Replies to post #13963 on American Battery Materials Inc (BLTH)

[exisnet]

We were all surprised straight to Expert instead of limited in such a short amount time.

I was guessing reason was because we don't pay OTCM. Could be a mistake, Currently if Companies are late filing skip Limited go straight Expert.. Imagine effect will have on other NT filers. Selloff comes to mind.

Hopefully OTCM acknowledges this as a mistake.

I understand all of that, but I am saying other companies in the same exact boat didnt go to Expert Market (PCTL, PACV - see those SEC reporting companies that are Pink Ltd SEC Reporting companies that have yet to file). The rule gives them till July, 180 days past end of the last reporting period that is now late (end Dec 2022), plus additional 14 day grace past that.

https://www.otcmarkets.com/learn/15c2-11-resource-center

Rule 15c2-11 permits additional time (180 days) for Exchange Act reporting companies to continue to be eligible for public broker-dealer quotes. Accordingly, companies that make their annual or quarterly reports publicly available (via EDGAR) within 180 days of the end of the applicable quarterly or annual reporting period will still be eligible for broker-dealer proprietary quotes, but will be designated as “Limited Information”.

For example, if a company with a fiscal year end of December 31st files its second quarter 2021 report in a timely manner (by August 16, 2021), it would remain in the “Current Information” Tier until the third quarter report is due (November 15, 2021). If the third quarter report is not filed, the security would still be eligible for broker-dealer quotes, but would be moved to the “Limited Information” tier and would continue to be eligible for public broker-dealer quotes until December 27, 2021 (180 days after the end of the issuer’s second quarter). Thereafter, assuming the issuer did not rectify its disclosure deficiencies, the security would enter the 14-day grace period and move to the Expert Market for unsolicited quoting only."

[Hrvat4]

in regard to the paying fees to one govt entity versus another: I dont believe OTC is a government entity but rather a third party market thats regulated by the govt. Therefore they would need to pay fees to OTCM to be in good standing with them as well. They have been focused on edgar because thats whats needed to get the at actual markets such as NASDAQ and NYSE, etc