BioPharm Asia, Inc (fka BFAR)

[at14tao]

The key here is that BFAR is traded on the pink sheets, which is under the OTC market. FINRA is the regulatory authority for the OTC market. BFAR filing with FINRA is the same as filing with the SEC, in the SEC's eyes. So BFAR has to prove to a MM that it has met the SEC's rule 15c-2-11 and FINRA's rule 6432 and then the MM files a form 211 with FINRA for BFAR. When the MM files the 211, that essentially is BFAR becoming current on their regulatory filings. After that, however long it takes FINRA to decide. Only the MM that filed the 211 can get the status. Here are the links.
http://www.finra.org/Industry/Compliance/MarketTransparency/OTCBB/FAQ/#300
http://www.sec.gov/divisions/marketreg/mrotc.shtml
http://www.otcbb.com/aboutotcbb/forms/form211.pdf
Outside of some weird wording in the PR, it sounds like this is what BFAR is doing.