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Couple of days ago I got a call from Schwab in reference to my holdings in Response Biomed whose stock is registered in Canada and trades in the over the counter market here (RPBIF.OB). I was told they were making an offering of new stock to existing stockholders (for a price of course). They told me that I had rights to buy but had to be an accredited investor (I'm not) to buy since the new stock is not registered in the United States (which one can see in the SEC filing).
I notice this Crazy Horse Resources Phoenix is pushing (CRZHF.PK) is similar, the only SEC document filed is the claim for an exemption for filings. Does anyone have any experience with or knowledge of situations like this? Are there risks associated with such issues that one does not normally encounter wth US listed stocks?
I guess I figured Canada is kind of an extension of the US with similar laws and protections. It wasn't like I was investing in Outer Muldavia. Can I trust their earnings reports (which are not on the SEC website) any more than one can trust anyone else's? I already know I may not be able to access some rights issues. Any specific feedback would be appreciated.
I notice this Crazy Horse Resources Phoenix is pushing (CRZHF.PK) is similar, the only SEC document filed is the claim for an exemption for filings. Does anyone have any experience with or knowledge of situations like this? Are there risks associated with such issues that one does not normally encounter wth US listed stocks?
I guess I figured Canada is kind of an extension of the US with similar laws and protections. It wasn't like I was investing in Outer Muldavia. Can I trust their earnings reports (which are not on the SEC website) any more than one can trust anyone else's? I already know I may not be able to access some rights issues. Any specific feedback would be appreciated.
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