It's more than a minor skin scratch, but the point remains valid that the underlying business fundamentals for GTGP will not change if the MSE acquisition goes through, and Jim gets the financials updated.
We may take a beating in the short run. But a strong business with solid contracts and revenues will foster a strong PPS regardless of where we trade.
It's all in Jim's hands. All we can do is wait and see how he takes this challenge.
It depends on the market where the stock trades. Different rules apply in different markets.
For stocks that quote in the OTC market (which includes stocks quoted on the Bulletin Board and OTC Link (f/k/a Pink Sheets)), quoting does not automatically resume when a ten-day suspension ends. Before OTC stock quoting can resume after a suspension period, SEC regulations require a broker-dealer to review specific information about the company in accordance with Exchange Act Rule 15c2-11 and FINRA Rule 6432. If a broker-dealer does not have confidence that a company’s financial statements are reasonably current and accurate in all material respects, especially in light of the questions that may have been raised by the SEC suspension action, then a broker-dealer may not publish a quote for the company’s stock. The OTC markets function through dealer systems where only broker-dealers may quote and facilitate trading in OTC stocks.
In contrast to stocks that trade in the OTC market, stocks that trade on an exchange resume trading as soon as an SEC suspension ends.
There is actually quite a lot of evidence. I am afraid you just fail to recognize it. Just the refiling of the old bad financials is a obvious and indisputable violation and that is just the start.
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