Affluence Corp (AFFUD)

[TJG]

No sorry Rich that is not how it works, this is the process

AI:

Yes, a company trading on OTC Markets must notify FINRA of a reverse split, as it is considered a corporate action that affects the securities. The company must submit a notification form to FINRA, which then reviews the action to ensure compliance with securities laws and corporate governance procedures.

FINRA notification: OTC Markets companies must notify FINRA of a reverse split using the electronic gateway and Corporate Actions Management Platform.
Information required: The notification must include the ratio of the split and the dates of board and stockholder approval.
Timing: According to FINRA rules, this notification must be sent to FINRA at least 10 days before the record or effective date of the split.

OTC Markets role: Once FINRA processes the action, it updates the issuer's profile on OTCMarkets.com.

But they do need to notify OTC Markets initially and they also must give OTC Markets 10 minute heads up before they go to press with it.

Its they must notify FINRA 10 days in advance not 10 Minutes and its FINRA who notifies the OTC Markets