Is ASM ready for the U.S. Securities and Exchange Commission? I'm not an expert on them but I have been reading what they're about a little bit and am suprised by some of the things I've read and how they mix (or don't mix) with ASM. Here's the link if you would like to read more:

http://www.sec.gov/about/whatwedo.shtml


Some of it that I found very interesting:


Common violations that may lead to SEC investigations include:

insider trading: buying or selling a security in breach of a relationship of trust and confidence while in possession of material, non-public information about the security;

misrepresentation or omission of important information about securities;

manipulating the market prices of securities;

stealing customers' funds or securities;

violating broker-dealers' responsibility to treat customers fairly; and

sale of securities without proper registration.


Read the last line again. Haven't most of the securities already been sold on ASM? How does this work? You can't go back. Will they go for this?


Are they ready to do this??

The Registration Process


In general, securities sold in the U.S. must be registered. The registration forms companies file provide essential facts while minimizing the burden and expense of complying with the law. In general, registration forms call for:


a description of the company's properties and business;

a description of the security to be offered for sale;

information about the management of the company; and

financial statements certified by independent accountants.
All companies, both domestic and foreign, must file their registration statements electronically. These statements and the accompanying prospectuses become public shortly after filing, and investors can access them using EDGAR. Registration statements are subject to examination for compliance with disclosure requirements.

Hmm, that ties in with ASM buying everything back at a 'fair' price and then offering them for sale again as already mentioned elsewhere.

Yes, and Chris just gave a response to that question on the ASM forums. This would mean to achieve SEC regulation, everything will need to be sold at a fair offer price and be purchased back from the Virginia company in order to be legitimate for the SEC. When this was mentioned, many traders exploded with panic. ASM put out the fire with a statement somewhere along the lines of, "they're just playing with the idea and that it wouldn't absolutely be necessary". Well, apparently it will be necessary and hopefully everyone will realize this now. I'm not worked up over it but I gurantee some of the large investors at ASM will be in a panic now wondering what their fair offer will be and when they can expect to get it. It's safe to say, truth be known, regulation and any type of IPO whatsoever could be many years away if at all.

My guess is that ASM if they actually come to this point will freeze everyones account values at a certain point... cancel out all the stocks and take account value and put it to cash balance...then they will IPO everything out again. let me rephrase that....this would be the BEST way for ASM to do it. THat means they wont do it this way haha. but sounded good.

Also as far as the SEC goes....i dont think it will be too hard to get them to join. ASM may have to pay fines but since they have been planning on getting registered it might not be as bad

They can't convert your account balance to cash.. it's all paper gains. If we ever get there, they'll pay back what you paid for the shares (at best) and give you some extra change from the money they stole from inactive accounts or accounts on hold. And then they'll continue to do whatever they have in mind. But there'll be some severe drops in some people's portfolios at that point.

I have a hard time believing that this is how it will be done.

This scenario would give all traders an opportunity at this point to cash out and ASM has ALWAYS been about tying up traders money with

-- MO and Baron opportunities
-- Cornerstone partnership
-- Market Makers
-- various DRIP investments
-- percentage change of dividend payouts
-- KYCF
-- extremely slow payouts
-- auditting of accounts that take forever

these are a few off of the top of my head.

With those that are attempting to get out - this scenario would be a wonderful solution, but Chris always comes up with a way to tie up our money so that we can't get to it.

Just like WarTrade to ASM.

Sorry we are gone, but ASM will give you your balance + 20% in ASM. So sorry, no money, but you get store credit

Will they let everyone know this is going to happen or not? Because all of a sudden, paper gains play a major role. There's no way they could let people know in advance. Every MO would buy up the remaining shares of their stock on the board at any price in order to inflate their holdings and so would everyone else. A small group of shares could be purchased and double the over-all float's value. Then where would the cash payout come from? What season would be best to do this in? Who gets screwed? Optimistically, I believe Chris only feels they will need to re-IPO the ASMA1s which could be possible. I guess after looking at the real profits (not made up ) they should easily be able to send out 2 million back to the traders to re-invest. Besides, after all the splitting I believe the value of ASMA1 remains the same anyway. They'd just be giving the initial money back essentially. Wouldn't they?...........Now this is the part where the pipe dream starts fading out back to reality. There's no way they send this kind of money back out of the system. NO WAY!

you must be joking how in h*** would ASM be able to throw up such money that they can buy out the current owners.

If it will be necessary they will give options to the current owners for free that they can use to buy the shares under regulated forms.

I see no connection to the creation of an obligation by
AllSportsMarket.com to repurchase derivative inventory.

The intent is a direct transfer from the present entity to the new one.

Chris