Hannover House Inc (HHSE): “Listing” requirements vs. “eligibility”...

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Re: surfstocks post# 64982

Thursday, 04/21/2011 5:03:10 PM

Thursday, April 21, 2011 5:03:10 PM

“Listing” requirements vs. “eligibility” requirements.

Thanks for including the link.

You needed to scroll down further. There are no “listing” requirements because companies are not “listed” on the OTCBB, the OTCBB being merely a “quotation service.” There are, however, "eligibility" requirements. Also "filing" requirements. (I guess they’re trying to confuse us.)

http://www.otcbb.com/faqs/otcbb_faq.stm#Listing

LISTING AND ELIGIBILITY REQUIREMENTS

What are the "listing" requirements for the OTCBB?

Because the OTCBB is a quotation service for FINRA Market Makers, not an issuer listing service or securities market, there are no listing requirements that must be met by an OTCBB issuer. Accordingly, there are no financial requirements and there is no minimum bid price requirement.

Are OTCBB companies considered to be "listed"?

No, the OTCBB is not an issuer listing service, and there is no listing agreement between either the OTCBB or NASDAQ and the issuer. There are, however, certain requirements an issuer must meet in order for its securities to be eligible for a market maker to enter a quotation on the OTCBB.

What are the eligibility requirements for the OTCBB?

In order for a security to be eligible for quotation by a market maker on the OTCBB, the security must be registered with the Securities and Exchange Commission (SEC) or other federal regulatory authority that has proper jurisdiction (see below) and the issuer must be current in its required filings with such federal authority.
Domestic issues quoted on the OTCBB are limited to the following securities:

o securities of issuers that make current filings pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 ("Act"); ….

http://www.otcbb.com/faqs/otcbb_faq.stm#filing

FILING INFORMATION

What are the filing requirements for being on the OTCBB?

Issuers of all securities quoted on the OTCBB are subject to periodic reporting of financial information to the SEC, banking, or insurance regulators…..