Xcelerate Inc (XCRT)

[Orion1972]

We've Applied to Trade on the OTCQB Venture Marketplace

We've Applied to Trade on the OTCQB Venture Marketplace!

Check out this morning's press release for more details on our uplisting intentions. https://t.co/tWenIHNuRR#OTCMarkets #OTCQB #Medical $XCRT pic.twitter.com/6stLnqwJLS

— Xcelerate, Inc. (@XcelerateUS) June 22, 2022

https://finance.yahoo.com/news/xcelerate-inc-applies-trade-otcqb-121500832.html

Audited Annual Financials (PCAOB Audit required for U.S. Companies)

https://www.otcmarkets.com/corporate-services/get-started/otcqb
What happens when the OTC reviews the financials that have been audited?
Shell status has changed from

A Shell Company is a company, other than an asset-backed issuer, with no or nominal operations and either 1) no or nominal assets; 2) assets consisting of cash and cash equivalents; or 3) assets consisting of any amount of cash and cash equivalents and nominal other assets, as defined by Securities Act Rule 405 and Exchange Act Rule 12b-2. SEC reporting companies designate their shell status in their periodic filings

https://www.otcmarkets.com/glossary#shell
To...

The Shell Risk designation indicates that a company displays characteristics common to Shell Companies. This designation is made at OTC Markets’ sole and absolute discretion based on an analysis of the company’s annual financial data and may differ from issuers’ self-reported shell classifications in their own public filings. Our analysis evaluates asset composition, operational expenditures, and income related metrics. No action is required by a company to perform the evaluation other than publishing current annual financial information.

In limited circumstances, OTC Markets will consider removal of a company’s shell risk designation upon written request by a company. Please be advised that such requests will only be considered when there has been a material change in financial condition since the most recent fiscal year-end that is reflected in publicly available interim financial statements. Examples include a material increase in asset composition or operating revenues with related financial disclosure as a result of an acquisition or change in control transaction.

https://www.otcmarkets.com/glossary#shell-risk
Looks to me like the crutch that has been leaned on very well could be gone soon.. It sure will be fun to watch the negative sentiment flop around without their crutch...