That is not my understanding of the situation. My understanding that they are not suspended from the Canadian exchange, but rather delisted after they stopped trading on CNSX and made the decision to move to the OTC. If they were suspended from CNSX there would have to be a reason for suspension, and none exists. I even tried contacting the CNSX for a reason and they gave none. From what I understand they have just parted ways with CNSX and thus are delisted from the exchange. The only way to get off is delisting. They now trade only on the OTC, and there is no intention for them to trade on CNSX again. CNSX is an obscure exchange anyway, not sure why anyone would want to be there IMO.
Your theory that the delisting from CNSX is why Scottrade has a freeze on it would imply that OTC must go through CNSX and then no broker would be able trade/clear this stock. Also from what I understand TD is allowing buying currently, and so is every other broker. Also Scamtrade allows selling, but not buying. If thats not clear what and where the problem is, I dont know what is.
That is why I see the delisting as a non-issue for OTCQX uplisting. If the company had done something wrong OTC would have taken action as well since they were trading there when the CNSX delisting occurred as it would have affected OTC as well. I see no voilations of anything here, they just delisted them because they no longer trade on CNSX. If anyone can find evidence of otherwise, please share.
Based on the information we have LCTI has the auditor they appointed on May 28th is currently auditing the last 2 years as required for uplisting. If the auditor signs off, it should be a done deal IMO once they pay the upgrade fees.
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