What is presented in your post is a cut and paste from OTCMarkets.com. However you've omitted the most important detail, TPAC is SEC REPORTING. A SEC REGISTRANT abides by SEC rules and regulations.
A company subject to Section 15(d) of the Securities Exchange Act of 1934 is a SEC reporting company. Section 15(d) requires companies to file certain periodic reports and information required by Section 13 of the Exchange Act - such as Form 10-K, Form 10-Q reports, more current 8-K reports, etc.
Why have so many 8-Ks been filed in the past if TPAC doesn't have to do it..or the 10k or 10Q... why file if not required.
WHY is the OTC being talked about when it is a SEC requirement.
securities on the OTCQX, OTCQB and Pink markets may trade without being registered with the SEC
BUT TPAC is registered with the SEC, thus has to follow the SEC rules. It really is very simple, at least to me.
If Billy doesn't want to file the proper SEC docs then maybe he needs to file a FORM 15-12G.
DEFINITION of 'SEC Form 15-12G' A certification of termination of registration of a class of security under Section 12(g), or notice of suspension of duty to file reports pursuant to Section 13 and 15(d) of the 1934 Securities Exchange Act Section 12(g).
Heck he might as well, his filings are worthless anyway.