Bots Inc (BTZI)

[lesgetrich]

where is the 8k for Kressa and Mardikian?

Companies trading on the Over The Counter (OTC) Market are only required to submit Form 8-K for certain company actions. No 8-K was required for the appointment of Kressa and Mardikian to their positions. Both appointments were announced in PR's and publicly available information...

Order Approving Proposed FINRA Rule 6490 (Processing of Company-Related Actions) to Clarify the Scope of FINRA’s Authority When Processing Documents Related to Announcements for CompanyRelated Actions for Non-Exchange Listed Securities and to Implement Fees for Such Services

In addition to these functions, FINRA reviews and processes requests to announce or publish certain actions taken by issuers of OTC Securities. FINRA performs other more limited functions relating to the processing of certain actions by non-exchange listed companies whose securities are traded in the OTC market. In this regard, FINRA reviews and processes documents relating to announcements for company-related actions pursuant to Rule 10b-17 under the Act (“Rule 10b-17 Actions”). These documents include announcements of dividends or other distributions in cash or in kind, stock splits or reverse stock splits, or rights or other subscriptions offerings. FINRA also reviews requests to process documents relating to other company actions (“Other Company-Related Actions”), including the issuance or change to a trading symbol or company name, merger, acquisition, dissolution or other company control transactions, bankruptcy or liquidation. In addition, FINRA maintains the symbols database for OTC Securities. Based on information it receives regarding Company-Related Actions, FINRA, in turn, provides notice to the marketplace of such events and adjusts names, symbols, and the issuers’ stock prices, if necessary. According to FINRA, these functions are important both to the trading of securities in the OTC marketplace and to the settlement of transactions involving OTC Securities. FINRA notes that the issuer-related services it performs are aimed not only at facilitating trading and settlement, but also at promoting investor protection and market integrity.

Historically, FINRA has viewed its role in performing issuer-related functions as primarily ministerial, due in large part to its limited jurisdictional reach. FINRA does not impose listing standards for securities and maintains no formal relationship with, or direct
jurisdiction over, issuers.

In other words, FINRA does not require that OTC companies issue Form 8-K disclosures regarding company announcements and has no enforcement authority over OTC Companies. They only specify certain Company-Related Actions that they will review and process.

OTC Markets, on the other hand, has Market Tiers which have certain reporting requirements. Among the requirements for qualification for the OTCQB market is the obligation that companies comply with SEC Rule 10-b-17. The only 8-K reporting requirement for new company officers is as follows...

SEC Rule 10b-17

c. Disclosure under Item 5.02(c) and (d) when the registrant appoints certain new officers or a new director is elected. Paragraph (c) of Item 5.02 requires disclosure if the company appoints a new principal executive officer, president, principal financial officer, principal accounting officer, principal operating officer or person performing similar functions.

Neither Robert Kressa nor Alex Mardikian were appointed to any of the required disclosure positions.

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