Rich, now I've been around a few years and I know you know OTCQB and up must report to the SEC. There might be fraud in the OTC but falsified SEC filing are punishable by jail time. And Javan King, regardless of how many previous companies didn't like the he sold his shares, isn't a criminal.
The OTC Tier System
All OTC securities are assigned a market tier based on their reporting method (SEC Reporting, Alternative Reporting Standard) and disclosure category – Current, Limited or No Information. Securities on OTCQX, the highest tier of the OTC market, are required to have Current disclosure and meet minimum financial qualifications. Securities in OTCQB tier must be SEC, Bank or Insurance reporting and must be Current in their disclosure.
Securities in the OTC Pink (also known as Pink Sheets) market tier are further divided, based on the amount and timeliness of their financial disclosure, into three categories:
Current Information - Reporting companies that submit filings to regulators with powers of review and that make the filings publicly available or non-reporting companies that make current information publicly available on the OTC Disclosure and News Service pursuant to OTC Markets OTC Pink Basic Disclosure Guidelines.
Limited Information – Companies that have limited financial information not older than six months available on the OTC Disclosure and News Service or have made required filings on the SEC's EDGAR system in the previous six months.
No Information - Companies that are not able or willing to provide disclosure to the public markets - either to a regulator, an exchange or OTC Markets.
Companies that are deemed to have a public interest concern associated with them due to stock promotion, disruptive corporate actions, legal proceedings are classified by OTC Markets as Caveat Emptor (Buyer Beware).
Please see the OTC market tier section for more information.
A man's character may be learned from the adjectives which he habitually uses in conversation.
-Mark Twain
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