enable US market makers to make positions in the stock. This gave US retail brokers a live quote which they wouldn't get if we purely list on VSE. Up until this past Dec., the primary exchange, VSE, provide a valuable way of keeping the spread fair for people who bought on the OTCBB. The US market makers would have to buy off the VSE to fill orders here in the states. If the market maker made a spread which was counterproductive to the VSE position he/she could loss business from the US-Canadian dollar difference. Additionally, if the US market makers became to high between bid-ask price, I would call them and inform that all buying from my clients would be directed to buy off the VSE. In short, when you buy V.APT on the VSE you in fact do the same job as a US market maker and save on you price and commissions. In Dec, the major shareholder, Farrell Financial fell on hard times from misappropriating money in a mining venture. The company needed to recoup about 3 million Cnd$ before the end of 1997. They started to dump large position of V.APT and brought the price down to .10cnd before the VSE put sanctions on Farrell. If AIR PACKAGING TECH. was on the US exchange only, the Venture firm could never sell 8.5 million shares without prior authorization from the SEC. We as a company would have known prior to the sale, than after the fact, in this case. And we as a company(shareholders) would have voted on the best corse of direction for the major shareholders problem. AIRP's management ,including myself, had no-idea why the market came apart until the end of Feb 1998. You have to understand that insiders on the Canadian Exchanges don't have to file trading reports until after 30-days from the sale...This doesn't exist in the US and would be viewed as illegal trading practices. I hope this give you a clear picture why the stock price isn't reflecting corporate status. We continue to look into being on only one exchange but we need to remember that this is a US company, charter under US laws, with US employees and reports under US GAAP principles but we trade on the VSE.... As we grow thing will change... Thanks for the Great Question.. With Best Regards, Rich AIRP