No offense, but It's not a matter of opinion
Please show me where there is a different SEC reporting requirement for Pink Penny Stock Exempt issuers. (As in show me the relevant SEC rule on the Federal Register or the SEC related websites)
From my experience, and from what I can see, there are no special reporting requirements towards the SEC, for stocks like TXTM.
It only removes some disclosures requirements by Broker-dealers when they trade Penny stocks on behalf of their customers.
"Because of the speculative nature of penny stocks, Congress prohibited broker-dealers from effecting transactions in penny stocks unless they comply with the requirements of Section 15(h) of the Securities Exchange Act of 1934 ("Exchange Act") and the rules thereunder."
These SEC rules provide, among other things, that a broker-dealer must (1) approve the customer for the specific penny stock transaction and receive from the customer a written agreement to the transaction; (2) furnish the customer a disclosure document describing the risks of investing in penny stocks; (3) disclose to the customer the current market quotation, if any, for the penny stock; and (4) disclose to the customer the amount of compensation the firm and its broker will receive for the trade. In addition, after executing the sale, a broker-dealer must send to its customer monthly account statements showing the market value of each penny stock held in the customer's account.
Notwithstanding that, I hope the CE gets removed sooner rather than later🤞
