ProText Mobility Inc (TXTM)

[Maxinvestor89]

I have seen TXTM Penny Stock Exempt Designation on OTCM Screener

The designation is exempting Broker-dealers from certain disclosure requirements towards their customers in relation to Penny Stock trading

1. Summary of Collection of Information

Rule 15g–2 requires broker-dealers to provide their customers with a penny stock disclosure document, as set forth in Schedule 15G under the Exchange Act, prior to each customer's first non-exempt transaction in a penny stock. The rule also requires a broker-dealer to obtain from its customer, in tangible form, a signed acknowledgement that he or she has received the required penny stock disclosure document. The broker-dealer must maintain a copy of the customer's acknowledgement for at least three years following the date on which the penny stock disclosure document was provided to the customer. During the first two years of this period, the document must be maintained in an easily accessible place.[113]

https://www.federalregister.gov/documents/2005/07/13/05-13737/amendments-to-the-penny-stock-rules



I respectfully disagree with you on the Penny Stock Exempt triggering any TXTM reporting obligations towards the SEC

We COULD see a Form 10 with PCAOB audit in the coming months.

IT ISN'T required

TXTM doesn't meet the MANDATORY SEC reporting, because of the Shareholders of Record criteria under Section 12(g) of the Securities Exchange Act of 1934

https://www.sec.gov/info/smallbus/secg/jobs-act-section-12g-small-business-compliance-guide