Pink Sheets has created a new categorization system to alert investors about the ability and willingness of individual issuers to provide adequate public disclosure in a timely manner.



Current Information - Indicates reporting companies that submit filings to regulators with powers of review and that make the filings publicly available or non-reporting companies that make current information publicly available on the Pink Sheets News Service. The Current Information category is based on the level of disclosure and is not a designation of quality or investment risk. This category includes shell or development stage companies with little or no operations as well as companies without audited financials and as such should be considered extremely speculative by investors.

Pink Sheets will automatically designate companies as providing Current Information that are:

    * Registered with the SEC pursuant to 12(g) of the Securities Act and current in all required filings; or
    * Banks that file with a U.S. banking regulator; or
    * Listed on a Qualified Foreign Stock Exchange; or
    * Foreign private issuers exempt from SEC Registration under Rule 12g3-2(b).




Non-reporting companies are required to make current information available to the market pursuant to Pink Sheets Guidelines for Providing Adequate Current Information (DOC).
Limited Information    

Limited Information - Is designed for companies with financial reporting problems, economic distress, or in bankruptcy to make the limited information they have publicly available. The Limited Information category also includes companies that may not be troubled, but are unwilling to meet Pink Sheets' Guidelines for Providing Adequate Current Information.

Companies in this category have limited financial information not older than six months available on the Pink Sheets News Service or have made a filing on the SEC's EDGAR system in the previous six months.



No Information - Indicates companies that are not able or willing to provide disclosure to the public markets - either to a regulator, an exchange or Pink Sheets. Companies in this category do not make Current Information available via Pink Sheets News Service, or if they do, the available information is older than six months.

This category includes defunct companies that have ceased operations as well as ?dark? companies with questionable management and market disclosure practices. Publicly traded companies that are not willing to provide information to investors should be treated with suspicion and their securities should be considered highly risky.



Caveat Emptor - Buyer Beware. There is a public interest concern associated with the company, which may include a spam campaign, stock promotion or known investigation of fraudulent activity committed by the company or insiders. During a spam campaign, any stock that is not in the Current Information category will also have its quotes blocked on pinksheets.com.