Nov. 23, 2024
Dear to whom it may concern, Dear to the respectable decision-makers commissioner and staff, those that we the people by the people depend on them dearly. Those that when we sleep and put our kids to bed, we know they are awake at night finding ways to make our lies in our children lives, better safer, and efficient. You are not a state representative nor a city representative or a town representative, you are a federal representative that the whole country depend on. My name is Kassim Altawil. And I cherish the future of our country just like I cherish the future of my kids. In regards to the following, SEC wording below: “ 18 See proposed Nasdaq Rule 5815(a)(1)(B)(ii)d. 19 See Notice, supra note 3, at 68229. The Exchange states that it has observed that some companies do not regain compliance during the second 180-day compliance period notwithstanding the company’s notification to Nasdaq of its intent to do so. See id. at 68228. The Exchange states that in these circumstances, Nasdaq issues a Delisting Determination; however, as described above, the company could continue its listing by appealing that decision to a Hearings Panel, which has the discretion to provide up to 180 additional days from the date of the Delisting Determination. See id. at 68228-29. 20 See id. at 68229. 21 The Exchange states that if a company was not afforded the second 180-day compliance period, the company would not be affected by this proposal and its security would not be suspended from trading on Nasdaq during an appeal to the Hearings Panel, if any. See id. at 68228 n.8. 22 See id. at 68229. 6 The Exchange states that this proposed change would apply to a company even if the company was in compliance with the Bid Price Requirement at the time of its prior reverse stock split.23 The Exchange states that it has observed that some companies, typically those in financial distress or experiencing a prolonged operational downturn, engage in a pattern of repeated reverse stock splits to regain compliance with the Bid Price Requirement. 24 The Exchange believes that such actions are often indicative of serious difficulties within such companies and, generally, are not temporary such that the company is not likely to regain compliance in a manner consistent with the Bid Price Requirement within the prescribed compliance periods described above. 25 Accordingly, the Exchange states that it believes it is appropriate for investor protection reasons that such companies be immediately subject to the delisting process, rather than being provided a 180-day compliance period pursuant to Nasdaq Rule 5810. 26 III. Proceedings to Determine Whether to Approve or Disapprove SR-NASDAQ-2024-045 and Grounds for Disapproval Under Consideration The Commission is instituting proceedings pursuant to Section 19(b)(2)(B) of the Exchange Act27 to determine whether the proposed rule change should be approved or disapproved. Institution of proceedings is appropriate at this time in view of the legal and policy issues raised by the proposed rule change. Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved”. I would like to say something that you would only hear from an older man or woman with experience, I am not that person yet. But I have a strong and wide wisdom, that I got from listening to older folks anywhere from all walks of life. I meet on a day today. at my job out in the street neighbors on the country roads expressway. I have listened to many men and women speak, wisdom and fairness. No, I have to be fair for the people, I would call it public investors, and the private sector if I’m saying it right. You can say all the companies in the stock market, God created us a nation to live off each other’s back which is 100% understandable. We have to be fair and just for both sides. That’s how our great America can continue being great. But when we have two problems that if we try to just fix one, the other one arises. And no matter how much times you try to fix them individually nothing works properly. Problem number one is the attached SEC wording above. And the second one are the naked shorts squeezers? I will paste the wording from a piece at “ Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises”. https://www.benzinga.com/insights/short-sellers/24/11/42142965/looking-into-tonix-pharmaceuticalss-recent-short-interest. Now let me explain the following, each side is going to try to blame the other for failure. Again, I am talking about the NASDAQ stock companies. And the naked, short companies or individuals. And on the other hand, we have the public investors or shareholders, that have nothing to do with all this nonsense that are an every day working two jobs. To feed their families some of them or most of them are on welfare or homeless. Because they have lost their money, to the NASDAQ share companies, or the Naked short squeeze, companies, or individual short positions. The NASDAQ company stock listing are gonna accuse the naked short squeezers that they decline because of them, and the naked short squeezers are going to accuse the NASDAQ company stock listings that because their cons the squeezers got created to punish them. Dear respectable Commissioner, remember, I said before in the beginning that you cannot fix one and leave the other. the way I see it is that the NASDAQ company stock listings Regardless of who they are need to be fair with the public investors. Not when you search for one of those NASDAQ stock companies you find 8 or 9 sometimes more sometimes less reversed split. That terrorizes every public investor, and send back those hard work in Americans to once again being on welfare or homeless. Then all of those people that lost their money they become angry, and they become a short squeeze positioning to make those companies pay for what they’ve done to them and their families. Please respectable Commissioner approve the new rules, put in place on August, and add that any company that fairly, and with all honesty is facing hardship due to no faults of its own. After they provide evidence and everything in between then give them the chance of that 180 days to regain compliance. But accompany has a strong pipeline and a strong, promising future, and has contracts from the government or contracts from companies, and they can easily make their stock jump to a dollar for compliance or even more. It’s not fair for the Americans the we the people by the people that are called public investors, To go through a reverse split that’s not even needed. And lose everything they got and become homeless or on welfare. Being on welfare is a big problem for city states and the federal government. Especially when a public investor American public investor buys tens of thousands of dollars worth of share. That are 100,000 more or less shares then they easily get turned into hundreds of shares after the reverse split. And lose everything they got. And if the companies are blaming the naked short that borrow shares without even paying a single dime. What is a reverse split going to do if all of these NASDAQ companies are accusing the scammers short squeezers, after the implement the reverse split what guarantees the Americans hard-working Americans, the public investors that the short squeezers won’t come back again and drop that company to pennies. so at the end of the day, the only people that are losing money are not the companies, NASDAQ listing companies nor the short squeezers. It’s the American hard-working American that has families. Children that needs to be fed, those are the people that are going to lose everything no one. To the respectable Commissioner, we the people by the people. The American people the public investors depend on your respectable position to enforce two things to approve the SR – NASDAQ – 2024– 045 and amend it with special circumstances if a company is in serious trouble with all fairness and honesty with hard evidence nothing fabricated gets the 180 days extension. But if they have all kind of pipelines in a promising future and a successful milestone Innovation. No extension no company will need to file a reverse split to its stock if they are being fair and honest with their accomplishments. And they will not need to complain about naked shorts. Number two, please amend also the ones in for all dismantlement of the naked shorts, whether their companies or individuals from stealing from every American hard-working Americans that are honest and Patriots to their country and their families. With that everybody’s coming out to a winner, the protection of our companies in our NASDAQ listings and the protection of our great nation with the people by the people the hard work in Americans. We will see people becoming homeless or on welfare anymore.