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FEB/15/08 - NEW PINKSHEET RULES-
New rules for all non-reporting companies
. Goes into effect Feb. 15th
2008 They will no longer be able to sell unrestricted shares, this is being done to try to stop pinkies from diluting. All shares sold will now be restricted for one year, so no more dumping shares on the market. This should have a big effect in the pink sheets as this is how most scams make money. It is also meant to encourage them to become reporting companies.
http://www.sec.gov/cgi-bin/txt-srch-sec?section=Entire+Website&text=145&sort=rank
Final Rule: Revisions to Rules 144 and 145
Conforming Version (To Conform to Release Published in the Federal Register) SECURITIES AND EXCHANGE COMMISSION 17 CFR Parts 230 and 239 [Release No. 33-8869; File No. S7-11-07] RIN 3235-AH13 <(3rd RULE DOWN)
Size: 206413 Modified: 12/13/2007 /rules/final/2007/33-8869.pdf
Taken from:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=26074386
Posted by: bullmaster
In reply to: youhavenoidea who wrote msg# 10033 Date:1/17/2008 12:40:44 PM
Post #of 10036
This is great News for Pinky Land. By NO means am I saying that this is happening here. Just want to share with the board what just found out from another board.
New rules for all non-reporting companies
. Goes into effect Feb. 15th 2008 They will no longer be able to sell unrestricted shares, this is being done to try to stop pinkies from diluting. All shares sold will now be restricted for one year, so no more dumping shares on the market. This should have a big effect in the pink sheets as this is how most scams make money. It is also meant to encourage them to become reporting companies.
http://www.sec.gov/cgi-bin/txt-srch-sec?section=Entire+Website&text=145&sort=rank
Final Rule: Revisions to Rules 144 and 145
Conforming Version (To Conform to Release Published in the Federal Register) SECURITIES AND EXCHANGE COMMISSION 17 CFR Parts 230 and 239 [Release No. 33-8869; File No. S7-11-07] RIN 3235-AH13 <(3rd RULE DOWN)
Size: 206413 Modified: 12/13/2007 /rules/final/2007/33-8869.pdf
Taken from:
http://investorshub.advfn.com/boards/read_msg.asp?message_id=26074386
Posted by: bullmaster
In reply to: youhavenoidea who wrote msg# 10033 Date:1/17/2008 12:40:44 PM
Post #of 10036
This is great News for Pinky Land. By NO means am I saying that this is happening here. Just want to share with the board what just found out from another board.
