International Power Group Pink Sheets
In June of 2006, we had the privilege of speaking with IPWG CEO Peter Toscano. With corporate offices in Florida, England, and M?xico, Mr. Toscano is habitually on the move so we felt very lucky to speak with him.
Question: Mr. Toscano, you have recently been involved with companies that were quoted by the OTCBB and the Pink Sheets respectively. What advantages and disadvantages do you see between the two quotation services?
Mr. Toscano: First of all, being quoted on the OTCBB instantly provides a measure of respect to your company. This is especially important when you are trying to raise funds for your company. Many venture capitalists won't talk to you when they hear that your company is quoted on the Pinks. I once had a guy tell me to come back once my company had "grown up".
Getting a listing on the OTCBB is not an easy process. I had a company once wait for two years to get its listing on the bulletin board. In fact, I am currently waiting for IPWG to get the go ahead for its move to the bulletin board. We filed paperwork with the SEC in July 2005 and we are still waiting for approval! Those guys scrutinize you with a fine tooth comb before approving your listing.
Question: Are there advantages to being listed on the Pink Sheets?
Mr. Toscano: The good thing about the Pink Sheets is that it is easier to get an initial listing. You have the ability to get your stock up and running without the long wait of the bulletin board. Even though we are currently on the Pinks, we are a fully reporting company. Because of this, I think that we will have a smooth transition to the bulletin board.
Question: You have chosen to be a fully reporting company even though it is not required by the Pink Sheets. Why?
Mr. Toscano: I feel that it is very important for your company to be transparent. The stock is publicly traded. A company with publicly traded stock should make its information public. How can you ask someone to invest their hard earned money in your company if you hide information from them? That just doesn't seem right to me.
Question: So, are you saying that all publicly traded companies should be fully compliant with their filings?
Mr. Toscano: Yes, that is exactly what I am saying. If you have a publicly traded company, you must cater to the public. They should have rail access to your filings so they can make an informed decision about your company.
Question: What is the biggest problem that you see facing OTCBB or Pink Sheet stocks?
Mr. Toscano: Without a doubt, it's the shorts.
