RM, BO , new application to trade on other tiers all options for the company.
That is not on the cards. BITCF has lost compliance with Rule 15c2-11. That has nothing whatsoever to do with OTCMarkets and its "tiers". It will be officially Grey by early next week.
In order to trade as a Pink once again, BITCF will have to find a sponsoring market maker willing to file a Form 211 with FINRA. The reality is that no MM will step up to the plate, as BITCF has been suspended and may well be the subject of an ongoing SEC investigation. The MMs do not want to accept liability in the event the company's statements to them are false or inaccurate.
And even if an MM did agree to file a 211, it would need to be approved by FINRA. FINRA helped the SEC in the matter of the suspension, so it's highly unlikely it would be interested in offering that approval.
And so in all probability, BITCF--like so many suspended stocks before it--will trade on the Greys forever.
In answer to your second question, there are about five companies that were suspended and are now no longer trading as Greys. One is trading unsolicited, and so doesn't really count. The best known of the others, EMGE, had to fight for a year and a half to get back on the Pinks. At its peak just before the suspension, it was trading over $1. It closed today at 2 cents.
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