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Replies to post #16608 on Cache Inc (CACH)
07/27/21 3:21 PM
Any issuer not subject to the SEC’s regular reporting requirements (such as those on the Pink platform, some of those on the OTCQC, and any on either OTCBB or the Grey Market) must disclose additional information in order to have a market professional involved, including the names of all company insiders among other items. Further, the Rule amendments require any market professional to review the financial statements for two prior fiscal years. However, this two-year statement review requirement will not be effective for two years, so the amendments do not have a retroactive effect on securities that are outstanding. The existing Rule does not address startups utilizing crowdfunding under Regulation CF, as the crowdfunding concept was not extant in 1991 with the last Rule amendments. The Rule amendments specifically require, as part of the IRR, review of the most recent annual report, or if no annual report is available, the offering statement and any amendments concerning the company and the security, as well as the status of meeting targeted offering amounts.
07/27/21 3:34 PM
No its not true. There is more required than just updating the CEO to make them in compliance. SMH
