Replies to post #14435 on Eastgate Biotech Corp (fka ETBI)

[Jimmy Swaggert]

Sure... simply put they didn’t remove the press.

I’d imagine they would have at least retracted it from their website if it was bad.

This leads me to believe there’s something there perhaps.

Also, the suspension was in-part due to an issue with recorded shares with their transfer agent. That was rectified immediately with updated disclosures and attorney opinion letters.

Lastly, the suspension caused them to lose their 15c 211 filing. However, the SEC just amended the rule and now OTC MARKETS.COM can attest to companies current status and subsequently allow brokers to post live quotes... effectively taking them off of the Grey Markets.

There is a 9 month holding period from the posting of the rule before it takes effect.

The rule officially posted on the federal register website by the SEC on 12/28/2020.  So the actual effective date is 12/28/2020. 

Regarding when the rule will start, the document states:

P. Compliance Date
The Commission is providing a compliance date that is nine months after the effective date of the amended Rule, except for the compliance date for paragraph (b)(5)(i)(M) of the amended Rule. The compliance date for paragraph (b)(5)(i)(M) of the amended Rule is two years after the effective date of the amended Rule.[535]

So it looks like September.  

https://www.federalregister.gov/documents/2020/10/27/2020-20980/publication-or-submission-of-quotations-without-specified-information

Document number 2020-20980