FDCTech Inc (FDCT)

[BigBadWolf]

Since even companies w/ a complex history (reverse split, merger, or legacy debt) who are a SEC Filer & current OTCID the time frame is most cases is 2–3 months. I have put down some reasons & my recommendation to whom they should reach out to below as,
Finding a sponsoring market maker for a Form 211 filing isn’t just about paying a fee; the sponsoring broker assumes regulatory liability and due-diligence obligations under SEC Rule 15c2-11 and FINRA Rule 6432.
I'll try to breakdown why a company might not be able to find a market maker sponsor, even if it’s an SEC filer.
Regulatory Risk to the Market Maker as every 211 sponsor must attest that:
It has independently verified all information in the issuer’s filings & all the information is current and accurate. should not be a problem w/ them being a SEC filer.
The securities are not being used in a fraudulent, manipulative, or shell-promotion scheme as
should FINRA later find deficiencies, the broker not the issuer is on the hook. &
FINRA has fined and sanctioned market makers for filing “inadequate” or “misleading” Form 211s.
As a result, many firms have stopped accepting small or high-risk OTC issuers altogether.
Common red flags that make them walk away would be prior SEC enforcement actions, Expert Market history, or stop-sign status. If an issuer previously had a Form 211 rejected or withdrawn, as that record is visible to FINRA and potential sponsors. Many brokers won’t touch a company that already has a negative compliance trail.
I would recommend if they have not to reach out to Glendale Securities, Inc.