InvestorsHub Logo

lager

02/05/21 7:47 AM

#12859 RE: Raznic #12853

I had checked OTCQX rules which is what was being discussed at the time.

https://www.otcmarkets.com/files/OTCQX_Rules_for_US_Companies.pdf


2.1OTCQX U.S. Tier -Initial Eligibility Criteria To be considered for admission totheOTCQXU.S. tier, a Company shall:a)Meet one of the following exemptions, consistent with the definition of a “Penny Stock” under Rule 3a51-1 under the Securities Exchange Act of 1934. Financial criteria for these exemptions must be met based on audited financial reports dated within 15 monthsprior to the Company’s Application Day.1.Net tangible assets of $2,000,000, if the Companyhas been in continuous operation for at least three years, or $5,000,000, if the Companyhas been in continuous operation for less than three years2; 2.Average revenue of at least $6,000,000 for the last three years3;or3.A bid price of $5 per share as of the close of business on each of the 30 consecutive calendardays immediately preceding the Company’s Application Day, and as of the most recent fiscal year end have at least one of the following: A.Net income of $500,000;B.Net tangible assets of $1,000,000;C.Revenues of $2,000,000; orD.Total assets of $5,000,000; In the event that there has not been a prior public market for the Company’s securities in the U.S., and FINRA has approved a Form 211 with a bid price greater than $5per share, then the Company may apply in writing for an exemption from the requirement to maintain a bid price over $5 per share as of the close of business on each of the 30 consecutive days prior to the Company’s Application Day, which exemption may be granted by OTC Markets Group in its sole and absolute discretion.In such a case, the Company may demonstrate compliance with Section 2.1(a)(3)(A) -(D) using its most recent annual, quarterly or current event report filed through EDGAR or the OTC Disclosure & News Service, or a pro-forma financial statement (signed and certified by the CEO or CFO) posted through EDGAR or the OTC Disclosure & News Service.