well, I was responding to the statement that "There's never a good or legitimate reason for any company to elect to stay Pink"
Bringing ADR's into the mix is a straw man argument...but you got him on the semantics.
As for my reference...it was missing a "that are traded"...referencing unsponsored and level 1 ADR's...that DO NOT file with the SEC. Obviously an ADR that is reporting is even farther away from LLEG for any meaningful comparison.
Again, they all still do have to file in their home country...so at least one can look somewhere.
That makes them lightyears different than a domestic pinkie.
LLEG has been talking about uplifting for at least the last 5 years. It's a common refrain from domestic pinks.
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