SPYR Inc (SPYR)

[RandyKCMO]

Hey, SPYR is now listed as OTCQB. It says that SPYR was an OTCQB Member Since 07/2021

I don't know that this is a huge deal... but it certainly seems like a step in the right direction.

Here's a summary of the qualifications:



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

Here's a full list: https://www.otcmarkets.com/files/OTCQB_Standards.pdf