Additional 15c2-11 info.
Form 211:
In cases where a broker-dealer initiates or resumes publishing quotations for an OTC security, it must file Form 211 with FINRA (the Financial Industry Regulatory Authority).
Tiered System:
OTC Markets Group, which operates the OTCQX, OTCQB, and Pink tiers, uses Rule 15c2-11 to determine which companies are eligible for quotation on their markets.
Expert Market:
The rule has also led to the creation of the Expert Market, which provides a venue for trading securities that may not meet the requirements for quotation on other OTC tiers.
My point is and has been is that the 15c2-11 is needed for EGYF to get off this current "unsolicited quotes only" which will eliminate the yield sign and allow for full pink sheet trading, while giving opportunity for the upper tiers. EGYF IMO is going nowhere without the 15c2-11 filing. Sure some trade the Expert Market and yield sign stocks, however a legit growing company is in 15c2-11 compliance.
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