Posted On: 04/04/2014 10:11:09 AM
Post# of 45510
In terms of DD, I have contacted OTC Markets and asked for verification of the new rules regarding the .01 minimum bid price and 30 calendar day window. Here is the response:
Thanks for the question. I know that there is still some confusion on this issue. You’re correct, the company needs to achieve a .01 closing bid price once every 30 days even after the May 1 st , 2014 roll-out period begins to remain on OTCQB. If this company, for example, enacted a reverse split and their closing bid price for today was the only time it was above the .01 mark, they would remain on OTCQB until May 5 th . Each company essentially needs to refresh their bid price eligibility once every 30 days. I hope that makes sense. We will be publishing our rules on OTCQB eligibility shortly, and I am happy to email you a copy as soon as they are available.
Thanks for the question. I know that there is still some confusion on this issue. You’re correct, the company needs to achieve a .01 closing bid price once every 30 days even after the May 1 st , 2014 roll-out period begins to remain on OTCQB. If this company, for example, enacted a reverse split and their closing bid price for today was the only time it was above the .01 mark, they would remain on OTCQB until May 5 th . Each company essentially needs to refresh their bid price eligibility once every 30 days. I hope that makes sense. We will be publishing our rules on OTCQB eligibility shortly, and I am happy to email you a copy as soon as they are available.
Please let me know if you have any other questions.
Sincerely,
Gareth Colglazier
Issuer & Information Services
100 M Street SE, Suite 220
Washington, DC 20003-3506
T +1 (212) 896-4458
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