That is not the secs job . They do not set listing standards nor hold shareholders hands . The otc has no listing standards except if the company is sec reporting it must be current. The dead company is not anywhere near being current on their sec filings . There is nobody that can legally file any . You will notice pwc signed the last 8k from the company. They have been discharged leaving nobody . But they made sure to notify FINRA of the outcome . And FINRA deleted the only trading symbol attached to the dead company that was trading on the OTC . Do to chapter 15 liquidation. Yes the one with the Q on it . BIOA traded on the NYSE that symbol was delisted years ago . But FINRA could not legally act on it until the stay was lifted . And that didn't happen till November 15 2019 . Trading stopped on the 21st. It took them 3 trading days to shut it down . As the fantasy pump was in high gear .
The SEC does not set listing standards.
To be listed initially, a company must meet minimum financial and non-financial standards. Among other things, the standards cover total market value, stock price, and the number of publicly traded shares and shareholders a firm has. After a company's stock starts trading on an exchange, it usually is subject to other, less stringent requirements; if it fails to meet those, the stock can be delisted. As with listing requirements, the standards for delisting shares are not uniform; each exchange has its own requirements. You can find the initial and continued listing requirements on the websites of the New York Stock Exchange and the Nasdaq Stock Market. Neither the OTC Markets Group(f/k/a Pink Sheets) nor the OTC Bulletin Board has listing standards, although the SEC requires companies to be current in their filings before their stock can be quoted on the OTCBB.
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