Was EGMI FORMALLY delisted from the OTC due to the HALT OR not?
The trader Thirsty Tiger wrote
"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."
THE INVESTOR wmthecommoner wrote
"What has happened due to the SEC Halt, is that NO Market Maker has been willing to make a market in the stock until the Financial Statements are audited and the non reliance issue is resolved.
Once that issue is resolved, the MM have to do some review and DD and then are likely to make a market in EGMI.
But as I understand it, EGMI was not formally delisted from OTC.
Maybe a mute point in the short run, but it means the trading on the OTC will be quickly restored with audited financials. So in meantime Grey market sales only."
Who is blowin smoke?
