Innovation Pharmaceuticals Inc (IPIX)

[TheHound]

loanranger Wednesday, 10/29/14 10:04:22 AM
Re: Apparition post# 75879
Post # of 76010
Helluva "first post on the board" question, wasn't it?

Here's my guess.
Earlier this year OTCM implemented some changes in their listing requirements. They were to be brought in in stages based on fiscal year end of the companies (turns out that MANY companies had the same tier change this morning).

"New procedures for OTCQB will be rolled out over the course of the year. Each company will be required to comply with the new OTCQB procedures 120 days following their Fiscal Year End (FYE). Companies that do not comply with the new procedure within the required timeframe will be downgraded to OTC Pink.

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



I haven't been able to find out exactly what requirement CTIX may have failed to meet, but based on the fact that they had a lot of company this morning I'm quite certain that they were not singled out in any sense and hopefully the issue is a simple one, for instance like maybe failing to keep the Company Info section update, which currently says:
Company Directors
Not Available
http://www.otcmarkets.com/stock/CTIX/profile

If I was a betting man I'd bet that the QB was restored by the end of the week.