Replies to post #96818 on JP 3E Holdings Inc (JPTE)

[Kool Aid Man]

FINRA Rule 6490:
This rule establishes the requirement for companies trading in the OTC markets to inform FINRA about specific corporate actions, including reverse splits.

Timely Notification:
The notification needs to be provided in a timely manner to allow FINRA to fulfill its regulatory obligations and ensure that investors have access to accurate information about the company.

Reverse Split Ratio:
The notification must include the specific ratio of the reverse split (e.g., 1:2, meaning two shares become one).

Public Disclosure:
The company is also required to provide a draft of the required public disclosure announcing the reverse split.

Two Business Days Before Effective Date:
The public disclosure needs to be released at least two business days before the proposed market effective date of the reverse split.

Transparency and Investor Protection:
By requiring these notifications, FINRA aims to provide transparency and protect investors by ensuring they have access to timely and accurate information about corporate actions, including reverse splits.

Check https://otce.finra.org/otce/dailyList > Dividends / Distributions / Splits for announcements. Apparently the days of waking up one day and being blindsided by a R/S are long gone. Now companies have to provide "at least 2 days notice." People would be wise to check FINRA first thing every day or risk being steamrolled.