Although OTC stocks not registered with the SEC aren't required to report to continue to trade, as a way of helping investors evaluate a stock, OTCMarkets has established three tiers, Pink Current Info, Pink Limited Info and Pink No Info, to let investors know when a company is current with its filings, missing some info, or more than six months late with financial data.
Since Perlowin didn't file the attorney letter on time, the change to OTC Pink Limited lets investors know that HEMP is delinquent.
Bruce was sloppy.
Once he files that letter, HEMP will become current, and the stock will "uptier" to OTC Pink Current.
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