Cann American Corp (CNNA)

[trademax42]

JMoneyHoops....This is my common sense analysis. Currently CNNA is an Alternative Reporting Standard and a Pink Limited Information entity.

Please read this---Pink Limited Information Companies meet the minimum requirements under Rule 15c2-11.

1. Financial statements for a completed Fiscal Year within the past 16 months.
2. The Company Profile has been verified within the past 12 months.

When a company no longer meets the requirements for Limited Information, it will enter a 15-day grace period. At the end of the grace period, if appropriate disclosure is not publicly available, it will be moved to the Expert Market

https://www.otcmarkets.com/corporate-services/information-for-pink-companies/pink-current-and-limited-information-disclosure-guidelines

Last annual was done for period ending 2/28/2022. So they have until end of June 30, 2023 (16 months period) to file the next annual to meet the minimum requirements for alternative reporting standard/pink limited info entity.

Click on the link below:
https://www.otcmarkets.com/stock/CNNA/disclosure

I believe the Company entered into the grace period because the profile has not been verified as specified in no. 2 above. IMO verifying profile should not be difficult and could be a speedy process once it gets started. Once verified, CNNA should satisfy the minimum requirements to retain the pink limited designation (and not move to Expert Market).

I get your point Form 10 takes 60 days to be effective. What I don't get is this: why would the Company need an effective Form 10 to retain Pink limited designation under OTC requirements?

Let me know, I am willing to learn.

Thanks everyone and best to all!!

Quote from your post below:

Lol this is going to Expert Market which can destroy the share price but hey it’ll be an ideal but zone at least!