We'll see if we get busted on this ticker very soon.
I believe this is how it works on OTC. If Annual is late OTC will initiate a 15-day "grace period". If not filed before end of grace period JPEX will immediately be downgraded to EM. OTCM getting very strict about the Annual filing deadline.
Believe me. I have experienced this once already with another OTC ticker. JPEX's fate is in the hands of others. Nothing we common shareholders can do about it.