RE: GREAT EXPECTATIONS FOR REVO:
FYI: Info for longs hoping for a quick resolution to REVO's current Grey Market situation:
Example of a stock recently restored from the Grey Sheets to the Pink Sheets with a FINRA (form 211) upgrade (PHOT).
Note: REVO needs a form 211 tier upgrade to be reinstated to the Pink Sheets on OTC Markets.
PHOTs Market Maker filed a 15c2-11 (211 form) in August 2014 and PHOT (a marijuana play) was just upgraded to the OTCBB yesterday 2/18/16, which means that the whole upgrade process from grey market to the OTCBB with FINRA was very slow and took about a year and a half (after the 211 was filed with FINRA).
Conclusions:
1) it IS POSSIBLE to get off the Grey Market, PHOT has done it! It's not a forever doom and gloom situation for REVO as some would have you believe!!!
2 It TAKES A LONG, LONG TIME for FINRA TO APPROVE A 211 tier market upgrade. REVO's 211 upgrade process may be slightly longer or shorter that PHOT's. But if PHOT's 211 upgrade time is typical, we have a long wait ahead of us.
3) If you are a REVO LONG, PLAN ON BEING ONE FOR MUCH LONGER.
REVO TIMETABLE:
1) REVO received a 10 day suspension from the SEC from 6/17/15 -6/30/15. After that it was sent to the Grey Sheets for trading.
2) As of today 2/19/16 no form 211 has been filed with FINRA.
$PHOT IS BACK AND FINRA APPROVED
2/18/16
SEATTLE--(BUSINESS WIRE)-- GrowLife, Inc. (OTCBB: PHOT), one of the nation’s most recognized cultivation service providers, today announced that its common stock has resumed quotation on the OTC Bulletin Board after receiving clearance from the Financial Industry Regulatory Authority (“FINRA”) on its Form 15c2-11.
“GrowLife was notified yesterday that FINRA approved a market maker who filed a 15c2-11 in August 2014,” stated Marco Hegyi, President of GrowLife. “We are pleased to clear this important hurdle of restoring trading in GrowLife on the OTCBB. Re-listing on the OTCBB will allow us to enhance liquidity in the stock and attract additional market makers and institutional investors. We plan to expeditiously apply for uplisting on the OTCQB to further these goals.”
PHOT TIMETABLE:
1) PHOT received a 10-day suspension from the SEC from 4/10/14 - 4/24/14. After that it was sent to the Grey Sheets for trading.
2) In August of 2014 PHOT filed Form 211 with FINRA
3) On 2/18/16 PHOT was reinstated by FINRA to OTCBB Pink status
FYI: Info for longs hoping for a quick resolution to REVO's current Grey Market situation:
Example of a stock recently restored from the Grey Sheets to the Pink Sheets with a FINRA (form 211) upgrade (PHOT).
Note: REVO needs a form 211 tier upgrade to be reinstated to the Pink Sheets on OTC Markets.
PHOTs Market Maker filed a 15c2-11 (211 form) in August 2014 and PHOT (a marijuana play) was just upgraded to the OTCBB yesterday 2/18/16, which means that the whole upgrade process from grey market to the OTCBB with FINRA was very slow and took about a year and a half (after the 211 was filed with FINRA).
Conclusions:
1) it IS POSSIBLE to get off the Grey Market, PHOT has done it! It's not a forever doom and gloom situation for REVO as some would have you believe!!!
2 It TAKES A LONG, LONG TIME for FINRA TO APPROVE A 211 tier market upgrade. REVO's 211 upgrade process may be slightly longer or shorter that PHOT's. But if PHOT's 211 upgrade time is typical, we have a long wait ahead of us.
3) If you are a REVO LONG, PLAN ON BEING ONE FOR MUCH LONGER.
REVO TIMETABLE:
1) REVO received a 10 day suspension from the SEC from 6/17/15 -6/30/15. After that it was sent to the Grey Sheets for trading.
2) As of today 2/19/16 no form 211 has been filed with FINRA.
$PHOT IS BACK AND FINRA APPROVED
2/18/16
SEATTLE--(BUSINESS WIRE)-- GrowLife, Inc. (OTCBB: PHOT), one of the nation’s most recognized cultivation service providers, today announced that its common stock has resumed quotation on the OTC Bulletin Board after receiving clearance from the Financial Industry Regulatory Authority (“FINRA”) on its Form 15c2-11.
“GrowLife was notified yesterday that FINRA approved a market maker who filed a 15c2-11 in August 2014,” stated Marco Hegyi, President of GrowLife. “We are pleased to clear this important hurdle of restoring trading in GrowLife on the OTCBB. Re-listing on the OTCBB will allow us to enhance liquidity in the stock and attract additional market makers and institutional investors. We plan to expeditiously apply for uplisting on the OTCQB to further these goals.”
PHOT TIMETABLE:
1) PHOT received a 10-day suspension from the SEC from 4/10/14 - 4/24/14. After that it was sent to the Grey Sheets for trading.
2) In August of 2014 PHOT filed Form 211 with FINRA
3) On 2/18/16 PHOT was reinstated by FINRA to OTCBB Pink status
