As I said before, nobody understands exactly what happened with PHOT. And it's trading unsolicited.
Is it because FINRA has NEVER approved a stock going from the greys to an exchange?
It's not a question of a formerly suspended stock moving from the Greys to an exchange. That's never happened. It's a question of a formerly suspended stock moving from the Greys back to the Pinks. No exchange comes into it. OTCMarkets is not an exchange.
EMGE did return to the Pinks. This is how it happened: