Posted On: 12/21/2015 12:59:36 PM
Post# of 2290
Companies with Limited Information status on OTC Markets are delineated by a “yield” sign and post some financial and basic information about the company on the OTC Markets website, but either do not report to the SEC or do not include enough information to satisfy the Current Information requirements. The minimum disclosure requirements necessary to maintain Limited Information status include:
• Posting quarterly and annual reports that are no older than 6 months and that include a balance sheet, income statement and total number of issued and outstanding shares;
• Financial statements must be prepared in accordance with GAAP; and
• The company profile page on OTC Markets website must be current and accurate.
In addition, to maintain Limited information status, a company must subscribe to the OTC Disclosure & News Service with an annual fee of $4,200 and a one-time set-up fee of $500.
Because of the aforementioned criteria, details determine diligence, and it is highly advisable for Issuers to retain an OTC securities attorney or a small-cap law firm to stay in compliance with OTCMarkets.com. Pink Sheet Attorney.
• Posting quarterly and annual reports that are no older than 6 months and that include a balance sheet, income statement and total number of issued and outstanding shares;
• Financial statements must be prepared in accordance with GAAP; and
• The company profile page on OTC Markets website must be current and accurate.
In addition, to maintain Limited information status, a company must subscribe to the OTC Disclosure & News Service with an annual fee of $4,200 and a one-time set-up fee of $500.
Because of the aforementioned criteria, details determine diligence, and it is highly advisable for Issuers to retain an OTC securities attorney or a small-cap law firm to stay in compliance with OTCMarkets.com. Pink Sheet Attorney.
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