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. ALL RIGHTS RESERVED. Real Brands completed the OTC's requirements to qualify for uplisting to Nasdaq OTCQB status as follows: Form 10 filed and approved Compliant with two years of audited financials Became a fully. Exchange Act Rule 12g3-2(b) permits foreign private issuers to have their equity securities traded on the U.S. over-the-counter market without registration underSection 12of the Exchange Act (and therefore without being subject to the Exchange Act reporting requirements). Officers and directors of the company are responsible for compliance and are solely responsible for the content of information; Compliance with Laws OTCQX quoted companies must maintain compliance applicable securities laws of its country of domicile and application U.S. federal and state securities laws. OTCQB Certification. 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. Eligibility Criteria The International company must meet the above eligibility requirements as of the end of each most recent fiscal year; Compliance with Rules OTCQX quoted companies must maintain compliance with the OTCQX rules, including disclosure requirements. Weird Things is proudly powered by 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. Requirements for Bank Reporting Companies. Pink Sheets: Listings for Stocks That Trade Over-the-Counter. 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? 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. Forward-looking statements are neither historical facts nor assurances of future performance. As a verified market with efficient access for U.S. investors, OTCQB helps companies build shareholder value with the goal of enhancing liquidity and achieving a fair valuation. How long does it take for my company to join OTCQX or OTCQB? The approval process and compliance review can take up to 3-4 weeks after submission of the application. Bank reporting companies must meet all the same requirements as all other OTCQB companies except for the SEC reporting requirements. Do Landing Pages Improve Your Google Ranking? Comparing Stock Trades on Pink Sheets and the OTCBB - Investopedia An OTCQB Company should also act promptly to dispel unfounded rumors which result in unusual market activity or price variations. Uplisting Power | Seeking Alpha A company incorporated in the U.S. or Canada must assign a registered. We are extremely proud to have BZWR trading on the OTCQB market, said Rhett Doolittle, CEO of Business Warrior. 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. 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. 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. 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. endstream endobj startxref OTC Link is registered with the Securities and Exchange Commission (SEC) as a broker-dealer and also as an alternative trading system (ATS). The filing of the initial disclosure is a precondition to acceptance of an application for quotation. As with exchange-traded securities, investors trading OTC securities are protected from an unethical broker-dealers illegal practices by the same SEC/FINRA rules such as best execution, limit order protection, firm quotes, and short position disclosure. hbbd```b``kA$S2X"@$d. The OTCQB is recognized by the Securities and Exchange Commission as an established public market providing public information for analysis and value of securities. OTC Markets Listing Requirements - The Anthony L.G., PLLC Advantage The OTCQX has two tiers of quotation for U.S. companies: (i) OTCQX International Premier; and (ii) OTCQX International. For the reverse split, the complexity arises because a reverse split raises numerous legal and business issues. The initial disclosure includes: All companies will be required to file an initial and annual certification on the OTC Markets website, signed by the CEO and/or CFO, stating: An application to OTCQB can be delayed or denied at OTC Markets sole discretion if they determine that admission would be likely to impair the reputation or integrity of OTC Markets Group or be detrimental to the interests of investors. In meeting the eligibility requirements of the OTCQB, Business Warrior has demonstrated that it is current in its financial reporting with the Securities and Exchange Commission (SEC); has passed a minimum bid price test; maintained audited financials through a PCAOB-registered firm; and will undergo company verification and management certification on an annual basis. Week 1. International issuers on the OTCQX must meet specified eligibility requirements. Initial disclosure documents include: (i) SEC reports if the company is subject to the Exchange Act reporting requirements; or (ii) if the company is not subject to the SEC reporting requirements, all information required to be made public pursuant to Exchange Act Rule 12g3-2(b) for the preceding 24 months, which information must be posted in English. The limits are lower for the other OTC markets. How Long Does It Take for a Website to Show Up on Google? 0 R F ?+G#yO1&2aqdF )BUe"8MO ]K1XZ40U1brD3@ %qO Standard No. What Is Tether Printing, OTC Markets may require additional conditions or undertakings prior to admission. 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. In fact, a company's up-listing event is sometimes referred to as its second IPO. 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. As it has no minimum financial standards, the OTCQB often includes shell companies, penny stocks, and small foreign issuers. Officers and directors of the Company are responsible for compliance with the ongoing requirements and the content of all information. Delisted From a Major Exchange When a company faces tough times and is unable to meet the requirements for continued listing on. (i) Its annual report, including or accompanied by annual financial statements; (ii) Interim reports that include financial statements; (iv) All other communications and documents distributed directly to security holders of each class of securities to which the exemption relates. SEC Reporting Companies must file all reports required to be filed on EDGAR. Have U.S. $2 million in total assets as of the most recent annual or quarter end; As of the most recent fiscal year end, have at least one of the following: (i) U.S. $2 million in revenues; (ii) U.S. $1 million in net tangible assets; (iii) U.S. $500,000 in net income; or (iv) U.S. $5 million in global market capitalization; Meet one of the following penny stock exemptions under. Where Are The Raptors Playing Tonight, The following is a summary of the ongoing responsibilities for OTCQX International quoted securities: A company may be removed from the OTCQX if, at any time, it fails to meet the eligibility and continued quotation requirements subject to a 30-day notice and opportunity to address them. International issuers on the pinksheets are not required to be reporting with the SEC nor are they required to qualify for the Rule 12g3-2(b) exemption from SEC registration for foreign private issuers. James Chen, CMT is an expert trader, investment adviser, and global market strategist. In addition, OTCQB entities must meet minimum price standards, file annual reports and pay annual fees, but do not undergo additional quality review. Formed in 2014, Business Warrior uses next-generation machine-learning and native software to make conversion marketing and growth funding accessible for small business owners. 1 of 3), Business Warrior Launches Small Business Lending Solution, How to Perfect Your Local SEO to Deal with Googles Algorithm Updates, Advertising Ideas for Home Cleaning Services, Three Things that Make a Great Homepage Design, Business Warrior Announces $3M Addition to Balance Sheet and Several Key Updates. OTC Markets Group Inc. operates financial markets for 11,000 U.S. and global . Inquiries of a technical nature are always encouraged. %%EOF %%EOF Better For You Wellness Announces Application to Uplist to OTCQB Business Warrior Announces Uplisting to OTCQB Venture Market How long does it usually take to list on the NASDAQ? (PRNewsFoto/OTC Markets Group). OTCQB Listing Requirements - The Anthony L.G., PLLC Advantage Inquiries of a technical nature are always encouraged. The OTCQB market offers early-stage and developing companies access to an exchange with lower cost and complexity than the OTC Pink exchange. The Basics of a Successful Email Marketing Campaign, Business Warrior Partners with Nationally Recognized Website Builder, Perfect Fall Advertising Ideas For Any Business, Creating a Breakthrough Brand to Spark the Success of Small Businesses, Business 101: Successful Free Advertising Strategies for Small Businesses, Low-Cost Custom Website Development Platforms For Small Businesses, Post-Shutdown Solutions for the Med Spa Industry, Business Warrior Continues Record-Breaking Revenue Performance, Small Business 101: How to Advertise on Google, Business Warrior Leaps Ahead From Strong March Revenue, Short staffed and under stress: Small business tips for post-shutdown success, Business Warrior Issues Business Update on Revenue Performance, Expectations for 2021, Business Warrior CEO Discusses Strategy and Scalability in Audio Interview with SmallCapVoice.com, Business Warrior Announces Record Breaking Second Quarter Results, Business Warrior Ramping Up After Fundraising Success, Business Warrior Featured in Phoenix Business Journal Highlighting New PPP Application, Business Warrior Lands Major Banking & Payments Relationships, Business Warrior Positioned for Massive Growth in 2021, Getting Found Online as a Service Area Business, Remarketing is the #1 untapped tool for small businesses, Business Warrior Q1 financial results since merger, Get more reviews with these 5 effective (and free) tips, Business Warrior Recognized for Executive Thought-Leadership during COVID, Business Warrior discovers major problem facing over 90% of businesses reopening after COVID, Responding to Negative Reviews (With Examples), Tips to Improve Your Website Speed and Performance, Business Warrior Sees 62% Subscriber Increase; Business Software Recommended by Inc Magazine for COVID-19 Response, Business Warrior Offers Free Marketing and Advertising Software to Small Businesses During Coronavirus Outbreak, COVID-19 Small Business Preparation Guide, Leader in Small Business Software Announces New Technology and Sales Partners, 5 expert tips and ideas to prepare your small business for the holidays, Small Business Software Business Warrior Arms Owners With Actionable Marketing Data, Small Business Owners Survey Reveals their Deepest Secrets, Franchise Marketing Software Business Warrior, The secret to selling merchant accounts without pitching savings Recording and Resources, 5 Reasons to Participate in Small Business Saturday, 7 Key Characteristics in Successful Small Businesses, The 2017 Blueprint of Successful Business Owners, World Class Marketing: Balance content and advertising. OTCQX provides an expedited application process for ADRs and foreign ordinary securities of companies traded on a Qualifying Foreign Stock Exchange. All international companies that are quoted on the OTCQX must submit an application and pay an application fee. 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. A company may voluntarily withdraw from the OTCQB with 24 hours notice. The Failure of Dated Lending Technology: Why Innovation is Key to Success, Top 10 Ways to Skyrocket Lending Profitability in 2023, Revolutionizing Auto Financing: Introducing the Next Generation of Modern Lending with PayPlan, Conquering the Challenges of 2022: Business Warriors Year-End Review. Companies also need to demonstrate that they are in compliance with all federal and state reporting standards. Our corporate and securities law firm is constantly evolving in order to stay abreast of regulatory changes and trends in the industry. Companies listed here report to a U.S. regulator such as the SEC or FDIC and must follow standards to improve transparencythose who are most likely to be associated with stock promoters and other shady operators will be excluded. Derplicit 2 yr. ago Could take up to 4 weeks. PDF UPLISTING MONTHLY - OTC Markets 0 OTC Markets Group may, at any time and in its sole and absolute discretion, determine that the Company has undergone a Change in Control Event. Include the firm and attorney name if outside counsel, or name and title if internal counsel. Als u uw keuzes wilt aanpassen, klik dan op 'Privacyinstellingen beheren'. Satisfy all of the eligibility requirements for OTCQX International set forth above; As of its most recent fiscal year end, (i) have (a) revenue of U.S. $100 million; (b) global market capitalization of U.S. $500 million, (c) aggregate cash flow for the three preceding years of U.S. $100 million; and (d) minimum cash flow in each of the two preceding years of $25 million; or (ii) have (a) revenue of U.S. $75 million and (b) global market capitalization of $750 million. Investopedia does not provide tax, investment, or financial services and advice. 2021 is expected to be a huge year for penny stocks. By Hamilton & Associates Law Group, P.A., Florida. Entities that do not meet the requirements of either OTCQX or OTCQB will be quoted on the OTC Pink. Confirmation that the Company is current in its SEC reporting obligations and has filed all reports with the SEC, that all financial statements have been prepared in accordance with U.S. GAAP, and that the auditor opinion is not adverse, disclaimed or qualified; International Companies (i) Companies subject to the Exchange Act reporting requirements must be current in such reports; (ii) A company that is not an SEC Reporting Company must be current and fully compliant in its obligations under Exchange Act Rule 12g3-2(b), if applicable, and shall have posted 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) for the preceding 24 months (or from inception if less than 24 months); and all financial statements have been prepared in accordance with U.S. GAAP and that the auditor opinion is not adverse, disclaimed or qualified; Verification that the Company profile is current, complete and accurate; The companys reporting standing (i.e., whether SEC reporting, bank reporting or international reporting) and briefly describing the registration status of the company; If the Company is an International Company and relying on 12g3-2(b), that it is current in such obligations; That the company is current in its reporting obligations to its regulator and that such information is available either on EDGAR or the OTC Markets website; States the law firm and/or attorneys that assist the company in preparing its annual report or 10-K; Confirms that the company profile on the OTC Markets website is current and complete; Identifies any third-party providers engaged by the Company, its officers, directors or controlling shareholders, during the prior fiscal year and up to the date of the certification, to provide investor relations services, public relations services, stock promotion services or related services; Confirms the total shares authorized, outstanding and in the public float as of that date; and. 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). Business 101: Adding Extra Value to Convert Leads into Customers (Pt. 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. Man Capital Corporation, Designate the Companys securities as OTCQB traded securities on OTC Markets Groups websites, market data products, and broker-dealer platforms. 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 In any event, the independence requirement must be satisfied within one year of the Company joining OTCQB. Law Firm Website: https://www.securitieslawyer101.com. OTC Markets Group will review the Application and Agreement pursuant to Section 1.4 of these of these OTCQB Standards. OTCQB (The Venture Market): Definition in Stocks and Benefits An international company must post its initial disclosure documents on the OTC Markets website within 90 days of submission of its application to quote on the OTCQX and such posting must be confirmed with a notice by the company PAL. endstream endobj 636 0 obj <. Entitle Level 2 Quote Display service for the Companys securities on OTC Markets Groups websites and the Companys corporate websites. The Company must login to. Smaller Reporting Companies (SRCs) and (EGCs), SEC Statues, Rules, Regulations and Schedules, Public Company SEC Reporting Requirements. Regain compliance with the requirement by the earlier of its next annual shareholders meeting or the date that is one year from the occurrence of the event that caused the noncompliance. Our corporate and securities law firm is constantly evolving in order to stay abreast of regulatory changes and trends in the industry. how long does it take to uplist to otcqb - Weird Things GUIDE TO JOINING THE OTCQX OR THE OTCQB MARKETS FOR CANADIAN - Dorsey In order to move a company from over-the-counter market to a major exchange, a number of conditions must be met to being listed on the NYSE or Nasdaq. The approval process and compliance review can take up to 3-4 weeks after submission of the application. Special Considerations Stocks trading in the OTCQB have many of the same protections as. In addition, Companies must pay an annual non-refundable fee of $15,000. To be eligible, companies must be current in their reporting, undergo annual verification and certification, meet a $0.01 bid test, not be in bankruptcy, have at least 50 beneficial shareholders, each owning at least 100 shares, and a public float in excess of 10% of the total shares outstandingsome flexibility is offered with regard to the latter requirement. 670 0 obj <>stream Sponsor Qualifications. Banks must remain current in their banking reporting requirements; All OTC Markets posting and reports must be timely filed 45 days following the end of a quarter or 90 days following the end of the fiscal year for US issuers and as soon as practicable but no later than 6 months following the end of the fiscal year end or 60 days following the end of a quarter for International companies; where applicable, file a notice of late filing allowing for 5 extra days on a quarterly report and 15 extra days on an annual report; All OTCQB companies will be required to post annual certifications on the OTC Markets website; All companies are required to comply with all federal, state, and international securities laws and must cooperate with all securities regulatory agencies; All companies must respond to OTC Markets inquiries and requests; All companies must maintain an updated company profile on the OTC Markets website and must submit a Company Update Form at least once every six months; All Companies must file interim disclosures in the event the Company undergoes a reverse merger or change of control and make new updated certifications and disclosure related to the new business and control persons; All OTCQB companies must meet the minimum bid price of $.01 per share at the close of business of at least one of the previous thirty (30) consecutive calendar days; in the event that the price falls below $.01, the company will begin a grace period of 180 calendar days to maintain a closing bid price of $.01 for ten consecutive trading days; Use an SEC registered transfer agent and authorize the transfer agent to provide information to OTC Markets about the Company securities, including but not limited to, shares authorized, shares issued and outstanding, and share issuance history.