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Wednesday, July 29, 2015 7:26:12 PM
Removal of OTCQB Companies for Failure to Meet Requirements
OTC Markets Group may remove the Company’s securities from trading on the OTCQB marketplace for the Company’s failure to meet the requirements set forth in Section 2 of these OTCQB Standards or any other obligations under these OTCQB Standards, which determination shall be made by OTC Markets Group in its sole and absolute discretion, unless such failure is cured within 30 calendar days after OTC Markets Group gives the Company notice of such failure.*** OTC Markets Group may, in its sole and absolute discretion, provide additional time to cure.
In the event the Company regains compliance with requirements under Section 2 of these OTCQB Standards, OTC Markets Group may, in its sole and absolute discretion, readmit the Company to the OTCQB marketplace under the following conditions:
1) If the Company regains compliance within 30 calendar days of Removal Date and has not completed or announced a corporate action during this time, OTC Markets Group may readmit the Company to the OTCQB marketplace with no further action required;
2) If the Company regains compliance within 30 calendar days of Removal Date and has completed or announced a corporate action during this time, the Company must submit a new OTCQB Certification for review and approval by OTC Markets Group;
3) If the Company regains compliance more than 30 calendar days and less than six months after Removal Date, the Company must submit a new OTCQB Certification for review and approval by OTC Markets Group; and
4) If the Company regains compliance more than six months after Removal Date, the Company must submit a new OTCQB Application. OTC Markets Group will review the Application pursuant to Section 1.4 of these of these OTCQB Standards. A new Application Fee is due upon submission of the Application.
Source: https://www.otcquote.com/content/doc/otcqb/standards.pdf
*** MY THOUGHTS: This could refer to the delinquent status from July 15, in which case a 30-day cure period would result in an August 15 deadline.
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