You and I have polar opposite opinions regarding the OTC/SARBOX versus Pinksheets/OTCQX debate. IMO the OTCQX leadership has positioned themselves as a rapidly growing, revolutionary, forward thinking exchange to surpass the OTC in growth, overall size and the ability to identify the soundness of firms therein. Other than SARBOX mandating that each firm's CEO place his name on the financials, I see no benefits to the reporting it provides. IMO the current OTC/SARBOX system is broken and needs repair, an opinion I share with Alan Greenspan and many others.
The strongest point of the OTCQX is the DAD and PAL system. Micro cap members with now have an advocate with credibility. By accepting only very high quality law and accounting firms, the OTCQX can enable members to maximize their value. Their stringent application creates DAD's and PAL's with immediate plausibility. Though obviously not equal, this system is akin to to larger firms availing themselves to the reputations of Big Four CPA firms. These small firms will create an immediate boost in reputation by aligning with with known reputeable attorneys and accountants. The unbiased DAD's/PAL's provide a second opinion, something the SEC does not. DAD's/PAL's future revenue in this business arena is completely based on their ability to accurately present financials and advice for microcaps.
I see two very different exchanges, one that still has problems with erroneous reporting and is mired in over regulation. Yet another that is taking the best ideas from foreign exchanges to build a more dynamic manageable marketplace. I like the later.
PBLS has been utilizing the accounting services of Dennis Kowalski, a CPA with his own firm prior to his joining of PBLS full time. They have also hired the firm of Mira and Kolena as CPA's to oversee Dennis's work. However, I suppose it's possible that neither know what they are doing.
Again, I see no advantage to PBLS changing exchanges from the QX to the OTC.
Best of luck to you in your investment here.
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.
