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Wednesday, June 08, 2022 8:11:10 AM
FINRA does not approve reverse splits, but it does process reverse stock splits as part of its functions related to company corporate actions in the OTC market.The effective date of the split will be established by our board, (8k filing on 3/21/2022 see link below)
According to FINRA, operations are not delayed [see below) even though they are working remotely, so blaming it on Covid is just an excuse.
OTC companies must submit notice to FINRA 10 days prior to the record/effective date of the corporate action.
10 DAYS??? DTII said on 3/21/2022 they filed with SEC We are also making necessary filings with FINRA and the SEC to effect the reverse stock split.
DOESN'T TAKE THAT LONG TO BE APPROVED.
https://www.sec.gov/ix?doc=/Archives/edgar/data/1533357/000109690622000692/dtii-20220321.htm
Willing to bet DTII screwed up the paperwork!
FROM THE OTC:
"Due to the COVID-19 outbreak, most FINRA staff are working remotely. FINRA remains fully operational through the support of our robust remote work capabilities and continues to carry out all of our regulatory responsibilities, protecting investors and market integrity.
Dtii stated in their filing of the 8-k on 3/21/2022 :
We anticipate that an information statement announcing the proposed stock split will be mailed to stockholders on or about April 12, 2022.
Has anyone received any mailings?
Don't think so.
Recent DTII News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/28/2023 08:26:16 PM
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- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 12/15/2023 07:42:45 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 09/25/2023 08:12:07 PM
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