A company also has to meet a minimum bid price of $0.10 per share during the preceding 30 days. Manage your cap table, view shareholder reports, shareholder meeting voting, transactions, update information securely. This press release and the offering materials may contain forward-looking statements and information relating to, among other things, the company, its business plan and strategy, and its industry. Newly applying entities must pay an initial application fee of $2,500, which fee is waived for existing OTCQB entities. Q. Have an Audit Committee, a majority of the members of which are Independent Directors. Scumpop 2 yr. ago So over 90 days isn't a good sign? What is a Form 10 Registration Statement? Exchange Act Rule 12g3-2(b) Compliance. The company and its PAL will receive confirmation of the application submittal within approximately five business days. Inquiries of a technical nature are always encouraged. Adidas Predator Accelerator Zidane. But yes! It doesn't take 90 trading days with a bid above $4 to uplist to Nasdaq. 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. View shareholder meeting materials and vote your shares securely. Founding Partner Revenues steadily grew from $1.7 million in 2014 to $34.5 million in 2018 but for this fiscal year revenues will be about the same as for 2018. PHOENIX (August 25, 2022) - Business Warrior Corp. (OTCQB: BZWR), the source for success and long-term growth for small businesses, is pleased to announce its successful uplisting from the OTC Pink Market to the OTCQB Venture Market (the "OTCQB"), effective August 25, 2022. Business Warrior will continue to trade under the ticker symbol . Meet a minimum closing bid price on OTC Markets of $.01 for each of the last 30 calendar days; In the event that there is no prior public market and a 15c2-11 application has been submitted to FINRA by a market maker, OTC Markets can waive the bid requirement at its sole discretion; In the event that a Company is a seasoned public issuer that completed a reverse stock split within 6 months prior to applying to the OTCQB, the Company must have a post reverse split minimum bid price of $.01 at the close of business on each of the 5 consecutive trading days immediately before applying to the OTCQB; In the event the Company is moving to the OTCQB from the OTCQX, it must have a minimum closing bid price of $.01 for at least one (1) of the 30 calendar days immediately preceding; Companies may not be subject to bankruptcy or reorganization proceedings the Companys application; Either be subject to the reporting requirements of the Securities Exchange Act of 1934 and be current in such reporting obligations or, if an international issuer, 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 be a bank current in its reporting obligations to its bank regulator; Not be in bankruptcy or reorganization proceedings; Be duly organized, validly existing and in good standing under the laws of each jurisdiction in which it is organized and does business; Submit an application and pay an application and annual fee; Maintain a current and accurate company profile on the OTC Markets website; 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; and. The information required to be published electronically under paragraph (b) of this section is information that is material to an investment decision regarding the subject securities, such as information concerning: At a minimum, a foreign private issuer shall electronically publish English translations of the following documents: OTCQX Rules for International Companies Requirements. Our corporate and securities law firm is constantly evolving in order to stay abreast of regulatory changes and trends in the industry. PAL Letter Within 225 days of each fiscal year end and after the posting of the companys annual report, every company must submit an annual PAL letter. 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. 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. Limbach Holdings, Inc. (NASDAQ: LMBH), with estimated revenues of approximately $400 million in 2016, is an integrated building systems provider managing all components of mechanical, electrical, plumbing and control systems, from system design and construction through performance and maintenance. Weird Things is proudly powered by 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. The 90-day misconception comes from the fact that some companies that are not yet profitable and that lack an adequate. For More Information See: OTCQB Eligibility Requirements. An OTCQB Company should act promptly to dispel unfounded rumors which result in unusual market activity or price variations. OTC Markets Group Inc. is the owner and operator of the largest U.S. electronic quotation and trading system for over-the-counter (OTC) securities. This time frame is variable and may be shortened considerably, if the application raises no issues and the company responds to staff comments. Officers and directors of the Company are responsible for compliance with the ongoing requirements and the content of all information. 2517 0 obj <> endobj Bank Reporting Standard: The reporting standard for a U.S. bank, U.S. bank holding company, U.S. thrift, U.S. thrift holding company or U.S. financial institution that is required to file period reports with its applicable Bank Regulator. 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. It was created in 2010 and consists mainly of early-stage and developing U.S. and international companies that are not yet able to qualify for theOTCQX but are not as speculative as the lowest-tier Pink Sheets. 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. j0_Ut2%z. Banks Reporting Companies must have filed, through the OTC Disclosure & News Service, all financial reports required to be filed with their Banking Regulator for the preceding two years, including but not limited to audited financial statements for fiscal year ends, or as long as it has been in existence, if less than two years. Over-the-Counter (OTC) trades for securities are transacted via a dealer network as opposed to on a centralized exchange such as NYSE. OTCQX is the top tier of the three marketplaces for trading over-the-counter stocks provided and operated by the OTC Markets Group. This compensation may impact how and where listings appear. 0 NEW YORK , Oct. 14, 2020 (GLOBE NEWSWIRE) -- Silo Pharma, Inc. (OTCQB: SILO) a developmental stage biopharmaceutical company focused on the use of psilocybin as a therapeutic, today announced its successful uplisting from the OTC Pink Market to the OTCQB Fees. 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. 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. For the reverse split, the complexity arises because a reverse split raises numerous legal and business issues. PQ If so, how long ago did the reverse merger take place? OTC Markets Group Inc. operates financial markets for 11,000 U.S. and global . (vii) Transactions with directors, officers or principal security holders. 2021 is expected to be a huge year for penny stocks. International issuers on the OTCQB must either be fully reporting and current in their SEC reporting obligations or qualify for the Rule 12g3-2(b) exemption from SEC registration for foreign private issuers. 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. SponsorsOne Management Announces It Will Be Applying To Uplist To OTCQB. James Chen, CMT is an expert trader, investment adviser, and global market strategist. Similar to other stock exchanges, there are a number of requirements that companies need to meet before they can get traded on the OTC. After the initial disclosure has been posed, the company must submit a PAL Letter of Introduction to OTC Markets Group. Designate the Companys securities as OTCQB traded securities on OTC Markets Groups websites, market data products, and broker-dealer platforms. Lees ons privacybeleid en cookiebeleid voor meer informatie over hoe we uw persoonsgegevens gebruiken. OTC Markets Group logo. To view a full listing of requirements, click here. The issuer must not be subject to any Bankruptcy or reorganization proceedings. 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. pWE .EGG``R@6YA `y[M9 - The goal of the OTCQB is to help companies build shareholder value by enhancing liquidity and achieving fair valuation. OTCQX provides an expedited application process for ADRs and foreign ordinary securities of companies traded on a Qualifying Foreign Stock Exchange. 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. Love Love Shoes, OTCMarkets processes the filings it receives in the order that they were received. Pinksheets are available to ADRs and foreign ordinary securities of companies traded on a Qualifying Foreign Stock Exchange. 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? Goldrich Mining advised that its common shares commenced trading under the ticker symbol "GRMC" on the OTCQB effective March 19, 2021. 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. Companies applying for sale on the OTC also need to show that they are not a penny stock, not a shell company, and not subject to any active reorganization or bankruptcy proceedings that would prohibit listing. There are two main reasons that companies up-list. OTC Link enables broker-dealers to not onlypost and disseminate their quotes, but also negotiate trades through the systems electronic messaging capability. Do Landing Pages Improve Your Google Ranking? 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. A company may appoint a new PAL at any time provided they maintain a PAL at all times. endstream endobj startxref Require the Company to confirm, clarify or modify any information contained in the OTCQB Application Materials; Require the Company to provide a further undertaking, including the submission of a Personal Information Form for any executive officer, director, or beneficial owner of 5% or more of a class of the Companys securities, or fulfill a further condition, prior to admission; Delay admission pending the completion of further due diligence. Man Capital Corporation, 670 0 obj <>stream These are the OTCQX, the OTCQB, and the OTC Pink. 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. 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 . 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. SEC Reporting Companies must have filed all reports required to be filed on, Regulation A Reporting Companies must have filed all reports required to be filed on. 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(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. OTC Link is registered with the Securities and Exchange Commission (SEC) as a broker-dealer and also as an alternative trading system (ATS). Greene Concepts Announces its Application to Uplist to the OTCQB Venture Market Marion, North Carolina-- (Newsfile Corp. - February 10, 2021) - Greene Concepts Inc. (OTC Pink: INKW) is pleased to announce it has begun the application process for moving off the OTC Pink Sheets and uplisting to the OTCQB Venture Marketplace. They are based on the current beliefs of, assumptions made by, and information currently available to the companys management regarding the future of the companys business, future plans and strategies, anticipated events and trends, the economy and other future conditions. Entries (RSS) Klicken Sie auf Alle ablehnen, wenn Sie nicht mchten, dass wir und unsere Partner Cookies und personenbezogene Daten fr diese zustzlichen Zwecke verwenden. We are extremely proud to have BZWR trading on the OTCQB market, said Rhett Doolittle, CEO of Business Warrior. They were already listed on the OTCQB in the past so it may not take as long. View your stock holdings, employee plan and options, transactions, and update contact information securely. (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. Where do I get a Medallion Signature Guarantee? How to Improve Quality Score for Google Ads, How to Reach the Right Audience on TikTok, Business Warrior Acquires FinTech SaaS Company, Alchemy Technologies, Business Warrior Announces Partnership with Bottom Line Savings, The Two Most Valuable Places to Advertise Your Permanent Makeup Clinic. 635 0 obj <> endobj Columbus, Ohio--(Newsfile Corp. - December 9, 2021) - Better For You Wellness, Inc. (OTC Pink: BFYW) ("Better For You Wellness" or the "Company"), an Ohio-based company focused on the rapidly . 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. How to Set an Effective Google Ads Budget. 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. Pink Sheets: Listings for Stocks That Trade Over-the-Counter. Moreover, the application may be denied if, in the opinion of OTC Markets, trading would be likely to impair the reputation or integrity of OTC Markets Group or be detrimental to the interests of investors. The over-the-counter or OTC market is a decentralized market where securities not listed on major exchanges are traded directly by a network of dealers. 2555 0 obj <>stream What Was the Over-the-Counter Bulletin Board (OTCBB)? The fee for listing on OTCQB markets is $14,000 per annum, with a one-time application fee of $5,000. SEC Reporting Companies must have filed all reports required to be filed on, Regulation A Reporting Companies must have filed all reports required to be filed on. R F ?+G#yO1&2aqdF )BUe"8MO ]K1XZ40U1brD3@ %qO The corporate finance landscape is perpetually changing and our attorneys adapt just as quickly. %%EOF Instead, bank reporting companies are required to post their previous two years and ongoing yearly disclosure that was and is filed with the companys bank regulator, on the OTC Markets website. ALL RIGHTS RESERVED. Uplisting refers to the practice of elevating a company from a secondary exchange to a main one like the NYSE or NASDAQ. Over the counter securities are traded on OTC Markets, through an online alternative trading system (ATS) that includesbroker-dealers and market makers. Confirm that the securities are currently listed on a Qualified Foreign Exchange and have not been delisted, removed or suspended from the Qualified Foreign Exchange. Hamilton & Associates Law Group, P.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. . What is a Form S-8 Registration Statement? Entities that do not meet the requirements of either OTCQX or OTCQB will be quoted on the OTC Pink. The Rule provides that an issuer is not required to be subject to the Exchange Act reporting requirements if: (i)the issuer currently maintains a listing of its securities on one or more exchanges in a foreign jurisdiction which is the primary trading market for such securities; and. The OTC Pink has slightly lower requirements but is also seen as the most risky market for investors. 2021 is expected to be a huge year for penny stocks. The only exchange fraught with more danger than the OTCBB is the pink sheets. Contact us now. 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. See my blogHEREfor information on OTCQB eligibility requirements for both U.S. and international issuers. 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. 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. Toronto Fc Adidas Men's 2020 Authentic Travel Jacket, 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. 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. Step 1: Determine Eligibility Audited annual financials prepared in accordance with U.S. GAAP by a PCAOB auditor. Fees. International issuers on the OTCQX must meet specified eligibility requirements. A foreign entity must post two years historical and ongoing quarterly and annual reports, in English, on the OTC Markets website which comply with SEC Rule 12g3-2(b). Those looking to purchase shares of OTC securities often face higher fees and volatility rates, but selling OTC shares can also be a way for businesses to raise capital. It generally takes 4-6 weeks to process a listing application. 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. Are Facebook Ads Worth it For Small Businesses? OTC Markets Group Inc. operates financial markets for 11,000 U.S. and global . Companies can jump from the OTC market to a standard exchange as long as they. What Is the Regulation SHO Short Seller Rule? 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. 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. The Company must file, through the OTC Disclosure & News Service, an OTCQB Certification signed by either the CEO or CFO stating the following: The provision under which the Company is registered with the, The Company is current in its reporting obligations as of the most recent fiscal year end and any subsequent reporting periods and that such information has been filed either on. 0 U kunt uw keuzes te allen tijde wijzigen door te klikken op de links 'Privacydashboard' op onze sites en in onze apps. 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. 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. and Comments (RSS). Special Considerations Stocks trading in the OTCQB have many of the same protections as. that do not qualify for OTCQX seeking inclusion on OTCQB. Business Warrior provides software and services to small businesses focused on growing their business. 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. Instead of providing an order matchmaking service likethe NYSE, these dealers carry inventories of securities in order to facilitate any buy and sell orders. Based on available information, the OTCQB Sponsor has a reasonable belief that the Company is in compliance with Exchange Act Rule 12g3-2(b) or, if the Company is not in compliance with Exchange Act Rule 12g3-2(b), the OTCQB Sponsor has a reasonable belief that the Company is not required to register under Exchange Act Section 12(g) and is current and fully compliant with the obligations of a Company relying on the exemption from registration provided by Exchange Act Rule 12g3-2(b). This is one of the most important and fundamental purposes of the OTCQB market.