Hi Benny743, I think you are correct in what you s
Post# of 5570
Posted On: 04/20/2014 10:15:27 AM
Hi Benny743, I think you are correct in what you say about the rules to up list to the middle tier. Here's a site that talks about the QB status now, and what it will become as of May 1st 2014. I'll first post an excerpt from Geodesic's link. Happy Easter to all MPIX'ers. Here's the excerpt: Beginning May 1, 2014:
• Bid Test: All current OTCQB companies that
do not meet the minimum bid test (minimum
bid price of $0.01 per share as of the close of
business for at least one of the previous thirty
consecutive calendar days) will be removed
from OTCQB beginning May 1 . Here's his link to that: http://www.otcmarkets.com/content/doc/otcqb-fact-sheet.pdf
Here's an excerpt from another website: New OTCQB Eligibility Standards
Bid Price Test
As part of the initial application, both currently listed and prospective companies, regardless of its reporting standard (e.g. SEC Reporting, Bank Reporting, or International Reporting), must have a bid price of $0.01 as of the close of business for each of the previous thirty calendar days. For instance, for a company to maintain or gain its OTCQB status on May 1, the company must first have a minimum bid price of $0.01 per share as of the close of business each day between April 1 and April 30, 2014. Once the company is listed on OTCQB, the company also must meet the minimum bid price of $0.01 per share as of the close of business for at least one of every thirty consecutive calendar days. In other words, upon obtaining OTCQB status, a company cannot be traded below $0.01 for more than twenty-nine consecutive calendar days. Here's the link for this one: http://www.szaferman.com/otcqb_may_2014/ I believe there is a window of opportunity of about ten days to achieve it.
• Bid Test: All current OTCQB companies that
do not meet the minimum bid test (minimum
bid price of $0.01 per share as of the close of
business for at least one of the previous thirty
consecutive calendar days) will be removed
from OTCQB beginning May 1 . Here's his link to that: http://www.otcmarkets.com/content/doc/otcqb-fact-sheet.pdf
Here's an excerpt from another website: New OTCQB Eligibility Standards
Bid Price Test
As part of the initial application, both currently listed and prospective companies, regardless of its reporting standard (e.g. SEC Reporting, Bank Reporting, or International Reporting), must have a bid price of $0.01 as of the close of business for each of the previous thirty calendar days. For instance, for a company to maintain or gain its OTCQB status on May 1, the company must first have a minimum bid price of $0.01 per share as of the close of business each day between April 1 and April 30, 2014. Once the company is listed on OTCQB, the company also must meet the minimum bid price of $0.01 per share as of the close of business for at least one of every thirty consecutive calendar days. In other words, upon obtaining OTCQB status, a company cannot be traded below $0.01 for more than twenty-nine consecutive calendar days. Here's the link for this one: http://www.szaferman.com/otcqb_may_2014/ I believe there is a window of opportunity of about ten days to achieve it.
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