Mike The Pike Productions (OTC: MIKP) (www.mtpprods.com), an entertainment company with a focus in feature films, graphic novels and media holdings, announces today that its recent SEC suspension was lifted over the weekend. Today, trading resumes on the Grey Market.
According to OTC Markets, trades in grey market stocks “are reported by broker-dealers to their Self Regulatory Organization (SRO) and the SRO distributes the trade data to market data vendors and financial websites so investors can track price and volume. Since grey market securities are not traded or quoted on an exchange or interdealer quotation system, investor's bids and offers are not collected in a central spot so market transparency is diminished and Best Execution of orders is difficult.”
The company is working diligently to resume quotation by market makers in the OTC Markets and has initiated proceedings with a Market Maker toward submission for OTC interdealer quotation via filing of Form 15c2-11 with FINRA.
The process, which the company feels will take anywhere from 3-6 months, is alongside ongoing operations which include at least two additional feature film announcements in 2012 for its subsidiary, Saint James Films (http://www.saintjamesfilms.com), as well as additional accrued revenues, attendance at the 2012 American Film Market, advancement on effects driven sci-fi thriller, White Space and progress in line with exciting developments on The Skin Trade, a franchise in the works, based on the award winning novella by George R.R. Martin, author behind HBO’s Game of Thrones.
MIKP CEO, Mark B. Newbauer, states, “I respect the SEC’s desire to clean up the non-reporting markets. Though I am not a fan of the criteria for selection or the fact that a portion of time and resources will be utilized on the Form 211 application process, we are thrilled to have met with a Market Maker that is confident, based on our discussions, that a reinstated quote seems more possible than not.”
He continues, “Another option considered was to accept a share for share acquisition offer by a fully reporting company or to, ourselves, file audited financials with a registration to become fully reporting. Though I feel the latter two options are viable, I feel the process we have chosen to set in motion is the path with least resistance in terms of overall benefit to the company and its shareholders; and has much potential for success. In the meantime, we’ll continue producing in what remains the company’s most successful year yet in terms of project-flow, revenues and strategic alliances that set the stage for exponential growth and industry position.”
The company will continue to make announcements via press release along with content and comments via its corporate blog (http://blog.mtpprods.com) and is looking very much forward to a productive AFM (www.americanfilmmarket.com)
About Mike The Pike Productions, Inc..: Mike The Pike Productions is an entertainment company specializing in feature films, graphic novels and media acquisitions. Overall, MIKP projects are ‘Mainstream Independent’, combining a well-structured vision with top-tier talent; challenging current standards while maintaining mass appeal. Official Company Website: www.mtpprods.com
About the CEO: Mark B. Newbauer’s bio on IMDB: http://www.imdb.com/name/nm1474431/bio
IMPORTANT SHAREHOLDER LINKS:
- Visit our website at www.mtpprods.com
- MTP Facebook: www.facebook.com/MTPfb
- White Space official website: www.enterwhitespace.com
- White Space Facebook: www.facebook.com/enterwhitespace.com
- George R.R. Martin’s The Skin Trade: www.theskintrademovie.com
- GRRM The Skin Trade Facebook: www.facebook.com/BlackstoneManor
- Subsidiary- Saint James Films, LLC: www.saintjamesfilms.com
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Mark B. Newbauer, 310-986-2734