Replies to post #29398 on Bemax Inc (BMXC)

[I-Glow]

Since the OTCQB was created by the OTCM to generate more revenue - they don't want to kick anyone out - OTCM just changed the Admission Requirements - now you don't need to be a SEC filer.

All OTCQB companies must meet the minimum bid price of $.01 per share at the close of business of at least one of the previous thirty (30) consecutive calendar days; in the event that the price falls below $.01, the company will begin a grace period of 180 calendar days to maintain a closing bid price of $.01 for ten consecutive trading days;

Here is the Redline version of the new rules: https://www.otcmarkets.com/content/doc/otcqb/standards_proposed201704_redline.pdf

Eligibility Standards

To be considered for admission to OTCQB, a Company shall:
Meet one of meet all the following conditions:

a. Be an SEC Reporting Company current in its reporting obligations;

The Underline is supposed to be a strikethrough.

Standards for Continued Eligibility

2) Have Bid Price. Maintain proprietary priced quotations published by a Market Maker in OTC Link with a minimum closing bid price of $0.01 per share on at least one of the prior thirty consecutive calendar days. In the event that the minimum closing bid price for the Company’s common stock falls below $0.01 per share, a grace period of 180 calendar days to regain compliance shall begin, during which the minimum closing bid price for the Company’s common stock must be $0.01 or greater for ten consecutive trading days;

As you can see the OTCM has become much more lenient.

IG