Richie,
I think this is what Yaacov is planning,
"I can say that till May 1, 2007 Identa will be either on OTCQX or on the Emerging Equities List."
Here is what they are;
Companies that have substantial operating businesses and provide credible disclosure to the public qualify for the premium tier OTCQX, which commences trading on January 2007. For more information on OTCQX, please see our website at www.otcqx.com. Approximately 20% of the current Pink Sheets or OTC Bulletin Board traded companies could qualify for an OTCQX listing. All Pink Sheets quoted securities of issuers that are not able or willing to meet the high standards of OTCQX will be placed in one of the following categories and labeled as such on www.pinksheets.com effective May 1, 2007:
Emerging Equities List represents companies that provide credible disclosure, including GAAP audited financials, but may not have sufficient business operations to qualify for OTCQX. To qualify for this category, companies are required to provide a letter from an attorney regarding the quality of their disclosure. These companies will have an Emerging Equity List logo next to their symbol.
SEC Current indicates that the companies are SEC reporting and current in their financial reporting. Pink Sheets will track filings made through the SEC's EDGAR system and automatically categorize a company based on their filing status.
Adequate Current Information indicates companies that conform to Pink Sheets Guidelines for Providing Adequate Current Information. An audit is not required, but a letter from an attorney regarding the completeness of disclosure is required. Federal or state regulated banks, insurance companies and companies listed on non-U.S. stock exchanges will only need to supply the information they file with their primary regulator in English and will not be required to provide an attorney letter.
Limited Information Available applies to companies with some information posted in the last six months, either through the SEC's EDGAR system or the Pink Sheets News Service, but may not be current or complete. A yield sign will be displayed next to the symbol.
Public Interest Concern is for stocks with unsolicited spam, questionable promotion or other public-interest concerns. A Skull and Crossbones icon will be displayed next to the symbol. If there is no current information available for a company that is the subject of unsolicited spam, their quotes will also be blocked on pinksheets.com.
No Information is for all other Pink Sheets stocks. A stop sign will be displayed next to the symbol.
Yaacov will have to do something by May 1st in order to avoid the "no information" label as that will do harm to any stock. We need to be at least on the Emerging Equities List.
