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Microcap & Penny Stocks : Leah Industries, Inc. (OTC-BB-LEAH) -- Ignore unavailable to you. Want to Upgrade?

To: DISHRAIDER who wrote (1776)	3/24/1999 10:31:00 PM
From: Baldur Fjvlnisson	Read Replies (1) \| Respond to of 2153

The pinks: nqb.com Excerpt from nqb.com : Bold = edit. "Why is 15c2-11 flawed? Market Makers are concerned of the potential liability from an oversight role. Rule 15c2-11 uses the Trojan horse that investors in Pink Sheets and OTCBB issues suffer from a lack of available information and that increased information will decrease opportunities for fraud and manipulation. We agree. What NQB disagrees with is the review and oversight responsibilities that the Rule requires of Market Makers. Market Makers are supposed to look for "red flags" that signal potential or actual fraud and/or manipulation. Market Makers cannot rely on the fact that the information is audited and/or filed with the SEC. NASD Notice to Members 92-50 states "simply because the statements have been audited, a broker/dealer cannot avoid its responsibility to review the financial statements in order to have a reasonable basis to believe that the information is accurate." The SEC does not review all information that is filed on EDGAR. The SEC states on their web site "By law, the reports that companies file with the SEC must be truthful and complete, presenting the facts investors find important in making decisions to buy, hold, or sell a security. But the SEC cannot guarantee the accuracy of the reports companies file. Some dishonest companies break the law and file false reports." NQB does not think that the SEC should hold Market Makers to a higher review standard than they hold themselves to."

To: DISHRAIDER who wrote (1776)	3/24/1999 10:31:00 PM
From: Robert Tarics	Read Replies (1) \| Respond to of 2153

I am sorry I even made the post about resumption of trading. When I last spoke to management several days ago, they did not sound confident that the audit would be forthcoming anytime soon. Management declined to commit to a date certain and seemed to imply that it could be later, much later than sooner. I got the impression that it could easily be more than 30 days off. I wish I could report that the audit is imminent, but I cannot. When this is coupled by the absence of any press releases, it looks bleak. In all fairness, I must say that management was adamant that D&T(CIS) was the auditor and it was very impressed with what it had seen. We sure have come a long ways since last August when an AMEX listing was just around the corner to a possible pink sheet listing on Monday!! Oh well. I am still keeping my fingers crossed and hoping for the best. I feel like flying up to Toronto to personally check out the situation. Anybody want to pitch in for an airline ticket? P.S. Are any of you from Houston? Did any of you invest in GKI? Just checking.