GL Brands Inc. (fka GRLB)

[Plus9]

FYI on new upcoming rules that will affect Pink no information securities like GL Brands. Given there were only 5k shares traded today, I'm guessing GL Brands has already been impacted. They need to obtain at least an OTCQB rating now to even be listed on the exchanges. GLTA - Links below to the upcoming changes.

New rules will affect your ability to buy and sell “Pink No Information” securities, including at E*TRADE

On September 28, 2021, new requirements take effect that will impact the market for—and value of—certain “over-the-counter (OTC) securities” you currently hold or have held in the past. The new rules apply to “Pink No Information” OTC securities of companies that fail to publicly report and keep current financial and other company information and will restrict the ability of U.S. brokers, like E*TRADE from making these products generally available.

Some background on the new requirements

The Securities and Exchange Commission (SEC) recently adopted amendments to SEC Rule 15c2-11 governing the submission and publication of OTC quotations. These amendments will prohibit broker-dealers from submitting or publicly disseminating bid/ask quotations for OTC securities of issuers that do not meet enhanced information filing requirements.

Securities of issuers that make the required information publicly available by the deadline in the rule should not be affected.

What these changes mean for you

Starting September 28, 2021, you will no longer be able to buy or sell “Pink No Information” OTC securities through E*TRADE. Other restrictions related to the purchase of these securities may apply sooner. Please keep in mind that the upcoming changes will negatively affect the value of any “Pink No Information” OTC securities you hold now or in the future.

https://www.sec.gov/news/press-release/2020-212
https://www.federalregister.gov/documents/2020/10/27/2020-20980/publication-or-submission-of-quotations-without-specified-information