A Grey Sheet company is a Pink Sheet company that has not filed a 15c2-11. Due to this fact, all orders to purchase the accompanying stock must be unsolicited and the issue is “non-piggyback” qualified for market makers. This means that each market maker is responsible for conducting their own due diligence and cannot rely upon the due diligence of another market maker who has previously quoted a bid or ask price for the stock.
There are no market makers in a Gray Sheet Company’s stock. It is not listed, traded or quoted on any stock exchange, the OTCBB or the Pink Sheets. Trades in grey market stocks are reported by broker-dealers to FINRA and FINRA distributes the trade data to market data vendors and financial websites so investors can track price and volume. Because grey market securities are not traded or quoted on an exchange or interdealer quotation system, investor's bids and offers are not collected in a central spot so market transparency is diminished and Best Execution of orders is difficult.
Gray Sheet Companies may have been created under questionable legal circumstances.
For these reasons, most professional advisors will advise you to steer clear of attempting to get a Gray Sheet listing.
Yes, I know that TXMC.PK "has been" a pink sheets stock. But Pinksheets listings can be downgraded. Before disputing me (I do not want to go into the whole upgrade/downgrade tutorial) please research this.
We have all been intent on getting TXMC uplisted, but few of us have paid attention to the fact that John has been derelict in all of his reporting, e.g., no insider holdings or insider sales, etc.
Complete dereliction of the minimum reporting standards can lead to downlisting from the pink to the gray.
Trust me, this happens.
Whether or not this has happened in this case is a matter of conjecture, at this time. We'll know soon enough.
I said I would not post again until there is substantial news. To me, downlisting to gray, if it did happen, is substantial.
John needs to act like a real CEO and start doing some of the minimum required reporting. Check it out.
and sort on the symbol column. After you sort by symbol, alphabetically, you will find the place where Tirex would be if it were downlisted. Otherwise called a "tier change". Look at some of the downlistings, such as TVCE, TWAIQ and TWHR. All downlisted from "OTC Pink no information" to "Grey Market".
This may not have happened today, but it is clearly in Tirex's future. Really, it is. Complete dereliction of minimal responsibilities leads to this happening. Look at the "Tier Changes" chart and you will see Tirex's future with clarity.
These are the facts, and not opinion. Study the Pink Sheets rules.
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