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Microcap & Penny Stocks : ADSN - Advanced Systems International -- Ignore unavailable to you. Want to Upgrade?

To: TScott who wrote (428)	6/3/1999 11:09:00 AM
From: Crazy Canuck	Read Replies (1) \| Respond to of 895

Here is my understanding on this scenario . . . As you know, the NASDAQ is cleaning out the companies who are not ready, willing, or able to provide information that can make them accountable for any statements or claims that they make. By July 1st, all companies listed on the OTC must have filed their form 10. If you notice, that the companies listed on the OTC changes list almost all begin with an "A". Well from what I understand, this is the NASDAQ's way of systematically letting the companies know that they are expected to comply by that date. The NASDAQ seems to be taking a shot gun approach to this notice. Even companies who have filed the required information are being identified if they are still in the process of awaiting approval. Remember, ASI (ADSN) has already filed their form 10. They did so as of the 27th of April / 99. Given that within 60 days the NASDAQ has no questions or clarifications they require with respect to the form 10 that the company filed, the company then functions as a filing company (but still on the OTC-BB). Which means every quarter they are required to file a 10Q and every year they are required to file a form 10. ASI's 60 filing period will be at the end of June 99. So, I see this as a positive sign. ADSN is already awaiting approval, unlike several other companies who have not filed as yet. My bet is that several of the other OTC listed companies will not meet the filing deadline, and they will be de-listed. It sure will clean house. It will make the OTC market much more respectable, and everyone should then be able to conduct a minimum level of DD on these companies. Remember, a company can be held liable if they produce incorrect or misleading information in their form 10 filing. Hope this clears this up for you . . . Crazy Canuk