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Monday, March 22, 2021 5:51:06 PM
UP-List to OTCQB
Eligibility Requirements
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
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