Very well put. This distinction the OTC Markets outfit has created -- three different levels of reporting financials, plus a few other criteria -- is merely a marketing construct. OTC Markets is not an exchange. It is a trading platform that supplies current bid and ask quotes.
All public stock companies trading on the NYSE or NASDAQ must be fully reporting to the US Securities and Exchange Commission.
That some OTC listed companies chose to file or not to file information that companies registered with the SEC are required to file is entirely up to the managements of those particular companies.
Such matters as a negative auditor's opinion are considered immaterial and irrelevant to the true believers.
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