@janice,
Apologies for shifting gears here in the middle of a pre-existing thread discussion, but I was hoping you may be able to shed some light on a question for me:
For a company that is on the OTC Pink "Limited" tier due to failing to file a 10K, at what point does the company fall into the OTC Pink "No Info" tier? And then what is the trigger/timing for when said company gets sent to the greys?
According to the OTC site, for a company to maintain its "Limited" status, it must file a Quarterly Report or Annual Report for a fiscal period ended within the previous 6 months. Note the words "fiscal period ended", as opposed to filing date.
However, I am aware of a company whose last Q/K was the Q3'14 10Q. So, regardless of the fact that it was filed in mid-NOV'14, this Q covered a fiscal period that ended on 9/30/14.
This company initially retained its "OTC Current" tier status by filing a NT on 4/1/15, but when the 4/15/15 due date passed with no 10K, its status changed to "OTC Pink Limited Info".
So we are now well past the 6 months since the most recently concluded fiscal period for which a K/Q was filed. So why would this company not be moved to the "OTC Pink No Info" tier by now? Am I mis-understanding the procedures/triggers/conditions/timing?
Bottom line questions: When will this company be sent to "OTC Pink No Info" and then when would it be sent to the "greys"?
As always, TIA!!!
