Only to remove themselves as a "SEC Reporting" company. They can list on the OTC PinkSheets and file financials as an "Alternative Reporting" company on one of the PinkSheet tiers (OTC Pink or OTC QB or OTC QX). OTC reporting companies are not considered "Reporting" companies, if they choose to go the OTC route. Many smaller companies report via OTC because it is cost efficient and way less expensive that being a "SEC Reporting Company". They will not be delisted, unless they fail to file timely reports via OTC PinkSheets.
FRFS still has some work (catching up) to do to become compliant to OTC requirements.
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