It doesnt move to grey sheets until suspension is over why do you think that a full trading suspension is circumvented
it moves to grey sheets when finra says it does but of course trading will not be possible on those grey sheets until the suspension is over.
And it wont move to grey sheets unless form 211 isnt filed on behalf of the brokerage for the company
it won't be. if you understood the 211 process you would understand how impossible that is. even if they could find a sponsoring market maker (they won't) and even if finra would approve (they wouldn't) the process takes months, not days.
It moves to the grey market automatically when it loses compliance with Rule 15c2-11. That happens four trading days after the suspension. OTC Markets may show it moving there sooner, it usually does. Perhaps later today or sometime Monday.
However, it doesn’t start trading on the grey market until the suspension is over.
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