So much for dreamers and schemers. The chances of MXSG EVER becoming a member of the Canadian OTC are zero and a little less than zero.
+Q. What are the general requirements for joining the OTCQX International Market?
A. Generally, an issuer may qualify for OTCQX International by satisfying OTCQX financial and
disclosure standards and applicable U.S. securities law requirements. For Canadian or
international issuers qualifying under the OTCQX International standards, these requirements
include:
? Penny Stock Exemption – A company’s security must meet one of the following
exemptions consistent from the definition of a “Penny Stock” under Rule 3a51-1 of the
Exchange Act: (1) the company has net tangible assets (i.e., total assets less intangible
assets and liabilities) in excess of US$2,000,000, if the company has been in continuous
operation for at least three years, or US$5,000,000, if the company has been in continuous
operation for less than three years, as demonstrated by audited financial statements dated
less than fifteen months prior to the company’s Application Day3; (2) the company has
average revenue of at least US$6,000,000 for the last three years, as demonstrated by
audited financial statements dated less than fifteen months prior to the company’s
Application Day; or (3) the security has an inside bid quotation of US$5.00 or more on the
close of business on each of the 30 consecutive calendar days immediately preceding the
company’s Application Day, and as of the most recent fiscal year end have at least one of
the following (A) net income of US$500,000; (B) net tangible assets of US$1,000,000;
(C) revent there has not been a prior public market for the company’s seues of US$2,000,000; or (D) total assets of US$5,000,000.
And then there is the joint venture plan. Almost as feasible as joining the Canadian OTCQX
Suggest you bend over, clutch both cheeks and with an effort kiss your backside adios muchacho.
