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NEW YORK, March 26 (Reuters) - OTC Markets, the operator of three U.S. over-the-counter equity markets, is rolling out tighter reporting standards and eligibility requirements for its venture-stage market to crack down on stock scams and bolster transparency, the company said on Wednesday.
On May 1 for its OTCQB market, OTC Markets will introduce a new minimum one-cent bid price requirement and will require the company's chief executive or chief financial officer to certify that its reporting obligations are current and that disclosures about shareholdings, officers and corporate profile are correct.
The bid requirement, in which stocks must have been quoted for at least 1 cent daily over a 30-day period or be dropped from the market, aims to ferret out companies that fall prey to dilutive stock fraud schemes and promotions, OTC Markets said.
OTC Markets also will charge a one-time $2,500 fee for new applicants and an annual $10,000 fee for companies trading on its markets.
Foreign companies that are listed on a qualified stock exchange and are current in their U.S. reporting obligations will be allowed to trade on OTCQB, OTC Markets' middle-tier marketplace. In the past, they traded on the lowest "pink" tier.
On Tuesday, the two most actively traded stocks on OTC Markets on Tuesday were French dairy products maker Danone SA and Swiss pharmaceuticals Roche Holding AG .
Trading volume on OTC Markets was 20.1 billion shares on Tuesday, about three times that of all U.S. stock exchanges and other trading venues. But the value traded, $1.4 billion, paled in comparison with the $263.4 billion executed on the other exchanges and venues, data from BATS Global Markets showed. (Reporting by Herbert Lash)
Opening bell .01
IT IS RISING PREMARKET YAHOOOOOOO NICKELS COMING
NEWS! NEWS! NEWS! KABOOOOM$$$$$$$$$$Primco Management Analyst Report Highlights Business Model and Future Expectations by BrokerBank Securities, Inc
NEW YORK, Mar. 27, 2014 /PRNewswire/ -- Primco Management, Inc. (OTCQB: PMCM) has diversified its business model to include itself in the cannabis business. Prior to this year, the company was involved in real estate management and development, music production and distribution and feature film production. This year the company has announced a re-direction in its real estate business, with an emphasis on providing locations and services to marijuana based companies. They have more artists coming on board with their music production and distribution arm but have lessened the emphasis on the feature film industry.
The company stock has been on a significant upswing since February when they announced their intention to invest in the marijuana industry. This is a scenario that investors have seen time and time again this year as many companies jump on the cannabis bandwagon, improving their share price in the process.
PMCM has announced two investments in the cannabis space this year. In the company's history they have generated marginal revenues from the music industry and negligible revenue from real estate. Will the refocusing of PMCM generate a revenue stream that can sustain them? Can the company secure the necessary financing for their new cannabis direction?
A full report on PMCM that includes risk factors, industry review, financial position, potential revenues, and review of current business model, competition breakdown, analyst summary, and recommendation can be viewed by using the following link:
http://bit.ly/PMCM-AnalystReport
copy and paste may be required
FORWARD-LOOKING DISCLAIMER
This report may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of mentioned company to be materially different from the statements made herein.
COMPLIANCE PROCEDURE
Content is researched, written and reviewed on a best-effort basis. This document, article or report is written and authored by Mark Bonacci, Chief Analyst. An outsourced research services provider represented by Mark Bonacci, Chief Analyst provided Small Cap Street, LLC this article or report. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below. Small Cap Street, LLC and BrokerBank Securities, Inc. are not entitled to veto, interfere or alter the articles, documents or report once created and reviewed by the outsourced research provider represented by Mark Bonacci, Chief Analyst.
If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at admin@smallcapstreet.com. For any urgent concerns or inquiries, please contact us at admin@smallcapstreet.com.
NO WARRANTY OR LIABILITY ASSUMED
PMCM has not compensated Small Cap Street, LLC, BrokerBank Securities, Inc, or Mark Bonacci, Chief Analyst for the creation or dissemination of this report. Small Cap Street, LLC and BrokerBank Securities, Inc, is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted by Small Cap Street, LLC and BrokerBank Securities, Inc. whatsoever for any direct, indirect or consequential loss arising from the use of this document. Small Cap Street, LLC and BrokerBank Securities, Inc. expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Small Cap Street, LLC and BrokerBank Securities, Inc. do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
Small Cap Street, LLC is the party responsible for hosting the full analyst report on smallcapstreet.com. BrokerBank Securities in the party responsible for issuing the press release and Mark Bonacci, Chief Analyst is the author of research report. Information in this release is fact checked and produced on a best efforts basis by Mark Bonacci, Chief Analyst. BrokerBank Securities, Inc. has been compensated one hundred dollars by Small Cap Street, LLC to issue press release. Mark Bonacci, Chief Analyst has been compensated one hundred by Small Cap Street, LLC for the right to disseminate press release and research report.
BrokerBank Securities, Inc. is a member of the Financial Industry Regulatory Authority, CRD number #130116.
SOURCE BrokerBank Securities, Inc.
Copyright 2014 PR Newswire
I agree
Bid support
YES THIS IS THE REAL DEAL LONGS STRONG SUMMER FUN
YAHOOOOO
Half a billion shares in one hr this is going to blow up
Got my sell order in .02
People flipping for change hang on stop ruining this run this will go into nickels in no time patience
CHASE THEM
Pennyland here we come naysayers boooom
EXPLOSION TIME .005 up
PENNIES TODAY
GREEEN TODAY
Setting up for another pop
I HOPE SO
SLAP THAT ASK I WOULD NO FUNDS
Maybe i hope its good
I dont know
That's a real ask price its on fudelity
No trading today
Trying to scare people to sell don't sell this will blow soon IMO
Someone hit the ask
LET'R RIP
SOMETHING
Ask .0024 its going to blow
ITS GOING TO POP HANG ON
Quickest 100% ive ever saw lol
BOOOOOOOM
SQUEEEZE THAT .04 out already
THIS SHOULD BE TRADING PENNIES ALREADY
We should break .04 today
CRAZY WE ABOUT TO BLOW UP HERE
Chase time
YAHOOOOOOO