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Monday, November 17, 2014 4:00:28 PM
Bid Test
All current OTCQB companies that do not meet the minimum bid test (minimum bid price of $0.01 per share as of the close of business for at least one of the previous thirty consecutive calendar days) will be removed from OTCQB.
Timing
Companies with a March 31, 2014 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, 2015 is required to comply on July 30, 2015.
OWOO's FYE is Dec 31, 2014 - the compliance period will apply 120 days later, starting on April 30, 2015. In the event OWOO's bid price stays below $0.01 after that date, the earliest it could be delisted to Pink Sheets would be starting June 2, 2015.
The above assumes OWOO will continue to pay the annual fee required for maintaining their current status and is still in business.
The current 27 days that the Company has been below a $0.01 bid price (on close of trading) would not be applicable to the above rules until after April 30, 2015.
http://www.otcmarkets.com/learn/otcqb
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