Hi,
Read below:
If you’re a company trading on the Pink market (formerly known as pink sheets), you don’t file with the Securities and Exchange Commission (SEC) like companies listed on national stock exchanges. Instead, you follow simpler disclosure requirements. Here’s how it works:
Pink Market Listing Requirements:
The Pink market is the most speculative and loosely regulated of the three OTC marketplaces for trading stocks.
Companies can trade on the Pink market by submitting an electronic Form 211, provided by the Financial Industry Regulatory Authority (FINRA). Usually, a market maker handles this submission on behalf of the company.
The only real criteria for Pink stocks is disclosing their quarterly and annual financials.
Broker-dealers can trade securities on the Pink market without direct company involvement.
Disclosure Rules:
Pink market companies must update investors about their performance.
Broker-dealers and market makers can no longer publish quotations for stocks that don’t provide publicly available financial information.
Disclosure requirements include publishing quarterly and annual financials (which don’t need to be audited but must follow U.S. GAAP or International Financial Reporting Standards).
These rules have made the Pink market more transparent than before1.
So, if you’re a Pink market company, you’d focus on meeting these disclosure requirements rather than filing with the SEC. 😊
The Share information will be in the last Quarterly filed which is 3-31-2024 with the OTC.
