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Posted On: 04/12/2021 11:42:06 AM
Post# of 4861
There is a difference between a public company and a publicly traded company. If the 'Univec Conglomerate' name were to be used a direct listing would still be a possibility, as they are public but not currently publicly traded, especially if as part of the process the 'old' entity was absorbed. If the name is changed via FINRA to match the DE SOS then we know a DL is 100% off the table.
Regular UNVC uplist in terms of process:
• FINRA name change
• Submission of audited accounts, attorney letter
• OTCIQ profile verification
• Pink Current
• Transfer Agent appointed
• Meet uplist criteria
• Apply for NASDAQ
The FINRA name change process is relatively straightforward, normally takes a just a couple of weeks as long as there are no other corporate actions are being processed in tandem with the change.
Any filings submitted in order to have SEC reporting reinstated and achieve current status would be viewable by the public on the OTCM. I have never come across stock that has been reinstated from 'dark' without being able to view these filings - in fact, they are normally celebrated by the company and accompanied by a PR, and rightly so, as reinstatement indicates the company is making progress and moving forward in the right direction.
There would be no point applying for an exchange uplist right now as they simply do not meet the criteria, as such the application would be dismissed on receipt - it would be a bit like a 13 year old applying for a driving permit. More importantly, they would not even accept an application for uplist from a company who is currently dark and non-reporting - as you said - they have to be current, and therefore reporting.
Under normal circumstances, a company who has met the criteria for an upper exchange and duly submitted an uplist application would issue a PR, and also include the information in a public 8K filing. Again, it's to their benefit, letting the shareholders know of a major material change in the operation and potential of the company.
Regular UNVC uplist in terms of process:
• FINRA name change
• Submission of audited accounts, attorney letter
• OTCIQ profile verification
• Pink Current
• Transfer Agent appointed
• Meet uplist criteria
• Apply for NASDAQ
The FINRA name change process is relatively straightforward, normally takes a just a couple of weeks as long as there are no other corporate actions are being processed in tandem with the change.
Any filings submitted in order to have SEC reporting reinstated and achieve current status would be viewable by the public on the OTCM. I have never come across stock that has been reinstated from 'dark' without being able to view these filings - in fact, they are normally celebrated by the company and accompanied by a PR, and rightly so, as reinstatement indicates the company is making progress and moving forward in the right direction.
There would be no point applying for an exchange uplist right now as they simply do not meet the criteria, as such the application would be dismissed on receipt - it would be a bit like a 13 year old applying for a driving permit. More importantly, they would not even accept an application for uplist from a company who is currently dark and non-reporting - as you said - they have to be current, and therefore reporting.
Under normal circumstances, a company who has met the criteria for an upper exchange and duly submitted an uplist application would issue a PR, and also include the information in a public 8K filing. Again, it's to their benefit, letting the shareholders know of a major material change in the operation and potential of the company.
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