(Total Views: 487)
Posted On: 05/05/2022 6:40:43 AM
Post# of 9144
Re: barniethedino #8846
trading is allowed on the expert and grey markets but brokers are not allowed to provide quotes until compliance w the 15c2-11
and on expert market theoretically need to meet certain capital requirements which most penny traders would not meet-and dont know what tools brokers would use to test such capital requirements before allowing the trade-brokers have no interest in being such a babysitter
so a bidder or seller has to place their order blindly without knowing what the bids and asks are
https://www.otcmarkets.com/learn/15c2-11-resource-center
dont know the date of this last reported revision
when companies are faced with expert/grey markets or cease trade orders they sometimes have to raise money to finance the accounting fees
sometimes they have to get a partial revocation of a cease trade order to allow such share issuance to raise moneys
NNLX is NOT under a cease trade order but its difficult to raise money when a co is on grey or expert market
i've seen just as an example it take a co 6 months or more to get a partial revocation and raise money- at usually a discount to the pps
Presumably (but not necessarily in our experience), as part of fiduciary duty, NNLX would provide an update when they have raised the money for accounting fees and provide any other relevant info
last update notified they would raise money for the accounting fees privately but i dont remember all the details-somebody could post that info
and on expert market theoretically need to meet certain capital requirements which most penny traders would not meet-and dont know what tools brokers would use to test such capital requirements before allowing the trade-brokers have no interest in being such a babysitter
so a bidder or seller has to place their order blindly without knowing what the bids and asks are
https://www.otcmarkets.com/learn/15c2-11-resource-center
dont know the date of this last reported revision
when companies are faced with expert/grey markets or cease trade orders they sometimes have to raise money to finance the accounting fees
sometimes they have to get a partial revocation of a cease trade order to allow such share issuance to raise moneys
NNLX is NOT under a cease trade order but its difficult to raise money when a co is on grey or expert market
i've seen just as an example it take a co 6 months or more to get a partial revocation and raise money- at usually a discount to the pps
Presumably (but not necessarily in our experience), as part of fiduciary duty, NNLX would provide an update when they have raised the money for accounting fees and provide any other relevant info
last update notified they would raise money for the accounting fees privately but i dont remember all the details-somebody could post that info
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