Friday, October 20, 2023 1:56:10 PM
QUALIFICATIONS
Eligibility Requirements
Audited Annual Financials (PCAOB Audit required for U.S. Companies)
Bid price of at least $0.01 for proprietary priced quotations published by a Market Maker in OTC Link**
Not be in bankruptcy
At least 50 Beneficial Shareholders, each owning at least 100 shares
Freely traded Public Float of at least 10% of the total issued and outstanding of that security
Companies with a freely traded Public Float of at least 5% (and $2 million in market value of public float), or a separate class of securities traded on a national exchange may apply for an exemption
Transfer agent that participates in the Transfer Agent Verified Share Program (US Companies only)
International companies must be listed on a Qualified Foreign Exchange and submit a Letter of Introduction from an approved OTCQB Sponsor, or be SEC reporting
** Companies that do not have proprietary priced quotations may become quoted by undergoing an “Initial Review” by OTC Markets Group or by having a broker-dealer file and clear a Form 211 with FINRA. Companies that may require an initial review include private companies looking to start a public market, non-U.S. companies listed on a foreign stock exchange, companies that were previously delinquent in their reporting obligations and companies with securities on the Grey Market. OTC Markets Group may conduct the initial reviews as part of the OTCQB application and approval process for qualifying companies. Shell Companies (or companies that display characteristics common to Shell Companies) and companies with less than 10% public float applying to the OTCQB Market should work directly with a broker-dealer to submit a Form 211 with FINRA.
View the complete list of OTCQB Eligibility Requirements
Reporting Requirements
Meet one of the following Reporting Standards:
SEC Reporting Standard
Regulation A Reporting Standard (Tier 2)
U.S. Bank Reporting Standard
International Reporting Standard
Alternative Reporting Standard
Timely disclosure of material news
Corporate Governance Requirements (Alternative Reporting only)
Have a board of directors that includes at least two Independent Directors
Have an Audit Committee, a majority of the members of which are Independent Directors
Verification Requirements
Maintain a Verified Company Profile
Post an annual OTCQB Certification
Background Checks
OTC Markets Group conducts comprehensive background checks on issuers, officers, directors, controlling shareholders and affiliated persons to maintain the integrity of the OTCQB and OTCQX markets.
https://www.otcmarkets.com/corporate-services/otcqx-otcqb/otcqb
"To Be Is To Do"...."To Do Is To Be"...."Do Be Do Be Do"
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