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Pastimes : Georgia Bard's Corner -- Ignore unavailable to you. Want to Upgrade?

To: Frank Fontaine who wrote (5015)	3/15/1999 12:46:00 AM
From: Ga Bard	Read Replies (1) \| Respond to of 9440

Frank, I can feel for those investors out all their money since that means IKAR will have to get a GAAP Audit based on real assets and then a new 15c211 applied for before it will ever trade again ... This should not be taken likely and since IKAR was never fully reporting to start with so the chances of coming back are very slim especially with the following provision in the halt order: If any broker or dealer is uncertain as to what is required by Rule 15c2-11, he should refrain from entering quotations relating to Ikar's securities until such time as he has familiarized himself with the rule and is certain that all of its provisions have been met. If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action. Also the SEC is redefining the 15c211 law which means that even if a MM applies or makes a 15c211 and gets approved by NASDAQ every broker will have to follow suit because the 30 day piggyback rule I do not believe is applicable any longer as of May 5, 1999. Not real sure yet but tracking the progress of S8, 504, 701 & the 15c211 changes coming forth which are all good to keep the scammers and manipulators from misusing these laws. I guess the old saying what goes around comes around applies here. Hope no on-line poster took compensation. Gary