posted on February 8, 2001 01:49:42 PM new
Quiet period -- The time period in which companies in registration are forbidden by the Securities and Exchange Commission to say anything not included in their prospectus, which could be interpreted as hyping an offering. Starts the day a company files an S-1 registration statement and lasts until 25 days after a stock starts trading. The intent and effect of the quiet period have been hotly debated.
CEO (or his advisors) must be aware of this rule.His offer to buy all other auction companys just doesn't make sense.
posted on February 8, 2001 07:46:21 PM new
I want to thank rtt for pointing this out because I found the website where he retrieved that information and I wanted to make sure everyone was clear on what an S-1 was.
S-1 -- document filed with the Securities & Exchange Commission announcing a company's intent to go public. Includes the prospectus and is also called the registration statement
Now if you go and check out the SB2 filing you will see that it is exactly the "FORM SB-2 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933"
Registration statement being the key word that confirmed for me that this is the S-1.
The filing date was January 16th and the quiet period was to begin that day and continue up until 25 days after the stock begins trading.
Now I'm not a CEO, but I knew this was not kosher...so this makes you wonder about the judgement calls this man has made.
Heck I've been wondering about all the judgement calls...but finally. This is some serious validation here that cannot be denied.
For all the BidBay cheerleaders who keep coming in here touting the site why can you not see these continual missteps in running this business? Why do you choose to turn a blind eye and label me a trouble maker?
All I am doing is pointing out these things I am not doing them.
