some other brokers will probably join e trades stance in going beyond the requirements of the soon to be new rule.
Most brokers are basically irritated by and astonishingly ignorant of penny stocks. So they dont need much encouragement to restrict such. Especially in a political environment where relatively defenseless low pennies -especially those noncurrent -are under attack because "all business is evil and thus must be destroyed".
This is another reason why 'no info' and 'limited info' stocks need to upgrade to 'current info' status- to protect their investors from catastrophic loss and protect their pps and thus the companies ability to raise capital.
As I said before, during the same political environment from 2009-2015, thousands of low pennies-esp those noncurrent -were suddenly restricted without notice or due process-an illegal taking without compensation against innocent 3rd party purchasers(retail longs).
Longs were essentially forbidden from selling while a free for all of mutant groups taking advantage of the unparalleled political environment shorted the stocks to .0001. -destroying many lives
If NNLX doesnt plan on upgrading to 'current' classification by providing the necessary info to otc etc by June 30 (the stated deadline for doing so)- NNLX and its longs would probably meet the same fate.
As one who understands these things its my duty to say so.
I know there are some who read my posts who communicate with NNLX who can warn NNLX if NNLX doesnt plan on upgrading
the ff is from etrade:
E*TRADE
Updated SEC rules for over-the-counter securities
New rules will affect your ability to buy and sell “Pink No Information” securities, including at E*TRADE
On September 28, 2021, new requirements take effect that will impact the market for—and value of—certain “over-the-counter (OTC) securities” you currently hold or have held in the past. The new rules apply to “Pink No Information” OTC securities of companies that fail to publicly report and keep current financial and other company information and will restrict the ability of U.S. brokers, like E*TRADE from making these products generally available.
Some background on the new requirements
The Securities and Exchange Commission (SEC) recently adopted amendments to SEC Rule 15c2-11 governing the submission and publication of OTC quotations. These amendments will prohibit broker-dealers from submitting or publicly disseminating bid/ask quotations for OTC securities of issuers that do not meet enhanced information filing requirements.
Securities of issuers that make the required information publicly available by the deadline in the rule should not be affected.
What these changes mean for you
Starting September 28, 2021, you will no longer be able to buy or sell “Pink No Information” OTC securities through E*TRADE. Other restrictions related to the purchase of these securities may apply sooner. Please keep in mind that the upcoming changes will negatively affect the value of any “Pink No Information” OTC securities you hold now or in the future.
Here’s how to get more information about these changes and how they might affect you:
Understand the SEC amendments for OTC securities
Learn more about quotations for OTC securities
Most brokers are basically irritated by and astonishingly ignorant of penny stocks. So they dont need much encouragement to restrict such. Especially in a political environment where relatively defenseless low pennies -especially those noncurrent -are under attack because "all business is evil and thus must be destroyed".
This is another reason why 'no info' and 'limited info' stocks need to upgrade to 'current info' status- to protect their investors from catastrophic loss and protect their pps and thus the companies ability to raise capital.
As I said before, during the same political environment from 2009-2015, thousands of low pennies-esp those noncurrent -were suddenly restricted without notice or due process-an illegal taking without compensation against innocent 3rd party purchasers(retail longs).
Longs were essentially forbidden from selling while a free for all of mutant groups taking advantage of the unparalleled political environment shorted the stocks to .0001. -destroying many lives
If NNLX doesnt plan on upgrading to 'current' classification by providing the necessary info to otc etc by June 30 (the stated deadline for doing so)- NNLX and its longs would probably meet the same fate.
As one who understands these things its my duty to say so.
I know there are some who read my posts who communicate with NNLX who can warn NNLX if NNLX doesnt plan on upgrading
the ff is from etrade:
E*TRADE
Updated SEC rules for over-the-counter securities
New rules will affect your ability to buy and sell “Pink No Information” securities, including at E*TRADE
On September 28, 2021, new requirements take effect that will impact the market for—and value of—certain “over-the-counter (OTC) securities” you currently hold or have held in the past. The new rules apply to “Pink No Information” OTC securities of companies that fail to publicly report and keep current financial and other company information and will restrict the ability of U.S. brokers, like E*TRADE from making these products generally available.
Some background on the new requirements
The Securities and Exchange Commission (SEC) recently adopted amendments to SEC Rule 15c2-11 governing the submission and publication of OTC quotations. These amendments will prohibit broker-dealers from submitting or publicly disseminating bid/ask quotations for OTC securities of issuers that do not meet enhanced information filing requirements.
Securities of issuers that make the required information publicly available by the deadline in the rule should not be affected.
What these changes mean for you
Starting September 28, 2021, you will no longer be able to buy or sell “Pink No Information” OTC securities through E*TRADE. Other restrictions related to the purchase of these securities may apply sooner. Please keep in mind that the upcoming changes will negatively affect the value of any “Pink No Information” OTC securities you hold now or in the future.
Here’s how to get more information about these changes and how they might affect you:
Understand the SEC amendments for OTC securities
Learn more about quotations for OTC securities
