There is exemption for minimum bid requirement. Read the bold sentence.
http://www.otcqx.com/content/doc/qx/Rules/OTCQX.pdf 2.2 OTCQX U.S. Eligibility Criteria To be considered for admission to the OTCQX U.S. tier of OTCQX, the Company shall:
a) As of the most recent annual or quarterly period end, have $2 million in total
assets and as of the most recent fiscal year end one of the following: (i) $2
million in revenues; (ii) $1 million in net tangible assets; (iii) $500,000 in net
income; or (iv) $5 million in market value of publicly traded securities;
b) Have ongoing operations and shall not be a Shell Company, Blank-Check
Company, Special Purpose Acquisition Company or Development Stage
Company;
c) Not be subject to any Bankruptcy or reorganization proceedings;
d) Be duly organized, validly existing and in good standing under the laws of each
jurisdiction in which the Company is organized or does business;
e) Have at least 50 beneficial shareholders, each owning at least 100 shares of the
Company’s common stock;
f) Have proprietary priced quotations published by a Market Maker in OTC Link;
OTC Markets Group Inc. Page 5 of 28
OTCQX Rules for U.S. Companies (v.6.3 October 20, 2011)
g) Have a minimum bid price of $0.10 per share for its common stock as of the
close of business on each of the 90 consecutive trading days immediately
preceding the Company’s application for OTCQX, provided, however, that in the
event that (i) there has been no prior public market for the Company’s securities
in the U.S. and (ii)