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To: KLAW97 who wrote (151)	9/14/1998 11:54:00 PM
From: Jeffrey L. Henken	Respond to of 939

I think both these stocks will move off the OTC BB. Sometimes it's hard to remain patient when a stock has great potential but does not perform up to our expectations. CLCK was over $4 long enough that it might have happened already, but so far no dice. ALYA International is a fabulous company. The stock will reflect that in the not too distant future. As it starts to heat up with real earnings coming next quarter then we can look for that move. InvestRight Regards, Jeff

To: KLAW97 who wrote (151)	9/17/1998 6:33:00 PM
From: Jeffrey L. Henken	Respond to of 939

OTC Rule Proposals Submitted To SEC On July 17, 1998, the National Association of Securities Dealers, Inc. (NASDr) submitted to the Securities and Exchange Commission (SEC) a series of proposed rule changes for the OTC Bulletin Board (OTCBB) and the OTC market. (OTC securities are those not listed on Nasdaq or any registered national securities exchange.) These OTC securities are quoted in media where there are no listing requirements and oftentimes, no public information available. The proposals are intended to: 1) balance the benefits that the transparency of the OTCBB provides with the public need for information about the issuers being quoted; 2) ensure that Market Makers are fully informed about the securities they are recommending to customers; and 3) ensure that investors understand the differences between OTC and highly regulated markets, such as Nasdaq or the registered exchanges. OTC Bulletin Board Eligibility Rule This proposed rule change will ensure that current financial information about domestic companies that are quoted on the OTCBB is publicly available. Presently, NASD rules require issuers of foreign and American Depositary Receipts (ADRs) to file periodic reports with the SEC in order to be quoted on the OTCBB. The NASD is proposing to extend that requirement to domestic securities. If approved, the rule will permit only those domestic companies that report their current financial information to the SEC, banking, or insurance regulators to be quoted on the OTCBB. This requirement will be immediately effective upon approval by the SEC for securities not previously quoted on the OTCBB. Non-reporting companies whose securities are already quoted on the OTCBB will have between 6 and 18 months (depending on where they fall in a phase-in period) to comply with the new requirements once the rule becomes effective. If an issuer becomes delinquent in its reports, there will be a grace period of 30 - 60 days (depending on the type of issuer) during which Market Makers may continue to quote the security. Recommendation and Disclosure Rules These rules will require brokers to take additional steps before they recommend a transaction in any OTC security, and provide investors in all OTC transactions with increased disclosure. The Recommendation Rule will require brokerage firms to review current financial information about the issuer before they recommend a transaction in any OTC security to a customer. Additionally, firms must designate a qualified registered individual to review the information required by the rule. The Disclosure Rule will require brokerage firms to provide investors with written disclosure of the differences between OTC securities and those that trade on a highly regulated market such as Nasdaq or a registered national securities exchange. This disclosure will be made on each customer's confirmation following any trade in an OTC security. The proposed Recommendation and Disclosure rules would not apply to transactions in securities of banks and insurance companies, or companies with more than $100 million in assets and $10 million in shareholder's equity. Transactions with institutional investors will also be exempt. In December 1997, the NASD Board agreed on the importance of the reform proposals and sought public comment on them. During more than two months of public comment, the NASD received numerous comment letters, all of which were reviewed prior to developing these final revised proposals. You can view and print the entire proposal, as well as submit your comments to the SEC, once it is published in the Federal Register. otcbb.com I thought readers of the thread might be interested in these rule changes. It's one of the reasons I believe executives like those at ALYA and EVDS when they say they will be fully reporting before year end. InvestRight Regards, Jeff

To: KLAW97 who wrote (151)	9/17/1998 6:51:00 PM
From: Jeffrey L. Henken	Respond to of 939

NASD may kick out firms Up to 3,400 companies may be kicked off Nasdaq Bulletin Board, report says: December 9, 1997: 6:38 a.m. ET NEW YORK (CNNfn) - In a move to further clean up the image of the Nasdaq, the National Association of Securities Dealers is believed poised to kick out as many as 3,400 stocks that trade on the stock market's lowest tier. The NASD board is expected to tentatively approve a proposal to kick the companies off of the so-called "bulletin board" if they don't comply with securities regulators, the Wall Street Journal reported Tuesday. The OTC Bulletin Board is an electronic forum where brokers can get lists of market makers and trade roughly 6,800 securities. However, the stocks aren't listed on the Nasdaq market itself and companies aren't required to meet listing standards of the Nasdaq's National Market nor file financial statements with the Securities and Exchange Commission. Board members are also expected to discuss prohibiting brokerage firms from quoting price for OTC Bulletin Board stocks if the brokers don't have current, reliable financial information on the company. If the proposals are approved on Thursday, it will be put out for comment by members. Any of the companies that are no longer eligible may still be listed on the so-called "Pink Sheets" -- a less automated quotation system not affiliated with the Nasdaq. europe.cnnfn.com I guarantee you ALYA and EVDS will not end up on the Pink Sheets. NASDAQ? You bet. Pink Sheets, no way. InvestRight Regards, Jeff

To: KLAW97 who wrote (151)	9/18/1998 12:25:00 AM
From: Jeffrey L. Henken	Respond to of 939

Well KLAW97, I've been a little disappointed in my stock picks this week. Yes, the volume has picked up on EVDS. Volume should be picking up because I've been working worked my ass off explaining the company and it's technology. As you know I have a big position in EVDS but I'm not sharing this information for my own personal gain alone. I really believe this will be a huge winner. Anyway, the spread has gotten smaller on EVDS but it has yet to really make the move over $1 that I know is coming. How about CLCK? It's frustrating waiting but I have to tell you CLCK is one of those rare companies that has released news on Friday's. They have released news on Friday's even after the market close. I spoke with Mike Markow recently, a consultant to the company, and he assured me that everything was moving forward beautifully for the company. I know I'm reading between the lines but it would not surprise me at all to see good news soon! Long overdue but finally released news for CLCK. InvestRight Regards, Jeff