OTCBB General Discussion

[Anthony M]

Quotation of a Delisted Nasdaq Security on the OTCBB

If an issue has been delisted from The Nasdaq Stock Market because it has not maintained Nasdaq's listing requirements and the security meets the following criteria, then the issue will be available for immediate quotation on the OTCBB only for those Market Makers quoting in the security during the 30-day period preceding its removal.

The security has been quoted continuously on Nasdaq during the 30 calendar days preceding its delisting, exclusive of any trading halt not exceeding one day to permit the dissemination of material news concerning the security's issuer.
The issuer must not be the subject of bankruptcy proceedings.
The issuer must be current in its filings.
Upon delisting of a security meeting the above criteria, Market Makers that have quoted the security during the 30-day period preceding its removal have 24 hours in which to register to quote the security on the OTCBB without submitting a Form 211.

If the issuer does not meet all of the above criteria upon delisting, voluntarily delists from Nasdaq, or if no Market Makers register to quote the security on the OTCBB within 24 hours of delisting, the usual Form 211 filing and review process will apply.

Because the OTCBB is a quotation medium for subscribing members and not an issuer listing service, a delisted Nasdaq issuer cannot "list" themselves on the OTCBB. A delisted Nasdaq issuer that wishes to be quoted on the OTCBB should contact their Market Makers to request that they register to quote the security.

**********

Link>>>
http://www.otcbb.com/issuerinformation/issuerinfo.stm