Transportation and Logistics Systems Inc (TLSS)

[Howzitgoing]

OTCQB Eligibility Requirements

Which requirement wasn't met?

https://www.otcmarkets.com/corporate-services/get-started/otcqb
> U.S. companies must have audited annual financials by a PCAOB auditor. (Tier 2 Regulation A Companies are exempt from requirement to use a PCAOB auditor for their initial audit)

> Meet minimum bid price test of $0.01

> Not be in bankruptcy

> Have at least 50 Beneficial Shareholders, each owning at least 100 shares

> Have a freely traded Public Float of at least 10% of the total issued and outstanding of that security.

> Companies with a freely traded Public Float of at least 5% (and $2 million in market value of public float), or a separate class of securities traded on a national exchange may apply for an exemption (see OTCQB Standards)

> Have a transfer agent that participates in the Transfer Agent Verified Share Program (US Companies only)

> International companies must be listed on a Qualified Foreign Exchange (or SEC Reporting) and submit a Letter of Introduction from an approved OTCQB Sponsor

Reporting Requirements

Meet one of the following Reporting Standards:

> SEC Reporting Standard

> Regulation A Reporting Standard (Tier 2)

> U.S. Bank Reporting Standard

> International Reporting Standard

> Alternative Reporting Standard

Timely disclosure of material news

Corporate Governance Requirements (Alternative Reporting only)

> Have a board of directors that includes at least two Independent Directors

> Have an Audit Committee, a majority of the members of which are Independent Directors

Verification Requirements

> Maintain a Verified Company Profile

> Post initial and annual verification and management certification SEC Reporting Standard

https://www.otcmarkets.com/files/otcqb_standards.pdf
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