Eyecity.com Inc (ICTY)

[BigBadWolf]

The time it takes for OTC Markets to remove a "Shell" status depends on several factors, including the completeness and accuracy of the company's filings, the complexity of its business, and the responsiveness of OTC Markets. Here’s a breakdown of the typical timeline:

1. Preparation Phase (Varies by Company)
Before applying for a review, the company needs to ensure all necessary disclosures, financial statements, and supporting documents are complete.
This step may take weeks to months, depending on the company’s state of compliance and readiness.
2. Submission to OTC Markets (1-2 Weeks)
Once the company submits all required documentation (e.g., updated financials, business information, and disclosure statements) via the OTCIQ portal, OTC Markets begins its review.
A complete and accurate submission significantly shortens this phase.
3. Review by OTC Markets (2-4 Weeks or More)
OTC Markets typically reviews submissions within 10-20 business days.
If issues or missing information are identified, OTC Markets may request additional details, which could extend the timeline.
4. Status Update on OTC Markets (Immediate to 1 Week)
If OTC Markets determines that the company no longer meets the "Shell" designation, the status is updated promptly in its system.
The company will receive a notification confirming the change.
Factors Affecting Timeline
Completeness of Documentation: Delays occur if filings are incomplete, unclear, or not in compliance with OTC Markets' guidelines.
Complexity of Business: Companies with intricate operations, recent mergers, or significant changes may face a longer review.
Responsiveness to Requests: Quick responses to any additional requests from OTC Markets can significantly reduce delays.
OTC Markets Backlog: The time may also depend on OTC Markets' workload at the time of submission.
Estimated Total Time
On average, 2-8 weeks after submitting the necessary documentation is a reasonable expectation for the "Shell" status to be reviewed and removed.