From: R.J. Herdman |
There seems to be a problem in the United States that allows a Company such as MSITF to list on Pinksheets even though the stock and the owner Robert Talbot wouldn't comply with TSE(Toronto)securities rules and are then de-listed.They just for move to the U.S. on Pinksheets.Regulations need to be tightened up in this regard between Canada and the U.S. to stop Canadian Companies that are de-listed from moving to the U.S.This Company operates out of Robert Talbots' basement in Edmonton,Alberta,Canada and is Incorporated in Ontario,Canada has headquarters in Anguilla(a tax free haven in the Caribbean) and lists on Pinksheets.Because shareholders are faced with multiple jurisdictional "buckpassing" we cannot even find out as shareholders what the sharecount is.The excuse is used by Pinksheets tha the outfit is "nonreporting".These outfits have found a loophole in old regulations in order to avoid reporting of income to all Governments.They also hide behind old rules governing the "F" or Foreign symbol used by Pinksheets.We're not even given Voume on the stock during the day.Recently the Company received financing through The Nutmeg Group in Chicago.The head of that Company has a criminal record and more court charges have been brought against him.He is also a former IRS employee.The fact that MSITF is allowed to raise capital in the U.S. Market as "non-reporting" strikes me as odd because the Company does not report income to the U.S. that is presently coming in from Red China(communist),India,Caribbean,Europe and through mail order business targeted at Americans.The other thing you folks should be looking at is how bad individuals that are enemies to North America could be using these type of loopholes on Pinksheets to raise money for evil political purposes or for organized crime purposes.Thank-you for your time.ps-by the way,shareholders haven't had a financial statement from this Company in over two years and the Company is allowed to "gagg" their Transfer Agents.This is another problem you should change for the small investor because these outfits say they report to SEDAR up in Canada they try to look legit,in the meantime they can report to Sedar whenever they feel like it but don't have to file in the U.S. R.J. (Bob) Herdman |