Replies to This Discussion

Permalink Reply by Joe Mag on May 20, 2011 at 1:06

Here is a full definition so you can better understand it.

"Definitions For The Fifth Letter Of Ticker Symbols

Have you ever wondered what that fifth letter at the end of the stock symbol is? It signifies that the issuer may have additional circumstances involved with the stock. Most recognizable is the infamous "E".

Complete "Letter" list enclosed below. You may want to print it out for your own reference.

The Eligibility Rule protects investors by ensuring that they have access to companies current financial information when considering investments in OTCBB-eligible securities.

Nasdaq will continue to monitor the filing status of all OTCBB issuers. In the event of a filing delinquency, Nasdaq will append the trading symbol(s) of the delinquent issuer's security with an "E". The fifth character "E" will be removed from the symbol once Nasdaq receives notification that the security meets the requirements of the Eligibility Rule. After 30 days (60 days for non-SEC filers), if Nasdaq has not been notified that the appropriate filing has been made with the issuer's regulatory authority, the issuer's security will be removed from the OTCBB.

Code: Meaning

A: Class A.

B: Class B.

C: Exempt from Nasdaq listing requirements for a limited period of time.

D: A new issue of an existing stock. (Often the result of a reverse split.)

E: Delinquent in required filings with the SEC as determined by the NASD.

F: Foreign.

G: First Convertible Bond.

H: Second Convertible Bond, same company.

I: Third Convertible Bond, same company.

J: Voting.

K Non-voting.

L: Miscellaneous situations such as foreign preferred, preferred when-issued, a second class of units, a third class of warrants, or a sixth class of preferred stock.

M: Fourth preferred, same company.

N: Third preferred, same company.

O: Second preferred, same company.

P: First preferred.

Q: In bankruptcy proceedings.

R: Rights.

S: Beneficial interest.

T: With warrants or with rights.

U: Units.

V: When-issued and when-distributed.

W: Warrants.

X: Mutual Fund.

Y: ADR (American Depositary Receipts).

Z: Miscellaneous situations such as a second class of warrants, a fifth class of preferred stock, a stub, a foreign preferred when-issued, or any unit, receipt, or certificate representing a limited partnership interest."

I do not know if it means a warning sign but the reason is listed and I am sure it will be taken care of shortly by the company.This is Nasdaq's monitoring of stocks. MNLU (Mainland)has been on bulletin board for a while. Being on the BB is not a bad thing at all. You have to start from pink sheets and work up.

Joe Mag

Permalink Reply by obed w odom on May 20, 2011 at 3:23

Thank you so much for this info Joe. I had no idea what the "E"  meant and the E-trade customer service guy didn't seem to know either.

 

Maybe I'm just a gambler, but I do have some hope for Mainland's future and have recently bought some of their stock; so I have an interest in them doing well.

Permalink Reply by Joe Mag on May 20, 2011 at 4:04

You are welcome.

I am on the positive side as well for them. If you are in it for stocks my advice is it is a good time to buy now as when the third quarter gets rolling it will shoot up like a rocket.

It would be great to see the well actually make the bigtime as natural resources are always needed.

Joe Mag

Permalink Reply by Flip Phillips on May 20, 2011 at 7:34

It was a mistake. Their lawyers are working on it and Mainland will have a release on by Monday.

Permalink Reply by jeff boler on May 21, 2011 at 13:51

The quotation below is from a post taken from page #40 of the gohaynesvilleshale.com discussion board.

Reply by James R Fenoli on January 19, 2011 at 2:54pm

"Talk to the tool pusher on the Rapid Rig in Tellus, Miss and he had a lot to say and none of it was good. He's been doing this for 20ty something yrs and MNLU hasn't payed alot of folks and lots of chloride was found along the way=salt water"

At the time of this post, I refused to believe Mr. Fenoli's words and wrote him off as someone attempting to short the stock after it had increased just prior to his post. Unfortunately, my dad heard recently that MNLU has failed to make any payments to the drilling contractor or drilling fluids provider. The source of this information is a family friend who runs the drilling fluids company who worked MNLU's Burkley Phillips #1 Well. The source stated that both Rapad Drilling and the Mud Provider have filled suit against MNLU for approximately $3MM and $1MM, respectfully. Furthermore, during the process of filling suit, they discovered that Schlumberger had already filled an existing suit for over $20MM. I cannot imagine why MNLU would owe so much to Schlumberger, but that is what I was told.

I have since learned they (Rapad Drilling and 3rd Party Mud Provider) are seeking to establish liens against future production, but I was unable to gain further insight regarding Schlumberger's claim.

Before you ask: No, I do not have any proof. MNLU's Public Representative claims that they have had no problems paying their bills and have taken out loans from wealthy individuals who are invested in the company in order to pay their bills. 

This means one of three things:

1] Both my source and Mr. Fenoli (above) are not telling the truth.

2] MNLU's PR Guy is not telling the truth.

3] MNLU's PR Guy has not been told the truth.

My source is not a liar, and considering his role in these events he is not spreading information that came from another source, but rather he was directly involved in the decision to file suit against MNLU. This means the my source is either telling the truth or he totally fabricated all of this. He is NOT the kind of person who would do such a thing. He is an old country-boy from the woods and is a deacon in his church, and has relied on honesty and integrity to get him to where he is today.

Could these lawsuits/liens have any bearing on the stock's new listing?

Permalink Reply by BirdDawg, plain ole' idiot on May 21, 2011 at 15:10

Jeff boler,

I would think that anyone watching this thead, whether for for against, would have to appreciate your post. Thank you for posting information that you consider to be creditable.

Permalink Reply by Flip Phillips on May 22, 2011 at 0:47

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

May 20, 2011

Date of Report (Date of earliest event reported)

 

 

 

MAINLAND RESOURCES, INC.

(Exact name of registrant as specified in its charter)

 

 

 

NEVADA	000-52782	90-0335743
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

21 Waterway Avenue, Suite 300 The Woodlands, Texas		77380
(Address of principal executive offices)		(Zip Code)

 

 

(281)-469-5990

 

 

Not applicable

 

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

(Former name or former address, if changed since last report)
Registrant's telephone number, including area code

[ X ]	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ X ]	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[    ]	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[    ]	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

---

 

SECTION 8 - Other Events

Item 8.01.         Other Events

Mainland Resources, Inc. (the "Company") has determined that it is no longer an accelerated filer because the aggregate worldwide market value of the Company's common equity held by non-affiliates as of the last business day of the Company's most recently completed second fiscal quarter (August 31, 2010), was less than $50 million. As a result, the Company is a nonaccelerated filer, and its Annual Report on Form 10-K for its fiscal year ended February 28, 2011 will be due by May 31, 2011.

 

On May 20, 2011, FINRA appended the Company's symbol with an "e" for failure to timely file its 10-K, under the assumption that the Company continued to be an accelerated filer. The Company has notified FINRA that the Company is a non-accelerated filer, and FINRA has advised that the "e" will be removed from the Company's symbol upon the opening of business on Monday, May 23, 2011.

 

IMPORTANT ADDITIONAL INFORMATION WILL BE FILED WITH THE SEC

In connection with the proposed merger transaction with American Exploration announced on March 23, 2010, Mainland has filed, and intends to file, relevant materials with the United States Securities and Exchange Commission (the "SEC"), including a Registration Statement on Form S-4 filed with the SEC on December 1, 2010, as amended on Form S-4/A (Amendment No. 1) filed with the SEC on March 18, 2011 (the "Registration Statement"), but which has not been declared effective by the SEC. The Registration Statement includes a preliminary prospectus and related materials to register the securities of Mainland to be issued in exchange for securities of American Exploration. The Registration Statement incorporates a joint proxy statement/prospectus (the "Proxy Statement/Prospectus") that Mainland and American Exploration plan to file with the SEC and mail to their respective stockholders in connection with obtaining stockholder approval of the proposed merger. The Registration Statement and the Proxy Statement/Prospectus contain important information about Mainland, American Exploration, the merger and related matters. Investors and security holders are urged to read the Registration Statement and the Proxy Statement/Prospectus carefully when they are available. Investors and security holders will be able to obtain free copies of the Registration Statement and the Proxy Statement/Prospectus when they become available, and other documents filed with the SEC by Mainland and American Exploration, through the web site maintained by the SEC at www.sec.gov. Mainland's security holders will also receive information at an appropriate time on how to obtain these documents free of charge from the Mainland. In any event, documents filed by Mainland with the SEC may be obtained free of charge by contacting the Company at: Mainland Resources, Inc.; Attention: Mr. William Thomas, CFO; 21 Waterway Avenue, Suite 300, The Woodlands, Texas 77380; Facsimile: (713) 583-1162.

Each of Mainland and American Exploration, and their respective directors and executive officers, also may be deemed to be participants in the solicitation of proxies from their respective stockholders in connection with the transaction described herein. Information regarding the special interests of these directors and executive officers in the transaction described herein will be included in the Proxy Statement/Prospectus described above.

 

2.

 

---

 

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	MAINLAND RESOURCES, INC.
DATE: May 20, 2011	By:                      "William D. Thomas"              William D Thomas              Chief Financial Officer/Treasurer

Permalink Reply by Dennis Dion on May 22, 2011 at 7:20

Maybe I am wrong but I ran a search in judicial districts of Ms La and Texas and found no lawsuits filed against Mainland Resources I believe you should act quickly and do your own DD. IMO this is very serious matter here

Permalink Reply by Two Dogs, Pirate on May 22, 2011 at 14:12

Dennis Dion, if you have a search tool for finding suits in Mississippi then please turn us folks out here in cyberspace on to how to log on. I have found MS to be lagging in all areas of internet savy.

Permalink Reply by jeff boler on May 22, 2011 at 19:33

Are you kidding me? Have you not seen how easy it is to navigate through the Mississippi Oil & Gas Board's Website? It makes SONRIS look like an artifact from the late 80's. haha

Permalink Reply by Dennis Dion on May 23, 2011 at 4:15

Federal securities law requires companies to disclose all material lawsuits in their SEC filings. Disclosures about material lawsuits have to be made in a company first SEC filing after a lawsuit is filed or after the company discovers the a civil suit is probable.

Permalink Reply by Jay Calk on May 23, 2011 at 13:13

This whole thread has gone too long. I don't believe that this outfit has the Hanesville on this loaction certainly not at the depth. If it seems to good to be true something is wrong. Something is wrong with. I heard all I want to hear. This is all fake. Anothe oilfield mystery.

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