Instadose Pharma Corp (INSD)

[TheFutureForsure]

Let’s Take a Closer Look into the OTCQB

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

Here is Just What is Required as there is a whole lot more at the Link

Requirements for Admission to OTCQB
1.1 Eligibility Standards
To be considered for admission to OTCQB, a Company shall meet all the following conditions:

1) Audited Financials. Audited annual financial statements must be prepared in accordance with U.S. GAAP or, for International Reporting Companies or Alternative Reporting Companies listed on a Qualified Foreign Exchange, IFRS or an IFRS equivalent, as applicable, containing an audit opinion that is not adverse, disclaimed, or qualified.

Audits must be conducted by an auditor registered with the Public Company Accounting Oversight Board (PCAOB).
International Reporting Companies are exempt from the PCAOB requirement. Regulation A Reporting Companies are exempt from PCAOB requirements for initial eligibility only; subsequent annual financial statements are required to have a PCAOB audit.

2) Current Disclosure. Make current disclosure available pursuant to one of the following reporting standards:

a. SEC Reporting Standard;
b. Regulation A Reporting Standard;
c. Bank Reporting Standard;
d. International Reporting Standard; or
e. Alternative Reporting Standard.
OTC Markets Group Inc.
OTCQB Standards (v 4.0 September 26, 2021)
Page 1 of 18

3) Bid Price of $0.01. Have a primary class of securities with proprietary priced quotations published by a Market Maker in OTC Link ATS with a closing bid price of at least $0.01

a) on each of the 30 consecutive calendar days immediately preceding the Company’s application for OTCQB and
b) as of the date OTC Markets Group approves its application to join OTCQB.

OTC Markets Group may consider an exemption if:

a) The Company is applying for admission to OTCQB in conjunction with an initial review for quotation eligibility;
b) There has been no prior public market for the Company’s securities in the U.S. and FINRA has recently approved a Form 211 relating to the Company’s securities with a bid price equal or greater to $0.01; or
c) The Company’s securities are traded on a Qualified Foreign Exchange at a price equal to or greater than $0.01.

4) An exemption from Section 1.1(3) of these OTCQB Standards may be granted by OTC Markets Group in its sole and absolute discretion. Any such exemption is conditioned upon the bid price for such Company’s securities remaining over $0.01 for each of the Company’s next 30 calendar days on OTCQB. Any company granted an exemption under Section 1.1(3)

(a) must satisfy the bid price requirement within three (3) business days following the public determination that the company has satisfied the initial information review. Have at least 50 Beneficial Shareholders, each owning at least 100 shares.

5) Have a freely traded Public Float of at least 10% of the total shares issued and outstanding of the class of security to be traded on OTCQB.

A Company applying to OTCQB with a freely traded Public Float above 5% but below 10% of the total shares issued and outstanding, and a market value of Public Float of at least $2 million, or that has a separate class of securities traded on a national exchange, may apply in writing to OTC Markets Group for an exemption from this Section 1.1(5), which exemption may be granted by OTC Markets Group in its sole and absolute discretion.

6) Not be subject to any Bankruptcy or reorganization proceedings.

7) Be duly organized, validly existing and in good standing under the laws of each jurisdiction in which the Company is organized or does business.

8) Transfer Agent. A company incorporated in the U.S. or Canada must retain a transfer agent that participates in the Transfer Agent Verified Shares Program. Additionally, the Company must authorize such transfer agent to provide to OTC Markets Group, upon its request, information related to the Company’s securities, including but not limited to shares authorized, shares issued and outstanding, and share issuance history.

9) Corporate Governance (Required for Alternative Reporting Standard Only). Alternative Reporting Companies are required to meet the corporate governance standards outlined below:

a. Have a board of directors that includes at least two Independent Directors; and
b. Have an Audit Committee, a majority of the members of which are Independent Directors.
OTC Markets Group Inc.
OTCQB Standards (v 4.0 September 26, 2021) Page 2 of 18

Trusts, funds, and other similar Companies may be exempted from these corporate governance requirements. The Company must apply in writing to OTC Markets Group for an exemption to this Section 1.1(9), which exemption may be granted by OTC Markets Group in its sole and absolute discretion.

A Company applying to OTCQB may submit a written request, which may be granted by OTC Markets Group in its sole and absolute discretion, to be permitted to phase in its compliance with the corporate governance standards set forth in this section 1.1(9) as follows:

1. At least one member of the Board of Directors and the Audit Committee must be independent at the time of application;
2. At least two members of the Board of Directors and a majority of the members of the Audit Committee must satisfy the independence requirement within the later of 90 days after the Company begins trading on OTCQB or the time of the Company’s next shareholder meeting. In any event, the independence requirement must be satisfied within one year of the Company joining OTCQB.

INSD $$$$$$$$$$$