Listing Requirements of the
Over the Counter Bulletin Board - OTCBB

T he stated and un-stated listing requirements for the OTCBB are as follows:

- fully reporting with the Securities and Exchange Commission,

- not a black check or inactive company,

- minimum of 40 stockholders of record holding at least 100 shares each (note: this number is informal and has been moving up), directors, officers, and stockholders will be scrutinized for previous involvements in other OTCBB companies, in particular blank check companies,

- must have a market maker submit 15c211 application to NASD and agree to act as market maker for securities of company.