On May 1 for its OTCQB market, OTC Markets will introduce a new minimum one-cent bid price requirement and will require the company's chief executive or chief financial officer to certify that its reporting obligations are current and that disclosures about shareholdings, officers and corporate profile are correct.
It's going to be tough to get to .01 with so many shares outstanding.
The bid requirement, in which stocks must have been quoted for at least 1 cent daily over a 30-day period or be dropped from the market, aims to ferret out companies that fall prey to dilutive stock fraud schemes and promotions, OTC Markets said.
$10,000 is 200 million shares at .00005
OTC Markets also will charge a one-time $2,500 fee for new applicants and an annual $10,000 fee for companies trading on its markets.
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