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1manband

09/30/14 3:48 PM

#77461 RE: frenchy #77447

OTCMarkets is not a regulator. They are a for-profit PR company. The designations, including "current" are meaningless. Invented by OTCMarkets to sell more subscriptions to their reporting services. Just for show and used by most companies to sell stock.

Since their clients are the very companies they rank with the invented "tiers" and reporting designations, including current, it is in their best interest to assign the current designation as quickly as possible and whenever possible, no matter how obviously fraudulent and incomplete the "financial statements" are that have been uploaded to OTCMarkets. Since they are not a regulator, they have absolutely no authority to review anything uploaded to their reporting service by their client companies. Which means a company can upload virtually anything to meet the current requirements.

Since it is in OTCMarket's economic interest to maintain as many "current" issuers as possible, they do most whatever they can to avoid downgrading their paying clients. It is bad for business. It is not uncommon to see a company to remain "current" for months, or even a year or more, without "filing" anything.

You can try contacting their grandiosely named "compliance department" (since they are not a regulator, the use of the term "compliance" is shameful since there are no laws or regulations to comply with) and see if they do anything about it. But as long as the company in question has paid all their subscription fees to OTCMarkets, they probably will be very reluctant to do anything. At least until their next check is due.