HBK and NIC Resume Trading, Deficiencies Indentified

SLCAPEX CEO Bogart Beck Announces Stricter Financial Reporting Rules Coming

For Associated Content

Hoorenbeek (HBK:SLCAPEX) & Nestler Investments (NIC:SLCAPEX) resumed trading today after properly posting Financial Reporting for the month of October, however Bogart Beck, SLCAPEX CEO, indicated that changes will go into effect in January 2009 to better streamline the information included in financial reports, moving toward a universal standard, at least for SLCAPEX, of what needs to be identified and accounted for, and how.

In relation to HBK(SLCAPEX) and NIC(SLCAPEX), Beck stated, "We have identified deficiencies in both company's reporting methodologies and are consulting with the Officers of each company to resolve those issues."

In a statement for Associated Content Bogart Beck explained, " "We're looking at several policy changes specifically designed to help level the playing field between Investor and listed-company. For example, minimum or continued listing requirements (several viability and solvency tests) as well as a bit more rigidity in the methodologies used for providing Financial Statements."

Furthermore Beck clarified, "In the end each of the SL Stock Exchanges differentiates based on their own Regulatory viewpoints. There is very little enforceability here after-the-fact therefore we're looking to establish a more meaningful way of helping qualify IPO's and providing reasonable oversight and guidance before companies find themselves in trouble or investors find themselves trying to hunt down CEO's"

A question that poses itself due to it being a metric in the playbook I have always used is "insider trades". Martin Zweig won't buy anything with insider sales within 6 months. The software for ACE and SLCAPEX doesn't provide this info as readily as the platforms for the other exchanges, so is that something that might become prerequisite for financial statements?

"Regarding insider trading, the system wasn't written with that in mind (though it probably should have). There are ways to manually monitor the trading activity of the high-visibilty insiders and officers (Top 10) but it takes effort."