NationsMark Nextgen (fka NMNX)

[Dich]

They may not be able to. At least for a year. But we don't know any of the particulars about whats going on.
anyway read below.

If an issuer continues to be delinquent in its 1934 Act reporting obligations after the expiration of the NASD Rule 6530 grace period, the issuer’s stock will be removed from quotation on the OTCBB. Under NASD Rule 6530(e), an issuer that is delinquent in its reporting obligations three times in a 24-month period and/or is actually removed from the OTCBB for failure to file two times in a 24-month period is ineligible for quotation on the OTCBB for a period of one year.

Once removed from the OTCBB, can a company’s stock be quoted again in the future?

If an issuer’s stock is removed from quotation on the OTCBB, the issuer has the option of appealing the decision. However, the Panel that hears the appeal will only rule on whether or not the issuer was current with its 1934 Act reporting obligations at the time its stock was removed from quotation.
Assuming the issuer chooses not to appeal, or is unsuccessful in its appeal, the issuer would have to wait for one year before seeking to again be quoted on the OTCBB. Issuers cannot directly petition the OTCBB. In order to be quoted on the OTCBB, the issuer must request a Market Maker to file a Form 211 and a Form 211 Addendum.

How strict is the OTCBB with companies that repeatedly make late 1934 Act quarterly or annual reports?

The OTCBB uses a “three strikes” system to track issuers that are repeatedly late in meeting their 1934 Act reporting requirements. Once an issuer accumulates three strikes, the OTCBB removes the issuer’s stock from quotation on the OTCBB.


http://www.shajlaw.com/media/reports/AvoidingRemovalfromtheOTCBulletinBoard(1).pdf