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Microcap & Penny Stocks : TNRG Tianrong Building Materials -- Ignore unavailable to you. Want to Upgrade?

To: Old Stock Collector who wrote (4187)	12/21/1998 10:56:00 PM
From: The Steve	Respond to of 9824

Keith, I kind of forgot about that rule they are trying to get in but I don't think that it hs been approved yet. I'm to busy to worry about it now but i skimmed over some stuff at otcbb.com . Here is a link that may help you out: OTCBB Eligibility Rule Proposal Published in the Federal Register: otcbb.com This article says that it has been published but has not been approved. If it is approved, companies will have anywhere from 6 to 18 months to comply, depending on who gets reviewed first and who gets reviewed last. I think they're still considering other alternatives. There is also a link with in this article that you can read the full text that was published with the federal registar. It goes into alot more detail. I really don't have time right now, but I did skim the full text and there is something in there about companies with more than 500 shareholders and more than $10 million in assets. As of 10/16/98, TNRG only had 352 shareholders. So they my not even be eligible for this rule but as I said, I only skimmed it. Here is the part I say that caught may eye: \19\ In addition to its requirements under Section 15(d), an issuer may voluntarily register under Section 12(g) or be required to register under Section 12(g) if it has 500 or more shareholders of record and total assets of more than $10 million. Under both scenarios, the issuer's securities would continue to qualify as eligible securities for purposes of the OTCBB Rules if the issuer maintains current filings with the SEC. This was the latest article listed on the site. There is a link on the side of the screen that says "General News" for other articles. It may have been approved, but it isn't listed here and i haven't seen or heard anything on it. I'm going to take some time after christmas to read over the whole thing. To busy now. Later, Steve