Microelectronics Technology Co. (fka MELY)

[CryptoWStreet]

MELY - OTCBQ RULES FOR MELY - CLARIFICATION - GET ON BOARD -

Clarification on the May 1 rules many are having trouble figuring out- MELY is an existing OTCQB company so the company has 120 days after its year end financials that are filed on June 30 to comply.
The May 1 deadline is when the rule takes effect, it will impacts company's differently according to when they file their year end financials and if they are currently listed as an OTCQB stock. IMHO GL Link Below- notice different rules whether you are new or existing.
http://www.otcmarkets.com/content/doc/otcqb-fact-sheet.pdf
Quote from link above:
"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.
During 2014, companies may choose to apply to
OTCQB prior to their required compliance date to
take advantage of discounted pricing."
MELY fiscal year ends June 30 link below:
http://www.otcmarkets.com/stock/MELY/profile


Someone already posted this and clarified it....