HUGE!!!! Steve posted this on the other board on July 18!!!!
Posted On: 07/18/2012 5:11:47 PM
Posted By: Steven Samblis
I posted this on Facebook but thought I would place it here as well.
There is a great deal going on which we have not yet spoke about. Since we closed the Punch TV deal there has been an avalanche of opportunities come our way. We are moving on many of the and will share when the time is right.
I want to talk a second about something we feel is a very important move for ICPA. It may not be press worthy but it will have a great positive effect for the company and our share holders.
I have been very clear that our goal is to move the the NASDAQ. We currently trade on the OTCQB. From a trading stand point there is one level above us called the OCTQX after that the next highest trading level is the NASDAQ.
The OTCQX is the premier tier of the OTC securities market. It provides all investors with an objective way to distinguish the best OTC-traded companies. Investor-focused companies like IC Places. The OTCQX platform offers investors transparent trading, superior information, and easy access through a regulated U.S. broker dealer of their choice.
It appears based on conversations with the exchange that we meet the requirements to move up. This level is not based on current share price but on reporting and disclosure.
An area this will make a big difference is with with "Blue Sky". “Blue Sky” laws are securities regulations that govern the offer and sale of securities in each U.S. state and territory. Each state has its own unique Blue Sky requirements, designed to protect investors against fraud.
The 630,000 registered securities representatives from the 4,400+ FINRA-member broker-dealer firms in the U.S. are unable to solicit and have regulatory restrictions on accepting orders in a security from investors in a state where that security is not Blue Sky compliant.
This OTCCX listing will reduce the expense and filing burdens of individual state compliance and can help us qualify for an exemption in up to 38 states. This means we will dramatically open up the potential brokers and investor base throughout the US.
We have begun the process which will take about 30-40 days to make the move. I feel this will best serve all current and potential shareholders.
