Comparing Limited Info Tier vs. Current Info Tier
Post# of 768
Posted On: 05/15/2014 1:22:46 PM
Comparing Limited Info Tier vs. Current Info Tier at OTC Pinks. Initial and ongoing qualifications for the respective tiers as set down by OTC Markets:
-- OTC Pink - Limited Information Tier (Qualifications) --
Companies that make the information described below publicly available within the prior 6 months qualify for the Limited Information Tier.
Subscribe to the OTC Disclosure & News Service on www.OTCIQ.com to publish your financial reports and material news.
Create a Quarterly Report or Annual Report for a fiscal period ended within the previous 6 months, save it in PDF format and upload it via OTCIQ.com. The
Quarterly Report or Annual Report includes: Balance Sheet, Income Statement, and Total Number of Issued and Outstanding Shares.
Financial statements must be prepared in accordance with US GAAP, but are not required to be audited.
Note: Cash Flow Statements are not required to qualify for the Limited Information tier. However, unless the financial statements include a Cash Flow Statement, no financial data will be included in the OTC Financials Data Service.
The OTC Financials Data Service distributes company financial data to online investor portals and makes the data available on your company’s Financials tab on otcmarkets.com.
A company in the Limited Information tier may, but is not required to, include information in accordance with the OTC Pink Basic Disclosure Guidelines.
(Note: 90-day and 45-day filing window requirements for annual and quarterly reports, respectively, do not apply to OTC Limited Information Pink Tier where ongoing qualification requires filing annual or quarterly report within 6 months of end of period.)
--OTC Pink - Current Information Tier (Qualifications)--
Companies that make the information described below publicly available on a timely basis (90 days after fiscal year end for Annual Reports; 45 days after each fiscal quarter end for Quarterly Reports) qualify for the Current Information Tier.
Initial Qualification:
1. Subscribe to the OTC Disclosure & News Service on OTCIQ.com to publish your financial reports and material news.
2. Create the following documents, save them in PDF format and upload them via OTCIQ.com
2a. Annual Financial statements must Include: Balance Sheet, Income Statement, Statement of Cash Flows, Notes to Financial Statements for the previous two fiscal years. If these reports are audited, please attach the audit letter from the PCAOB registered audit firm.
2b. Each year’s Annual Financial statements should be posted separately under the report type “Annual Report” in OTCIQ.
2c. Any subsequent Quarterly Reports since the most recent Annual Report.
The most recent fiscal period end report should also include information in accordance with the OTC Pink Basic Disclosure Guidelines.
Financial reports must be prepared according to U.S. GAAP, but are not required to be audited to qualify for OTC Pink Current Information tier.
3. If financial reports are not audited by a PCAOB registered audit firm:
Submit a signed Attorney Letter Agreement (first two pages of the Attorney Letter Guidelines).
After following the appropriate procedures with a qualified attorney, upload an Attorney Letter complying with Attorney Letter Guidelines through your otciq.com account.
Ongoing Qualification:
Ongoing Qualification:
1. For each Fiscal Quarter End, upload a Quarterly Report via OTCIQ.com within 45 days of the quarter end. A separate quarterly report is not required for the 4th quarter.
The Quarterly Report should include:
Information in accordance with these OTC Pink Basic Disclosure Guidelines.
Quarterly financial statements (Balance Sheet, Income Statement, Statement of Cash Flows, Notes to Financial Statements).
Financial reports must be prepared according to U.S. GAAP, but are not required to be audited.
No Audit Letter or Attorney Letter is required for the quarterly report.
2. For each Fiscal Year End:
2a. Upload an Annual Report within 90 days of the fiscal year end.
2b. The Annual Report should include:
Information in accordance with these OTC Pink Basic Disclosure Guidelines.
Annual financial statements (Balance Sheet, Income Statement, Statement of Cash Flows, Notes to Financial Statements, and Audit Letter, if the financial statements are audited).
Financial reports must be prepared according to U.S. GAAP, but are not required to be audited.
3. If financial reports are not audited by a PCAOB registered audit firm, upload an Attorney Letter via OTCIQ.com complying with the Attorney Letter Guidelines within 120 days.
www.otcmarkets.com
-- OTC Pink - Limited Information Tier (Qualifications) --
Companies that make the information described below publicly available within the prior 6 months qualify for the Limited Information Tier.
Subscribe to the OTC Disclosure & News Service on www.OTCIQ.com to publish your financial reports and material news.
Create a Quarterly Report or Annual Report for a fiscal period ended within the previous 6 months, save it in PDF format and upload it via OTCIQ.com. The
Quarterly Report or Annual Report includes: Balance Sheet, Income Statement, and Total Number of Issued and Outstanding Shares.
Financial statements must be prepared in accordance with US GAAP, but are not required to be audited.
Note: Cash Flow Statements are not required to qualify for the Limited Information tier. However, unless the financial statements include a Cash Flow Statement, no financial data will be included in the OTC Financials Data Service.
The OTC Financials Data Service distributes company financial data to online investor portals and makes the data available on your company’s Financials tab on otcmarkets.com.
A company in the Limited Information tier may, but is not required to, include information in accordance with the OTC Pink Basic Disclosure Guidelines.
(Note: 90-day and 45-day filing window requirements for annual and quarterly reports, respectively, do not apply to OTC Limited Information Pink Tier where ongoing qualification requires filing annual or quarterly report within 6 months of end of period.)
--OTC Pink - Current Information Tier (Qualifications)--
Companies that make the information described below publicly available on a timely basis (90 days after fiscal year end for Annual Reports; 45 days after each fiscal quarter end for Quarterly Reports) qualify for the Current Information Tier.
Initial Qualification:
1. Subscribe to the OTC Disclosure & News Service on OTCIQ.com to publish your financial reports and material news.
2. Create the following documents, save them in PDF format and upload them via OTCIQ.com
2a. Annual Financial statements must Include: Balance Sheet, Income Statement, Statement of Cash Flows, Notes to Financial Statements for the previous two fiscal years. If these reports are audited, please attach the audit letter from the PCAOB registered audit firm.
2b. Each year’s Annual Financial statements should be posted separately under the report type “Annual Report” in OTCIQ.
2c. Any subsequent Quarterly Reports since the most recent Annual Report.
The most recent fiscal period end report should also include information in accordance with the OTC Pink Basic Disclosure Guidelines.
Financial reports must be prepared according to U.S. GAAP, but are not required to be audited to qualify for OTC Pink Current Information tier.
3. If financial reports are not audited by a PCAOB registered audit firm:
Submit a signed Attorney Letter Agreement (first two pages of the Attorney Letter Guidelines).
After following the appropriate procedures with a qualified attorney, upload an Attorney Letter complying with Attorney Letter Guidelines through your otciq.com account.
Ongoing Qualification:
Ongoing Qualification:
1. For each Fiscal Quarter End, upload a Quarterly Report via OTCIQ.com within 45 days of the quarter end. A separate quarterly report is not required for the 4th quarter.
The Quarterly Report should include:
Information in accordance with these OTC Pink Basic Disclosure Guidelines.
Quarterly financial statements (Balance Sheet, Income Statement, Statement of Cash Flows, Notes to Financial Statements).
Financial reports must be prepared according to U.S. GAAP, but are not required to be audited.
No Audit Letter or Attorney Letter is required for the quarterly report.
2. For each Fiscal Year End:
2a. Upload an Annual Report within 90 days of the fiscal year end.
2b. The Annual Report should include:
Information in accordance with these OTC Pink Basic Disclosure Guidelines.
Annual financial statements (Balance Sheet, Income Statement, Statement of Cash Flows, Notes to Financial Statements, and Audit Letter, if the financial statements are audited).
Financial reports must be prepared according to U.S. GAAP, but are not required to be audited.
3. If financial reports are not audited by a PCAOB registered audit firm, upload an Attorney Letter via OTCIQ.com complying with the Attorney Letter Guidelines within 120 days.
www.otcmarkets.com
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