Replies to post #72013 on Coin Citadel (CCTL)

[Buffit]

It is not so funny, that this shows how little understanding you have about Form 211 needing to be filed for CCTL as it relates to removing the CE of the company, by you saying,

"That is pretty funny - CCTL is still trading meaning the 211 hasn't been rescinded - therefore filing a new 211 isn't required."

From the OTCM website, relating to the caveat emptor designation on CCTL.

"Warning! This security is eligible for Unsolicited Quotes Only

This stock is not eligible for proprietary broker-dealer quotations. All quotes in this stock reflect unsolicited customer orders. Unsolicited-Only stocks have a higher risk of wider spreads, increased volatility, and price dislocations. Investors may have difficulty selling this stock. An initial review by a broker-dealer under SEC Rule15c2-11 is required for brokers to publish competing quotes and provide continuous market making."

"When Does Caveat Emptor Get Removed?

OTC Markets Group may review a Caveat Emptor designation upon request by the company and may determine, in its sole discretion, to remove the designation. The Caveat Emptor designation is typically not removed within the first 30 days of designation. To be eligible for a review, a company must meet the qualifications for Pink Current Information, have a verified the information on its company profile on www.otcmarkets.com, and demonstrate to OTC Markets Group that there is no longer a public interest concern. OTC Markets Group requires Caveat Emptor securities that are not eligible for proprietary broker quotations (Unsolicited Only) to have a Form 211 cleared by FINRA in order to be eligible for a review"

This applies to CCTL, which means a broker-dealer (MM) needs to file a Form 211.


BTW, it may be a good idea for your friend, the very well known securities attorney to take a refresher course. :)

P.S. I think the Form 211 is being reviewed by FInra because it fits in with the timeline process for removing the CE.

And then finally comes the OTCM review, which may take up to 2 weeks.

AIMO, which I am 99.99999999999999% sure of.