"Institutional investment institutions won't touch a stock that's listed on OTC..." -- I respectfully disagree with your comment... I worked for nearly 2 decades for a leading institutional investor and I can assure you that industry specific funds would definitely have an interest in a handful of high risk stocks which offer the potential for extremely high returns... In our portfolios we called them the "spice"...
"In order for them to IPO this there would have to be a substantial reduction in the shares of current shareholders..." -- I agree with your statement from a technical perspective but not the implied outcome... I would argue based on my personal investing experience in microcaps that (1) a RS of a stock which REMAINS on the Pink Sheets is nearly always an unmitigated disaster for existing shareholders... however (2) a RS of a stock which SIMULTANEOUSLY UPLISTS TO A FULLY REPORTING EXCHANGE can often be a success for the Company and existing shareholders (yes, I have owned stocks which did exactly this and fared well)...
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