Savvy Trades and Investments

[larrybaz]

CVUA - Just when you think it can't get any worse. From yesterday's 8-K:

Item 8.01 Other Events

As previously reported, CPI Aerostructures, Inc. (the “Company”) is not current in its Securities and Exchange Commission (“SEC”) periodic reporting obligations (overdue Company SEC reports are referred to herein as the “Delayed Reports”). Companies that are not current in their SEC reporting obligations in accordance with the provisions of Rule 15c-11 (“Rule 15c2-11”) promulgated under the Securities Exchange Act of 1934, as amended, do not have current information publicly available, and do not meet the requirements for ongoing quoting of their securities on one of the public markets (the “OTC Markets”) operated by the OTC Markets Group. The Company does not expect that the Delayed Reports will be filed with the SEC by July 14, 2022, the end of Rule 15c2-11 15-day grace period for the Company to have current information publicly available. Accordingly, the Company’s common stock, which is currently quoted on the OTC Pink Limited Information market tier, will be designated for quoting on the OTC Markets Group’s “Expert Market” effective July 15, 2022.



The Expert Market is available for unsolicited quotes only, meaning broker-dealers may use the Expert Market to publish unsolicited quotes representing orders from certain retail and institutional investors who are not affiliates or insiders of the Company. Quotations in Expert Market securities are made available to broker-dealers, institutions, and other sophisticated investors.



The Company intends to become current in its SEC reporting obligations by filing the Delayed Reports as soon as practicable. The Company anticipates that after it becomes current in its SEC reporting obligations its common stock will be eligible to trade on an OTC Market through the filing of a Form 211 with the Financial Industry Regulatory Authority or reliance on OTC Market Group’s current information designations in lieu thereof. There can be no assurance that the Company’s common stock will be quoted on an OTC Market or any other market or exchange or when that may occur in the future.