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Monday, December 16, 2019 3:23:50 PM
The company I was in was non-reporting and had the stop sign up on the pink sheet site at the time they received 510k approval.
CEO of the company said he got tired of spending money to join clubs, because even after you had joined the club, everybody kept bashing away. He said the money was much better spent developing the business vs paying OTC markets their 5 figure membership fees, PCAOB acounting fees, etc.
I know another OTC company that stopped spending money on the regulatory clubs, and SEC filings. CEO of that company has bough back 15m shares of the common stock in the open market from the money he has saved (97m to 82m) in the last 6 months. He's going to keep widdling away at the common with any type of left over monies instead of giving himself a bonus. There are some good people out there if you look.
I would much rather be in a non reporting company where the CEO actually cares vs a reporting company where the CEO continually writes floor-less convertible debentures to give himself a six figure income while the company is loosing money.
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