VGTel Inc (VGTL)

[GritzNGroceries]

No need for worries about that as of yet GOducks....

Quite often people will refer to the .01 minimum bid that's required to happen once every 30 days in order to maintain OTCQB status, and they're right however it's not that cut and dry.

Here's the rule in its entirety:

"Have proprietary priced quotations published by a Market Maker in OTC Link with a minimum closing bid price of $0.01 per share on at least one of the prior thirty consecutive calendar days. In the event that the minimum closing bid price for the Company’s common stock falls below $0.01 per share, a grace period of 180 calendar days to regain compliance shall begin, during which the minimum closing bid price for the Company’s common stock must be $0.01 or greater for ten consecutive trading days."

Here's the link straight from OTC Markets as confirmation:

https://www.otcquote.com/content/doc/otcqb/standards.pdf

As you know this past week we exceeded 30 days without closing with a bid of .01 or higher, however we still maintain our OTCQB status. The reason why its still OTCQB and not Pink Sheets is because VGTL has entered its 180 day grace period to try and get the PPS back over .01 .... however the key is during this grace period at some point the bid price has to close at or above .01 for 10 straight days. If this happens the company returns back to its original status of having to meet the .01 minimum closing bid at least once every 30 days.