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elkonig

04/24/20 10:52 AM

#75654 RE: cvinvestor #75635

There is currently a USA federal joint task force that includes the NCI, CDC,FDA, HHS and the National Allergy group that has been given a mandate to ensure all testing methods offered for COVID-19 diagnosis are verified as viable.
To date only one of the twenty or so companies suspended by the SEC over un substantiated COVID-19 claims has responded to the SEC and that company NBDR is off suspension and on the OTC grey/expert market.

TenKay

04/24/20 11:04 AM

#75682 RE: cvinvestor #75635

“does DECN have any recourse of getting the suspension lifted or the ability to have MM resume public quotes?”

Unfortunately no. DECN has two choices at the moment. Either go to Court to get an injunction on the suspension before the 4 days is up when they lose 15c2-11 compliance...or file a “550” with the SEC which is a petition to terminate the suspension. Only problem is that it takes much longer than 10 days to get through that process (assuming they can even be successful and I have yet to see one that was) so it still ends up on the grey market. Only difference is it might be easier to get a MM to sponsor a 211.

The other thing that might happen is that a broker dealer may get the ticker move to what is called the “Expert Market” which is a made up name OTC uses for stocks where they are allowing OTCLink to be used privately between market makers to match trades. The name kinda sounds like something good and can be used to make it look like the stock is no longer grey...but it still is.