Monday, November 11, 2024 2:58:43 PM
So I have concluded that once the Review by the OTC Markets is completed we will then get the completed merger news. Notice the twenty day completion requirement under the Application section. If the 20 days is calendar days then today marks 20 days if it work days then its around the 18th of this month. A merger or Buy out has occurred, change of control is control of the company... not control of something as mundane as the Board of Director Chairman..
https://www.otcmarkets.com/otcapi/company/dns/news/document/77866/content
Here are the required steps that a company MUST follow when there is a Change of Control within a Company that is listed on the OTC Market Place
A change in control in an over-the-counter (OTC) market can affect a company in several ways, including:
Notification
The company must notify OTC Markets Group when a change in control occurs.
Application and fee
Within 20 days of notification, the company must submit a new application and fee to OTCQX.
Company profile
The company must update its company profile on OTCIQ.com to maintain its verified company profile designation.
Review fee
The company must pay a non-refundable change in control review fee to OTC Markets Group.
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