wmthecommoner wrote
"But as I understand it, EGMI was not formally delisted from OTC. "
That is true since it is simply impossible to be "delisted" from the OTC market because it is not a self regulatory exchange. You can only be delisted from a self regulatory exchange (AMEX, NYSE, Nasdaq). The OTC Pink Sheet, OTCBB are quotation services only.
"The OTC Bulletin Board® (OTCBB) is a regulated quotation service that displays real-time quotes, last-sale prices, and volume information in over-the-counter (OTC) equity securities. An OTC equity security generally is any equity that is not listed or traded on NASDAQ® or a national securities exchange. OTCBB securities include national, regional, and foreign equity issues, warrants, units, American Depositary Receipts (ADRs), and Direct Participation Programs (DPPs).
Thats's for the OTCBB and the verbiage is similar for the Pinks
The OTCBB is a quotation medium for subscribing members, not an issuer listing service. The OTCBB is an inter-dealer quotation system on which FINRA-regulated broker-dealers may post OTC quotations in unlisted equity securities.
That's FINRA's wording and by the way FINRA is trying to divest itself from the OTCBB quotation service.
Simply speaking, whoever you talked to was blowin smoke up your behind and further it is not a slamdunk that once the 10K is out that EGMI is right back being QUOTED on the OTCBB. It will take some time for EGMI to file a Form 15 and above all for a MM to sign on as a sponsor. Being a sponsor is by no means free and especially with a company that was just suspended by SEC it does carry a huge risk.
"You can't be a real country unless you have a beer and an airline - it helps if you have some kind of a football team, or some nuclear weapons, but at the very least you need a beer". F Zappa
