Ready for the long answer; I'll say this one more time they were placed on greys this Summer because of 4 reasons/& 1 reason why they wanted to stay on greys to clear up all issues:
Reason #1 the crypto market was & is a new market that many issues were & are not covered by traditional SEC regulations (they had reason to question many aspects, especially a company that was the 1st to introduce untraditional methods, these are Reasons 2&3; one they were the 1st to introduce a buyback program to use coins for shares, & the 1st to introduce dividends to shareholders with coins. (they were granted 'remedy status'... meaning the SEC provided avenue to correct these issues & conform to SEC by traditional methods).
Reason #4, this company hasn't tapped capital markets in a long time (like nearly every OTC does, to get funding) & their balance has improved so well, the SEC became concerned because the balance sheet was listed in 90% digital equity (untraditional) - that's is also the white paper (G*TC) has been doing since Q2
#5 BITCF hired a well experienced FINRA lawyer & PCAOB auditor for the below reasons.
Since they are already on greys, they decided to stay on greys to uplist to QX.... the 'remedy' status provided... is a great scenario for investors who look at speculation that could provide a rich 'premiums' before coming off greys.
A company that wants to uplist higher than their original position (which here was pink) definitely find it opportunistic to stay on greys, time to gets things in order, audited... (i.e. there partner $P*EFF listed on OTCQX in December & that where the 20F comes in. They need to list in more traditional ways, how they do that is liquidate & migrate some digital assets to a cash balance.
Now look at the assets to liabilities & compare that to R*OT, G*TC... then look at the booked revenues... they are legit & they can't be misrepresented while under the scrutiny of auditors before an uplist... do U see what I'm saying!!!!
Many OTC investors aren't reading through details & analyzing them thoroughly enough. Why?
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