No, you're incorrect. I was correct. I said the same SEC rules apply and they do. There is no special distinction for OTCQB.
What you are describing are SRO rules, and those rules I did not reference. SRO, self-regulatory organizations, including the national exchanges, have their own additional rules.
However, the bulk of rules and the most important ones that involve disclosure, are SEC rules. SRO rules are very nice to have, but they are NOT a pink sheet company which is one of the wrong things shorts repeat.
No, the reason the NWBO dropped off of the NASDAW was about shorts destroying their financing for years back by attacking their past financings but not saying so. I've explained this many times. That triggered contractual clauses that yes, by their nature and the fact that they were years worth of financing at very favorable terms, had to be refinanced at very unfavorable terms because of the short destruction of the share price. The end result was the re-issuance of shares that had been used for payment at favorable prices of many more shares at unfavorable prices to pay their supplier who was obligated not to sell those shares, for cash payment. Obviously when you have spent money as a supplier, and agree to hold shares used as payment, they have to be topped up if the share price crashes. This is a common attack by shorts and yes, it required that they either, delist, or go into massive debt. They chose not to go into such massive debt, but rather to honor the contract and issue the share in payment. The shorts understood that either option was terrible, but issuing the shares would basically ensure that their short positions were profitable. This is why they attack those clauses, called most favored nations clauses (meaning the holder of the previously issued shares in payment, get the benefit of the pricing for future issuances).
They had to pay their bills. The reality is, the exchanges are best for established companies, not development stage biotechs. They really do not have rules that accommodate companies that are more like private equity than public equity. Many of the things you point out, are not uncommon for these tiny companies, but also do not necessarily mean what shorts suggest when they create the cascade of circumstances that allow them to destroy and then gobble up these companies and their assets.
I own NWBO. My posts on iHub are always posted expressly as just my humble opinion (IMHO) and none are advice, just my opinion. I am NOT a financial advisor, and it is assumed that everyone is responsible for their own due diligence.
