An OTCQB Company should act promptly to dispel unfounded rumors which result in unusual market activity or price variations. Officers and directors of the Company are responsible for compliance with the ongoing requirements and the content of all information. What Is the Regulation SHO Short Seller Rule? How Long Does it Take To Get an OTC Listing? - Colonial Stock What Is A Confidential Registration Statement? Weitere Informationen ber die Verwendung Ihrer personenbezogenen Daten finden Sie in unserer Datenschutzerklrung und unserer Cookie-Richtlinie. These companies are often looking to expand, and increase market share. Sie knnen Ihre Einstellungen jederzeit ndern, indem Sie auf unseren Websites und Apps auf den Link Datenschutz-Dashboard klicken. The company and its PAL will receive confirmation of the application submittal within approximately five business days. In addition, Companies must pay an annual non-refundable fee of $15,000. The OTC Markets is broken up into three separate tiers. 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). 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 The offers that appear in this table are from partnerships from which Investopedia receives compensation. 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. Instead of providing an order matchmaking service likethe NYSE, these dealers carry inventories of securities in order to facilitate any buy and sell orders. 670 0 obj <>stream 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. 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. Pink sheets are listings for stocks that trade over-the-counter (OTC) in the U.S. rather than on a major stock exchange. Submit an OTCQB Annual Certification confirming the accuracy of the current company profile and providing information on officers, directors and controlling shareholders. 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. For More Information See: OTCQB Eligibility Requirements. To be eligible to be quoted on the OTCQX International, companies must: B. How Long Does It Take To Get a NYSE Listing - Colonial Stock If so, how long ago did the reverse merger take place? It generally takes 4-6 weeks to process a listing application. Application to the OTCQX for International Companies. James Chen, CMT is an expert trader, investment adviser, and global market strategist. 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. Special Considerations Stocks trading in the OTCQB have many of the same protections as. GUIDE TO JOINING THE OTCQX OR THE OTCQB MARKETS FOR CANADIAN - Dorsey We are extremely proud to have BZWR trading on the OTCQB market, said Rhett Doolittle, CEO of Business Warrior. Derplicit 2 yr. ago Could take up to 4 weeks. A company needs to file certain regulatory disclosures with the SEC or OTC before applying for acceptance onto the OTC. 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. Delisted From a Major Exchange When a company faces tough times and is unable to meet the requirements for continued listing on. Bank reporting companies must meet all the same requirements as all other OTCQB companies except for the SEC reporting requirements. 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 OTCQB market offers early-stage and developing companies access to an exchange with lower cost and complexity than the OTC Pink exchange. Uplisting refers to the practice of elevating a company from a secondary exchange to a main one like the NYSE or NASDAQ. International issuers on the OTCQX must meet specified eligibility requirements. MONTREAL, QC / ACCESSWIRE / January 27, 2021 / Sunshine Biopharma Inc. (OTC PINK:SBFM), a pharmaceutical company focused on the research, development and commercialization of oncology and antiviral drugs, today announced that it has successfully completed and submitted the application to uplist to the OTCQB.While the Company is currently a fully reporting issuer trading on . 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 . Cap table management & personalized service since 1987. %PDF-1.6 % 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. 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. PDF OTCQB Application Guide for U.S. Companies and U.S. Banks Business Warrior is well on its way to becoming a global brand synonymous with small business success., Business Warrior is a SaaS company focused on helping small businesses solve two of the biggest challenges to owning and operating a business: customer acquisition and access to funding. 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. 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). The middle tier of OTC Markets OTCQB is known as The Venture Market. 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 . It doesn't take 90 trading days with a bid above $4 to uplist to Nasdaq. 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. The OTC Pink has slightly lower requirements but is also seen as the most risky market for investors. 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. OTCQB (The Venture Market): Definition in Stocks and Benefits 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. The Rule is automatic for foreign issuers that meet its requirements. Issuers that make no effort to join the OTCQX or OTCQB market, and that are not listed on a U.S. national securities exchange, may find their shares quoted on the Pink market, because broker-dealers are permitted to transact in this market without the involvement of the issuer. (i) Results of operations or financial condition; (iii) Acquisitions or dispositions of assets; (iv) The issuance, redemption or acquisition of securities; (vi) The granting of options or the payment of other remuneration to directors or officers; and. (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. The filing of the initial disclosure is a precondition to acceptance of an application for quotation. The answer to the timing question depends upon whether the company seeking to uplist is the product of a reverse merger. U.S. OTCQB companies will be required to remain current in their SEC reporting obligations. 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. Week 1. 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. Where do I get a Medallion Signature Guarantee? Contact us now. By clicking Accept All Cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. Uplistings, explained (+ examples of uplisted stocks) - Public 0 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. PDF UPLISTING MONTHLY - OTC Markets 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. 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 BZWR.. 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. Companies can jump from the OTC market to a standard exchange as long as they. View your stock holdings, employee plan and options, transactions, and update contact information securely. %%EOF U kunt uw keuzes te allen tijde wijzigen door te klikken op de links 'Privacydashboard' op onze sites en in onze apps. Identify any law firm and attorney(s) that acted as the Companys primary legal counsel in preparing its most recent annual report. 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. For the reverse split, the complexity arises because a reverse split raises numerous legal and business issues. In general, it takes a company between 6 and 12 months to get listed on the OTC Markets. From SMB to Lending Technology: The Business Warrior Journey. 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. 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. 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. Als u uw keuzes wilt aanpassen, klik dan op 'Privacyinstellingen beheren'. The company does not undertake any obligation to revise or update these forward-looking statements to reflect events or circumstances after such date or to reflect the occurrence of unanticipated events. 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. 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. . Better For You Wellness Announces Application to Uplist to OTCQB The OTCBB was a regulated quotation service for OTC securities provided by the Financial Industry Regulatory Authority (FINRA) to its members. Uplisting: How It Works and Why It's Important - Warrior Trading Have a board of directors that includes at least two Independent Directors. Companies also need to demonstrate that they are in compliance with all federal and state reporting standards. (vii) Transactions with directors, officers or principal security holders. 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. The application consists of (i) OTCQX application for international companies; (ii) the contractual agreement with OTCQX for international companies; (ii) the OTCQX application fee; (iv) the OTCQX Agreement for international companies; (v) an application for the international companys desired PAL if such PAL is not already pre-qualified; (vi) an appointment form for theDAD/PAL; and (vii) a copy of the companys logo in encapsulated postscript (EPS) format. In any event, the independence requirement must be satisfied within one year of the Company joining OTCQB. 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. 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. All OTCQB companies will be required to pay an annual fee of $10,000. International Reporting Companies must have filed, in English, through the, Alternative Reporting Companies must have filed, through the OTC Disclosure & News Service, an information statement prepared in accordance with the OTCQX and OTCQB Disclosure Guidelines, Verified Company Profile. Pinksheets are available to ADRs and foreign ordinary securities of companies traded on a Qualifying Foreign Stock Exchange. Man U Everton, OTCQB Listing, OTCQB Requirements, OTCQB Reporting Over the counter securities are traded on OTC Markets, through an online alternative trading system (ATS) that includesbroker-dealers and market makers. The fee for listing on OTCQB markets is $14,000 per annum, with a one-time application fee of $5,000. At least two members of the Board of Directors and a majority of the members of the Audit Committee must satisfy the independence requirement within the later of 90 days after the Company begins trading on OTCQB or the time of the Companys next shareholder meeting. 2535 0 obj <>/Filter/FlateDecode/ID[<924CE71E0E43A84DBCD64F646EE438F1>]/Index[2517 39]/Info 2516 0 R/Length 96/Prev 736551/Root 2518 0 R/Size 2556/Type/XRef/W[1 3 1]>>stream dUrrt7/$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 OTCQX is the top tier of the three marketplaces for trading over-the-counter stocks provided and operated by the OTC Markets Group. As it has no minimum financial standards, the OTCQB often includes shell companies, penny stocks, and small foreign issuers. There are two main reasons why companies may be listed on the OTCBB. These are the OTCQX, the OTCQB, and the OTC Pink. Requirements for Bank Reporting Companies. 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. 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? However, such issuers are then further qualified based on the level of voluntary information provided towww.otcmarkets.com. SEC Reporting Standards: The reporting standard for a Company subject to the reporting obligations under Section 13 or 15(d) of the Exchange Act. Adidas Predator Accelerator Zidane. 7L)`Dg O Greene Concepts Announces its Application to Uplist to the OTCQB Business Warriors integrated platform combines a small business advertising performance, financial data, and funding as a key source of success and growth for business owners. 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. 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. 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. 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.