OTCBB issuers that are delinquent three times in a 24-month period, and those OTCBB issuers that are removed for failure to file two times in a 24-month period are ineligible for quotation on the OTCBB for a period of one year. Reports filed within the extension period permitted by SEC Rule 12b-25 will be considered timely filed. Once removed, the issuer cannot re-list on the OTCBB for a period of at least one year, and must file at least one Form 10-K and three Forms 10-Qs.