Two completely different entities yes, but the truth sits in the middle: the SEC sets the rules, OTC applies the flag when the numbers check out.
The SEC doesn’t hand-pick or “certify” individual companies as penny stock exempt in a direct sense but what it does is set the criteria. OTC then applies those criteria when it tags a ticker.
So technically, the SEC isn’t saying RITE’s assets are significant, it’s that RITE’s filings show net tangible assets or revenues high enough to trigger the exemption rule.
Theres a nuance…OTC can’t just make it up….the company’s own financials (as disclosed to the SEC and OTC) have to meet the SEC’s exemption thresholds.
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