Based on this statement, you are correct:
The "Pink Sheets" The Pink Sheets — named for the color of paper on which they've historically been printed — are listings of price quotes for companies that trade in the over-the-counter market (OTC market). "Market makers" — the brokers who commit to buying and selling the securities of OTC issuers-can use the pink sheets to publish bid and ask prices. A company named Pink Sheets LLC, formerly known as the National Quotation Bureau, publishes the pink sheets in both hard copy and electronic format. Pink Sheets LLC is not registered with the SEC as a stock exchange, nor does the SEC regulate its activities.
However, this paragraph is a qualified paragraph. IE, it appears that only the very smallest of firms are qualified to be listed as Pinksheet entities. If a firm grows to the point of meeting following requirements, they must begin filing with the SEC:
Which Companies File Reports With the SEC?
In general, the federal securities laws require all but the smallest of public companies to file reports with the SEC. A company can become "public" in one of two ways — by issuing securities in an offering or transaction that's registered with the SEC or by registering the company and its outstanding securities with the SEC. Both types of registration trigger ongoing reporting obligations, meaning the company must file periodic reports that disclose important information to investors about its business, financial condition, and management.
This information is a treasure trove for investors: it tells you whether a company is making money or losing money and why. You'll find this information in the company's quarterly reports on Form 10-Q, annual reports (with audited financial statements) on Form 10-K, and periodic reports of significant events on Form 8-K.
A company must file reports with the SEC if:
* it has 500 or more investors and $10 million or more in assets; or
* it lists its securities on the following stock markets:
o American Stock Exchange
o Boston Stock Exchange
o Chicago Stock Exchange
o Cincinnati Stock Exchange
o International Securities Exchange
o Nasdaq Stock Market
o New York Stock Exchange
o Pacific Exchange
o Philadelphia Stock Exchange; or
* its securities are quoted on the OTCBB.
This post is an opinion and should not be considered reason to buy or sell any security, or to besmirch, belittle or berate any person, religion, cult, creed, race, sex, political party, company or company representative of any age or appearance.
AI
