I wouldn't worry about it because it's a penny stock. At least they are filing proper paperwork when running late on their quarterly financials. Many OTC stocks are not transparent as they either have NDA's or waiting for the right time to release information. As long as they comply with regulations and their sign continues to say PINK, we are good.

Here's some more info:

SEC Rule 15c2-11 governs the submission and publication of quotations for certain over-the-counter (OTC) securities. Here’s what it means in layman’s terms:

Quotation Requirements: Before a broker-dealer can publish a quote for buying or selling a stock that trades on the OTC market, they must gather and review specific information about the company.

Information Disclosure: This information includes the company’s financial statements, details about its business, and other important data that can help investors make informed decisions.

Market Integrity: The rule is designed to ensure that there is a minimum level of transparency and integrity in the OTC market, which is typically less regulated than major stock exchanges.

In essence, Rule 15c2-11 helps protect investors by requiring that certain information about a company is available and reviewed before its stock can be quoted for trading in the OTC market.