PRO-FORMA Definition

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PRO-FORMA is to provide in advance to a prescribed form or to describe item, e.g. pro forma financial statement or pro forma invoice.

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DEVOLVE is to pass on or delegate to another, e.g. a devolved letter of credit.

BID TICK RULE is a NASD rule prohibiting a short sale transaction when the current best bid in a security is less than the previous best bid. That is, when it is on a "down-tick." The bid tick rule does not apply to the OTCBB.

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