Requirements for OTCQB listing include that the company: (i) must have a minimum bid price of $0.01 per share as of the close of each business day for each of the previous thirty calendar days prior to its application date and (ii) once quoted on the OTCQB, the company must maintain a minimum bid price of $0.01 per share as of the close of the business day at least one time per thirty (30) consecutive calendar days.
All OTCQB companies must meet the minimum bid price of $.01 per share at the close of business of at least one of the previous thirty (30) consecutive calendar days; in the event that the price falls below $.01, the company will begin a grace period of 180 calendar days to maintain a closing bid price of $.01 for ten consecutive trading days;
LOS ANGELES, CA--(Marketwired - Apr 20, 2016) - Innovativ Media Group, Inc. (OTC PINK: INMG) ("Company"), announced that in order to improve shareholder liquidity, attract new shareholders and investors and to pursue acquisition strategies, the Company has reversed split its common stock at a ratio of 500 to 1, effective today, and it intends to substantially decrease its authorized shares and to seek an upgraded listing on the OTCQB by the end of 2016.
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