Incorrect. It's still a reporting company with a registration statement. The deadline is 90 days from end of fiscal.
The fact that they are not on OTCBB just means that if they are late in reports, nobody is going to do anything.
DISCLAIMER: I am a dirty, rotten penny investor. I am not compensated by any stock. I've asked them to pay me, they refuse. I buy stock on the open market. I sell it there. I like money. I am greedy. I am under the care of a psychiatrist.