Montalvo Spirits, Inc.
(“TQLA”) (CIK No. 1518238) is a Nevada corporation located in Del Mar, California with a class of securities registered with the Commission pursuant to Exchange Act Section 12(g).
TQLA is delinquent in its periodic filings with the Commission,
having not filed any periodic reports since it filed a Form 10-K
for the period ended March 31, 2015, which reported a net loss of $826,756 for the prior year.
As of July 24, 2017, the common stock of TQLA was quoted on OTC Link, had seven market makers, and was eligible for the “piggyback” exception of Exchange Act Rule 15c2-11(f)(3).
What is Rule 15c2-11? ?Top
Rule 15c2-11 under the Securities and Exchange Act of 1934 (Exchange Act) governs the submission and publication of quotations by brokers and dealers for OTC equity securities. Specifically, the rule applies to a broker-dealer's initiation or resumption of quotations for such securities in any inter-dealer quotation system, including OTC Link. Pursuant to the Rule, brokers and dealers are required to review and maintain specified information about the issuer of the security before publishing a quotation for that security. See complete text of SEC Rule 15c2-11. Get a copy of the Form 211.
What is the Piggy-Back rule? ?Top
The Piggy-Back rule stipulates that a security is eligible for quoting under Rule 15c2-11 without the submission of a Form 211. Any authorized market maker may begin quoting piggy-back eligible securities at any point in time. The "piggy-back" exception is based on a market maker publishing quotations for a security in an applicable interdealer quotation system (OTC Link or the OTCBB) on at least 12 business days during the preceding 30 calendar days, with not more than four consecutive business days without quotations.
BUY fear, SELL excitement.
