Partly, they don't need to "ASK" that's there right (as dubious as that sounds). But they do need to notify OTC Markets initially and they also must give OTC Markets 10 minute heads up before they go to press with it.
Pink, I was 5 minutes from lah-lah land answering your question. TJ is correct the company applies to FINRA* for the necessary documentation. The documentation clarifies the ratio of the reverse split so that the whole Market (OTC Markets included) is on the same page when the R/S is executed. Here is the link if you need more info grasping the required process. FINRA only approves the application & documentation. AFFU B.O.D. decide whether they will do the R/S or not. The company has THE ABILITY. FINRA has the documentation AFFU must complete then send to FINRA so FINRA can request more info if needed. It's a required formality but the essence is, it's just a paper push.
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