What Specifically is it? Is it An Application to List on OTC QB? An Upgrade to where Veltex is currently trading? Where do We find the info that You're referring to in Your Post?
If Certification, Then Does it mean that Veltex has Advanced to Mid-Tier on the OTC and is therefore in a Much More Respected/Reputable Trading Status?
If Yes, Then OTC QB Sounds like Encouraging News!
(Improved investor confidence through verified information, confirming that the Company Profile displayed on www.otcmarkets.com is current and complete)
Eligibility Requirements:
Audited annual financials prepared in accordance with U.S. GAAP by a PCAOB auditor.
(Regulation A Companies are exempt from the initial requirement)
• Be SEC Reporting, Regulation A Reporting, Bank Reporting or Alternative Reporting
• Have a minimum bid price of $0.01 as of the close of business for each of the last 30 calendar days
• 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 Section 1.1 of the
OTCQB Standards
• May not be subject to bankruptcy or reorganization proceedings
• Have a transfer agent that participates in the Transfer Agent Verified Shares Program
• Meet Corporate Governance Standards: 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 on
board independence (Alternative Reporting only)
