ProText Mobility Inc (TXTM)

[Maxinvestor89]

Sorry for interrupting you guys' argument

I just want to say that a Penny Stock exemption, itself, doesn't trigger anything with the SEC (The "Penny Stock Exempt" badge doesn't show on OTCM, because, as they told me, they don't show this kind of badge for non OTCQB or QX stocks)

Also, showing Assets over 10m$ isn't the sole criteria to "force" SEC reporting, a company must also have 500 shareholders of record or 2000 if less than 500 non accredited investors

TXTM, as per their last filling, on page 3, has 77 shareholders of record (holding securities under their own name, not through an online brokerage like the overwhelming majority of us)

As per SEC, mandatory SEC reporting starts when:

It has more than $10 million in total assets AND a class of equity securities, like common stock, that is held of record by either (1) 2,000 or more persons or (2) 500 or more persons who are not accredited investors OR it lists the securities on a U.S. exchange"

https://www.sec.gov/education/smallbusiness/goingpublic/exchangeactreporting