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Re: BigHeis post# 86246

Wednesday, 04/23/2014 9:21:37 AM

Wednesday, April 23, 2014 9:21:37 AM

Post# of 101798
To my read, the new OCT-QB threshold ($0.01 in the prior 30 days) does not seem to take effect for SNEY until 12/31/2014 + 120 days:

Companies Currently traded on OTCQB
OTC Markets will roll out the new procedures for OTCQB over the course of a year. Each company will be required to comply with the new OTCQB procedures 120 days after its Fiscal Year End (“FYE”). Companies that do not comply with the new procedures within the required timeframe will be downgraded to OTC Pink.

Companies with a March 31 FYE will be the first group of current OTCQB companies subject to the new requirements and will be required to comply with the new OTCQB standards by July 31, 2014. The rollout will be complete when the last group of current OTCQB companies with a FYE of March 30 are required to comply on July 30, 2015.

http://www.otcmarkets.com/content/doc/otcqb-fact-sheet.pdf (emphasis added)



SNEY's fiscal year ends on December 31, as witnessed by (and as stated in) the 10K that we just saw for fiscal 2013. I know that others have posted on this issue and called various people, so I apologize if I am revisiting a topic... but how does anyone read this to require SNEY to meet the penny threshold until 120 days after fiscal 2014?


I am an amateur at this, and it would be unwise to rely on my opinions without your own independent confirmation in consultation with an investment professional.

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