This is actually significant for the direction they are heading into. they want to convert from pink limited information to pink current information. Will increase legitimacy of this security and gather increased shareholder interest.
Here's the relevant information for the Rule 144 (c)(2) under Securities Act of 1933 -
Rule 144(c) - Current Public Information Requirement
What must a reporting company do to comply with the current public information requirement?
A reporting company satisfies the public information requirement if it has been subject to the reporting requirements of Section 13 or Section 15(d) of the Exchange Act for a period of at least 90 days and has filed all reports required during the 12 months preceding the sale (or such shorter period that the company was required to file reports).
What must a non-reporting company do to comply with the current public information requirement?
A non-reporting company satisfies the current public information requirement by making "publicly available" the information specified in Rule 15c2-11(a)(5)(i) to (xiv) and (xvi). This information is similar to the information required to be included in an annual report to shareholders.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.