This link does a pretty good job. They have to meet the OTC guideline for being quoted. They would need to file to change their reporting tier and get audits for 2 years which at this point is impossible costly and pointless. Even if they did that the OTC June 30th warning is based on the OTC still needing to review whatever they decide to provide on whatever level they decide, to make sure it’s deemed to be Quotable on the OTC exchange. They have no revs for the last 2 years and would just need to explain that in a section of the 10Q-K. Fastest, smartest, and easiest way to do that. My assumption is that is what they will do since that would include 2019 to current and the last 10q stated the same for 2017-2018.
By "SEC Current" I meant "SEC full-reporting", it is clear that is the path GEGP is taking. Instead of submitting the disclosures directly to the OTC markets they are filing with the SEC. Once the necessary filings are accepted by the SEC, it appears OTC Markets will label GEGP as "Current".
The June deadline appears to only apply to companies seeking "Current" status using the "Alternative Reporting Standard". GEGP is not going that route.
See the quoted section below (underlines are my emphasis):
"OTC Markets Group segments Pink companies based on the information they provide to investors into Current, Limited or No Information. Companies can make disclosure available pursuant to one of the following Reporting Standards:
Filing required reports with the SEC, U.S. Bank Regulatory Authority, or home country if listed on a Qualified Foreign Exchange
Companies that do not meet one of the above standards can provide disclosure to investors directly to www.otcmarkets.com via the Alternative Reporting Standard"
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