Larry Formato

Larry Formato has forty years experience in finance and finance management. He is considered one of the world's leading experts in the Over-The-Counter (OTC) stock market. By age thirty-three, he owned five brokerage firms and was asked by Congress to help construct the Penny Stock Reform Act of 1990.

"Mr. Formato, this has been an extraordinary piece of testimony which has been delivered to our subcommittee. We thank you very much for having the courage to appear before us today, and as the weeks and months go by, as we continue to work on these issues, we are going to stay in close contact with you. I think that there is a ring of truth to what you are saying, and I don't think it is lost on those who serve on this committee.

You have provided an important public service here today, and we thank you."

Congressman Edward J. Markey

Chairman

Subcommittee on Telecommunications and Finance

Mr. Formato is currently focused on multiple mergers and acquisitions and has written his book, Connected, detailing his life in the Penny Stock Market.