The OTCQB market offers early-stage and developing companies access to an exchange with lower cost and complexity than the OTC Pink exchange. Hamilton & Associates Law Group, P.A. j0_Ut2%z. If any of the beneficial shareholders are corporate entities, provide the name and address of the person(s) owning or controlling such corporate entities and the resident agents of the corporate entities. Entitle Level 2 Quote Display service for the Companys securities on OTC Markets Groups websites and the Companys corporate websites. It doesn't take 90 trading days with a bid above $4 to uplist to Nasdaq. In addition, OTC Markets Group may remove the companys securities from trading onOTCQXimmediately and at any time, without notice, if OTC Markets Group, upon its sole and absolute discretion, believes the continued inclusion of the companys securities would impair the reputation or integrity of OTC Markets Group or be detrimental to the interests of investors. Qualifying for OTCMarkets' Pink Current Information tier is a straightforward and relatively inexpensive way for small companies to go public, and to enjoy the benefits that status provides. OTC Markets Group Inc. operates financial markets for 11,000 U.S. and global . Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. Pink Sheets: Listings for Stocks That Trade Over-the-Counter. In addition, OTC Markets can temporarily suspend trading on the OTCQX pending investigation or further due diligence review. VNUE, Inc. (VNUE) Announces Application to Uplist to OTCQB Market Uplisting to the OTCQB is expected to improve the company's position in the public markets and increase visibility to the investment community NEWS PROVIDED BY VNUE, Inc. Mar 02, 2021, 11:48 ET NEW YORK, March 2, 2021 /PRNewswire/ -- VNUE, Inc. (OTCMKTS: VNUE), a leading music technology company, Regulation A Reporting Companies must file all reports required to be filed on EDGAR. Regulation A+ Standards: The reporting standard for a Company subject to the reporting obligations under Tier 2 of Regulation A under the Securities Act. The OTCQB replaced the Financial Industry Regulatory Authority (FINRA)-operated OTC Bulletin Board (OTCBB) as the main market for trading OTC securities that report to a U.S. regulator. In the event the Company regains compliance with requirements under Section 2 of these OTCQB Standards subsequent to its Removal Date, OTC Markets Group may, in its sole and absolute discretion, readmit the Company to the OTCQB market under the following conditions: If the Company regains compliance within 30 calendar days of Removal Date and has not completed or announced a corporate action during this time, OTC Markets Group may readmit the Company to the OTCQB market with no further action required; If the Company regains compliance within 30 calendar days of Removal Date and has completed or announced a corporate action during this time, the Company must submit a new OTCQB Certification for review and approval by OTC Markets Group; If the Company regains compliance more than 30 calendar days and less than six months after Removal Date, the Company must submit a new OTCQB Certification for review and approval by OTC Markets Group; and. It appears that uplisted bank stocks are a solid good bet. We can help you get started with your listing through our OTC stock transfer agent services. Satisfy all of the eligibility requirements for OTCQX U.S. set forth above; Have (i) At least (a) 500,000 publicly held shares; and (b) $1 million in market value of publicly held shares; and (ii) at least (a) $500,000 in net income (in the latest fiscal year or in two of the last three fiscal years); or (b) $2.5 million in stockholders . What Is the Regulation SHO Short Seller Rule? At least two members of the Board of Directors and a majority of the members of the Audit Committee must satisfy the independence requirement within the later of 90 days after the Company begins trading on OTCQB or the time of the Companys next shareholder meeting. Issuers with no information are denoted by a skull and crossbones, issuers with limited financial and business information are classified as limited information, and issuers which provide information as set forth in the OTC Markets Pink Alternative Reporting Standard are denoted with a current information symbol. Smaller Reporting Companies (SRCs) and (EGCs), SEC Statues, Rules, Regulations and Schedules, Public Company SEC Reporting Requirements. At least two members of the Board of Directors and a majority of the members of the Audit Committee must satisfy the independence requirement within the later of 90 days after the Company begins trading on OTCQB or the time of the Companys next shareholder meeting. OTC Markets Group may remove the Companys securities from trading on the OTCQB market for the Companys failure to meet the requirements set forth in Section 2 of these OTCQB Standards or any other obligations under these OTCQB Standards, which determination shall be made by OTC Markets Group in its sole and absolute discretion, unless such failure is cured within the time frames set forth below: OTC Markets Group may, in its sole and absolute discretion, provide additional time to cure, provided, however, that to remain on OTCQB a Company must at all times have on file audited financials dated within the prior 18 months as required to qualify for the Blue Sky securities secondary trading exemptions described in Section 2.2(5) of these OTCQB Standards. %%EOF There is also no guarantee that stocks trading in the OTC market are of higher quality than penny stocks trading on different OTC tiers or even different OTC marketplaces. (Regulation A Companies are exempt from the initial requirement) Be SEC Reporting, Regulation A Reporting, Bank Reporting or Alternative Reporting Have a minimum bid price of $0.01 as of the close of business for each of the last 30 calendar days If the Company regains compliance more than six months after Removal Date, the Company must submit a new OTCQB Application and Agreement. Be quoted by a market maker on the OTC Link (which requires a 15c2-11 application if the company is not already quoted on a lower tier of OTC Markets); Not be in bankruptcy or reorganization proceedings; Be included in a Recognized Securities Manual or be subject to the reporting requirements of the Exchange Act; Have its securities listed on a Qualifying Foreign Stock Exchange for a minimum of the preceding 40 calendar days; provided, however, that in the event the companys securities are listed on a non-U.S. exchange that is not a Qualified Foreign Stock Exchange, then at the companys request and subsequent to the company providing OTC Markets Group with personal information forms for each executive officer, director, and beneficial owner of 10% or more of a class of the companys securities and such other materials as OTC Markets Group deems necessary to make an informed determination of eligibility, OTC Markets Group may, upon its sole and absolute discretion, consider the companys eligibility for OTCQX International; Meet one of the following conditions: (i) be eligible to rely on the registration exemption found in Exchange Act Rule 12g-2(b) and be current and compliant in such requirements; or (ii) have a class of securities registered under Section 12(g) of the Exchange Act and be current in its SEC reporting requirements; or (iii) if such company is not eligible to rely on the exemption from registration provided by Exchange Act Rule 12g3-2(b) because it does not (A) meet the definition of foreign private issuer as that term is used in Exchange Act Rule 12g3-2(b) or (B) maintain a primary trading market in a foreign jurisdiction as set forth in Exchange Act Rule 12g3-2(b)(ii), and is not otherwise required to register under Section 12(g), be otherwise current and fully compliant with the obligations of a company relying on the exemption from registration provided by Exchange Act Rule 12g3-2(b). OTC Link enables broker-dealers to not onlypost and disseminate their quotes, but also negotiate trades through the systems electronic messaging capability. In our opinion an OTCQB listing would be advisable, it just has an additional layer of compliance, we can start with the Pink Sheet Listing and you can choose to uplist to OTCQB or QX, if desired. RINO International ( OTCPK:RINO) uplisted to the NASDAQ in July 2009 and initially saw its price jump 12% from $9.10 to over $10.19 the day the uplisting was announced. The 90-day misconception comes from the fact that some companies that are not yet profitable and that lack an adequate. The limits are lower for the other OTC markets. An OTCQB Company should act promptly to dispel unfounded rumors which result in unusual market activity or price variations. Unless the SEC finds reason to deny or delay the application it's approved automatically. Going Public eBook by Securities Lawyer 101, Going Public Attorney's Guide to Rule 506, Due Diligence & the Going Public Attorney, Why Companies Need a Going Public Attorney. that do not qualify for OTCQX seeking inclusion on OTCQB. Demo Hari Ini Jakarta 2021, These statements reflect managements current views with respect to future events and are subject to inherent risks, uncertainties and changes in circumstances that are difficult to predict (many of which are outside of the companys control) and could cause the companys actual results to differ materially from those contained in the forward-looking statements. Special Considerations Stocks trading in the OTCQB have many of the same protections as. Since uplisting, the stock . Are Facebook Ads Worth it For Small Businesses? Cloud-based lending platform PayPlan offers a $1000 price point to spark innovation in lending. Hamilton & Associates Law Group, P.A. How to Play Stocks in the Pink Sheets Market, Introducing Pink Sheets: The OTC Pink Market, The Most Crucial Financial Ratios for Penny Stocks, What Is OTCQX? All OTCQB companies will be required to pay an annual fee of $10,000. Quotation is available for American Depository Receipts (ADRs) or foreign ordinary securities of companies traded on a Qualifying Foreign Stock Exchange. A foreign issuer may not rely on the rule if it is otherwise subject to the Exchange Act reporting requirements. The stock has since evened out and the company has yet to give an update on its Nasdaq application or its name change to American Battery . Businesses need to provide proof of meeting all minimum requirements including net tangible assets, revenue, and bid price. Requirements for Bank Reporting Companies. Generally, it takes one business day after compliance is verified. Notification of Resignation or Dismissal of PAL A company must immediately notify OTC Markets in writing of the resignation or dismissal of the PAL for any reason; Payment of Fees a company must pay its annual fees to OTC Markets; Responding to OTC Markets Group Requests OTCQX quoted companies are required to respond to OTC Markets comments and amend filings as necessary in response thereto; Ongoing Disclosure Obligations (i) Companies subject to the Exchange Act reporting requirements must remain current in such reports; (ii) A company that is not an SEC Reporting Company must remain current and fully compliant in its obligations under Exchange Act Rule 12g3-2(b), if applicable, and in any event shall, on an ongoing basis, post in English through the OTC Disclosure & News Service or an Integrated Newswire, the information required to be made publicly available pursuant to Exchange Act Rule 12g3-2(b); (iii) provide a letter to its PAL at least once a year, no later than 210 days after the fiscal year end which states that the company (y) continues to satisfy the OTCQX quotation requirements; and (z) is current and compliant in its obligations under Exchange Act Rule 12g3-2(b) and that the information required under such rule is posted, in English, on the OTC Markets website or that the company is subject to the SEC reporting requirements and is current in such reporting requirements. In order to maintain theRule 12g3-2(b)exemption, the issuer must continue to publish the required information on an ongoing basis and for each fiscal year. Identify any law firm and attorney(s) that acted as the Companys primary legal counsel in preparing its most recent annual report. Inquiries of a technical nature are always encouraged. The firm has been approved by OTC Markets Group to serve as a Sponsor for the OTCQX market and continues to satisfy the standards. Week 1. The goal of the OTCQB is to help companies build shareholder value by enhancing liquidity and achieving fair valuation. The Company and its subsidiaries, Helix House and Alchemy Technologies, work together to deliver premium marketing, lending, and customer financing solutions to small business owners around the world. When used in the offering materials, the words aim, estimate, project, believe, anticipate, intend, envision, estimate, expect, future, goal, hope, likely, may, plan, potential, seek, should, strategy, will and similar references to future periods are intended to identify forward-looking statements, which constitute forward looking statements. 2 of 3), Three Tips to Make Your Digital Ads Stand Out, Business Warrior and Fuel Me Enter $25M Funding Partnership, Three Places You Should Be Advertising Your Permanent Makeup Clinic, Business Warrior Announces Update on Audit, Three Things your Mobile IV Clinic Should Be Doing Online, Business Warrior Provides Acquisition Status Update, Business 101: Turning Walk-ins into Recurring Customers Using Lead Nurturing (Pt. Information required to be released quickly to the public under this section 2.2(7) should be disclosed in a press release or through the OTC Disclosure & News Service or through an Integrated Newswire. The OTCQX has two tiers of quotation for U.S. companies: (i) OTCQX International Premier; and (ii) OTCQX International. The application is subject to review and comment by OTC Markets. Primary Trading Market means that at least 55 percent of the trading in the subject class of securities on a worldwide basis took place in, on or through the facilities of a securities market or markets in a single foreign jurisdiction or in no more than two foreign jurisdictions during the issuers most recently completed fiscal year. Moreover, a foreign entity must submit a letter of introduction from a qualified PAL which states that the PAL has a reasonable belief that the company is in compliance with SEC Rule 12g3-2(b), is listed on a Qualified Foreign Exchange, and has posted required disclosure on the OTC Markets website. This is one of the most important and fundamental purposes of the OTCQB market. The information is presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors. Investopedia does not include all offers available in the marketplace. OTC Markets | Official site of OTCQX, OTCQB and Pink Markets Once you file your initial application with the New York Stock Exchange, you should hear back from a representative of the exchange in approximately 14 days; however, it may take several months to go through the process from start to finish. Qualified Foreign Exchange. Bank reporting companies must meet all the same requirements as all other OTCQB companies except for the SEC reporting requirements. The Timeline of the Application. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. hb```f``Zf @q`;y`#8bBy"_:gN.dxC4A!Q7J1W)b\rsJ Lpu7=5QnMhc@.dy;-0 }Zo`\VB"t2D Nhl International Reporting Standard: The reporting standard for an International Company that is current and fully compliant with the disclosure requirements of Exchange Act Rule 12g3-2(b) and is listed on a Qualified Foreign Exchange. The company must comply with Exchange Act Rule 10b-17 and FINRA rule 6490 regarding notification and processing of corporate actions (such as name changes, splits and dividends). endstream endobj startxref According to OTC Markets, companies trading on OTCQX must "meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in. How long does it take for my company to join OTCQX or OTCQB? 2022 ANTHONY L.G., PLLC . Some companies might be forced to undergo additional scrutiny, particularly if they have recently been delisted from the New York Stock Exchange or NASDAQ. In addition, OTC Markets Group may remove the companys securities from trading on OTCQB immediately and at any time, without notice, if OTC Markets Group, upon its sole and absolute discretion, believes the continued inclusion of the companys securities would impair the reputation or integrity of OTC Markets Group or be detrimental to the interests of investors. Where do I get a Medallion Signature Guarantee? Companies also need to demonstrate that they are in compliance with all federal and state reporting standards. OTCQX is the top tier of the three marketplaces for trading over-the-counter stocks provided and operated by the OTC Markets Group. For More Information See: OTCQB Eligibility Requirements. %PDF-1.6 % Additionally, uplisting to a larger exchange allows Business Warrior stock to be traded on a vast scale, which opens the market for new investors to give us ample support. A. The company must cooperate with any securities regulators, whether in its country of domicile or in the U.S., including self-regulatory organizations; Blue Sky Manual Exemption Companies must either properly qualify for a blue sky manual exemption or be subject to and current in its Exchange Act reporting requirements; Retention and Advice of PAL Companies must have a. List of all officers, directors and control persons (control persons are beneficial owners of more than five percent (5%) of any class of the Companys equity securities), including name, address and percent of shares owned. Petro Oil Reviews, 658 0 obj <>/Filter/FlateDecode/ID[<479A9D10D7829646A092F1B56BA304AA>]/Index[635 36]/Info 634 0 R/Length 110/Prev 312362/Root 636 0 R/Size 671/Type/XRef/W[1 3 1]>>stream Alternative Reporting Standard: The reporting standard for a Company incorporated in the U.S. that is not an SEC Reporting Company, Bank Reporting Company, Regulation A Reporting Company or International Reporting Company, and that makes disclosure available through the OTC Disclosure & News Service pursuant to the. The Rule is automatic for foreign issuers that meet its requirements. They gained on average 20% on the six months prior to uplist, on average another 10% to new 52 week highs and currently trade at 29% . What is a Form 10 Registration Statement? If no attorney assisted in putting together the disclosure, the Company must identify the person or persons who prepared the disclosure and their relationship to the company. Stocks trading in the OTCQB havemany of the same protections as more established, larger stocks. Advertising Ideas for Beauty Salons and Med Spas, Five Reasons Why You Need a Landing Page for Ads, How to Target Facebook Ads to Fans of a Competitor Page, Business Warrior Bolsters Team to Support Record-Breaking Growth. Timelines: In most cases the complete listing process will take 60-90 days, . 3), Step-by-Step Guide to Creating Audience Avatars for Your Acupuncture Clinic, How to Set an Effective Facebook Ad Budget, Business Warrior Secures $25 Million Equity Line of Credit from Keystone Capital, How to Choose the Best Keywords for Your Holistic Health Clinic, Business Warrior Acquires Award-Winning Marketing Agency, Helix House, How to Ask Your Med Spa Clients for Good Reviews, Business 101: Turning an Online Lead into a Customer (Pt. Have its securities listed on a Qualifying Foreign Stock Exchange for a minimum of the preceding 40 calendar days; provided, however, that in the event the company's securities are listed on a non-U.S. exchange that is not a Qualified Foreign Stock Exchange, then at the company's request and subsequent to the company providing OTC Markets Group Bank Reporting Companies must file, through the OTC Disclosure & News Service, all reports required to be filed with the Companys Banking Regulator including Call Reports and audited Annual Reports. East Coast Adoption Sandwich Ma, Contact us now. I` H2vnI ) Outbound Lead Generation Strategies for Beginners and Small Businesses, Business Warrior Reports 1,331% Annual Financial Growth, Getting SEO Right the First Time for Small Businesses, Business Warrior Announces Launch of New Products, Plans for 2022, The Top 3 Ways Google Ads Can Grow/Build Your Business, Business Warrior To Host Virtual Shareholder Call on Traction, Results and Recent, Business Warrior Announces Solution to Small Business Lending Concerns, Lead Generation Services Every Small Business Should Have, Business Warrior Announces Selection of Auditing Firm, Business Warrior & DeskTeam360 Partnership Brings Affordable Web Development. 1: Earnings The company must have aggregate pre-tax earnings in the prior three years of at least $11 million, in the previous two years at least $2.2 million, and no single year in. Pink sheets are listings for stocks that trade over-the-counter (OTC) in the U.S. rather than on a major stock exchange. This time frame is variable and may be shortened considerably, if the application raises no issues and the company responds to staff comments. 2022 ANTHONY L.G., PLLC . OTCMarkets processes the filings it receives in the order that they were received. But yes! dUrrt7/$JTZV(GeC-h4tBF= 2 a_WV`jF+*P}vdK'- Tk{}@hxuH0 s_,Bp&{Gc(XJ0gtlqAjd>9H" 5Ff 2V*+@4 tq@RD0fbI T{l@_1{! bIpJ ebpn*{ ,9|2 2021 is expected to be a huge year for penny stocks. OTC Pink is the lowest tier of the three marketplaces for trading over-the-counter stocks provided and operated by the OTC Markets Group. Uplisting refers to the practice of elevating a company from a secondary exchange to a main one like the NYSE or NASDAQ. OTC Markets Group logo. We even store completed forms and supporting documents so they will be readily accessible for future reference. Over the counter securities are traded on OTC Markets, through an online alternative trading system (ATS) that includesbroker-dealers and market makers. The approval process and compliance review can take up to 3-4 weeks after submission of the application. Timely Disclosure of Material News Releases/Developments An OTCQB Company is expected to release quickly to the public any news or information which might reasonably be expected to materially affect the market for its securities. All OTCQB companies will be required to pay an annual fee of $10,000. Upon application for quotation on the OTCQX, Companies must pay an initial non-refundable fee of $5,000. Somer G. Anderson is CPA, doctor of accounting, and an accounting and finance professor who has been working in the accounting and finance industries for more than 20 years. (ii)the issuer has published, in English, on its website or through an electronic information delivery system generally available to the public in its primary trading market (such as the OTC Market Group website), information that, since the first day of its most recently completed fiscal year, it (a) has made public or been required to make public pursuant to the laws of its country of domicile; (b) has filed or been required to file with the principal stock exchange in its primary trading market and which has been made public by that exchange; and (c) has distributed or been required to distribute to its security holders.
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