Replies to post #68638 on Regen BioPharma Inc (RGBP)

[positivealpha]

The SEC has made it quite clear that to be sure to not be delisted come 28th September, companies have to have their filings in by June 30th.

[Midwestrader]

It's the deadline for getting your OTCIQ codes which requires an application. Those codes are what will let companies upload financials. OTC says that if your application isn't in by 6/30 they can't guarantee they'll have them issued by 9/28.

RGBP needs to be moving. We keep hearing about audited financials but that means nothing if they can't upload to OTC Markets.

Access to the OTCIQ system is the first barrier to entry for companies that wish to publish current information in compliance with the 211 rules, using the Alternative Reporting Standard. OTC Markets is inundated with such applications and has publicly announced that if an application is not submitted before June 30, 2021, it will not be processed in time to allow a company to access the system to upload current information prior to the September 28th deadline. Upon submitting an application, the current processing time is approximately 12 weeks.

Unlike obtaining EDGAR filing codes from the SEC, access to the OTCIQ system involves a merit review. The application itself requires the disclosure of all officers, directors and 5% or greater shareholders and the submittal of a background check authorization form for each. If there is negative history, either actual or reputational, related to any of the people listed on the form, OTC Markets has the authority to, and will likely, deny the application.