OTCQB Fees = $10K a year
Post# of 9144
Posted On: 12/21/2014 7:05:28 PM
OTCQB Fees = $10K a year
OTCM stock traded a total of 770 shares at $14+ on Friday and have a board here on Investors Hangout with very little activity.
I got curious and poked around a little more and see that OTCQB fees are $10K a year according to Wikipedia.
Wikipedia says:
OTCQB[edit]
Effective May 1, 2014, OTCQB will be implementing a one penny ($0.01) bid price requirement which is "intended to remove companies that are most likely to be the subject of dilutive stock fraud schemes and promotions." Each company verifies via an annual OTCQB Certification, signed by the company CEO or CFO, that their company information is current. This will include information about a company’s reporting status, company profile, information on management and boards, major shareholders, law firms, transfer agents, and IR / PR firms. Investor confidence improves when there is more information about a company’s ownership structure, professional advisors and service providers. This certification will be required for any security newly qualified to be publicly quoted by a broker-dealer under SEC Rule 15c2-11, or when an OTC Pink traded company becomes a current SEC reporting company, beginning May 1, 2014. For companies already traded on OTCQB, there will be an annual management certification requirement throughout 2014 and 2015 based on a company’s Fiscal Year End ("FYE"
. The first set of certifications will be due by July 31, 2014 for companies that have a FYE of March 31, 2014. Also beginning May 1, 2014, International Reporting companies may upgrade from OTC Pink to OTCQB if they publish their 12g3-2(b) compliant disclosure on our website and verify their company profile. There will be an annual fee for the OTCQB marketplace of $10,000 per year and a one-time $2,500 application fee. These fees are discounted for current OTCQB companies that apply in 2014 to $7,500 per year for the first two years, and the application fee will be waived. Companies that are not currently OTCQB companies will be required to pay the standard annual fee and application fee.[15]
OTCM stock traded a total of 770 shares at $14+ on Friday and have a board here on Investors Hangout with very little activity.
I got curious and poked around a little more and see that OTCQB fees are $10K a year according to Wikipedia.
Wikipedia says:
OTCQB[edit]
Effective May 1, 2014, OTCQB will be implementing a one penny ($0.01) bid price requirement which is "intended to remove companies that are most likely to be the subject of dilutive stock fraud schemes and promotions." Each company verifies via an annual OTCQB Certification, signed by the company CEO or CFO, that their company information is current. This will include information about a company’s reporting status, company profile, information on management and boards, major shareholders, law firms, transfer agents, and IR / PR firms. Investor confidence improves when there is more information about a company’s ownership structure, professional advisors and service providers. This certification will be required for any security newly qualified to be publicly quoted by a broker-dealer under SEC Rule 15c2-11, or when an OTC Pink traded company becomes a current SEC reporting company, beginning May 1, 2014. For companies already traded on OTCQB, there will be an annual management certification requirement throughout 2014 and 2015 based on a company’s Fiscal Year End ("FYE"
. The first set of certifications will be due by July 31, 2014 for companies that have a FYE of March 31, 2014. Also beginning May 1, 2014, International Reporting companies may upgrade from OTC Pink to OTCQB if they publish their 12g3-2(b) compliant disclosure on our website and verify their company profile. There will be an annual fee for the OTCQB marketplace of $10,000 per year and a one-time $2,500 application fee. These fees are discounted for current OTCQB companies that apply in 2014 to $7,500 per year for the first two years, and the application fee will be waived. Companies that are not currently OTCQB companies will be required to pay the standard annual fee and application fee.[15]
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