IMACMAN...NO need to cause panic...all others out there ..you should do your own DD..and decide for yourself...this is what I have found on new 1 cent rule...key not being 2015!! not being delisted ... yet
We have a year. We will be well above a penny by next year. Folks do your DD and shop scaring newbies and shaky hands. We are golden at this point... Freak out and ill but your shares.. Read this in its entirety and maybe you will have a better understanding of the new rule...
Beginning may 1, 2014:
•Bid test: All current OTCQB companies that
do not meet the minimum bid test (minimum bid price of $0.01 per share as of the close of business for at least one of the previous thirty consecutive calendar days) will be removed from OTCQB beginning May 1 .
• new Companies: Companies that are not on OTCQB as of April 30, 2014 must submit an application, pay the required fees and follow the new procedures in order to become traded on OTCQB. Securities will no longer be automatically put on OTCQB when a new Form 211 is cleared by FINRA or an OTC Pink company becomes current in its reporting.
• international reporting: International Reporting companies on a Qualified Foreign Stock Exchange may now apply to trade
on OTCQB.
Companies Currently traded on otCQB
OTC Markets will roll out the new procedures for OTCQB over the course of a year. Each company will be required to comply with the new OTCQB procedures 120 days after its Fiscal Year End (“FYE”). Companies that do not comply with the new procedures within the required timeframe will be downgraded to OTC Pink.
Companies with a March 31 FYE will be the first group of current OTCQB companies subject to the new requirements and will be required to comply with the new OTCQB standards by July 31, 2014. The rollout will be complete when the last group of current OTCQB companies with a FYE of March 30 are required to comply on July 30, 2015.
During 2014, companies may choose to apply to OTCQB prior to their required compliance date to take advantage of discounted pricing.
