re lack of current financials-some comments
below i've copied the various pink current and below categories from otcmarkets.com
due to financial exigencies and other reasons the majority of public otc companies do NOT have current financials-so NNLX is in the majority there
ca 900 OTCQB co's, sometimes 10000 grey co's, 1000's of no info co's and probably 1000's of limited info co's plus 500 or more skull and bones- otc used to post numbers for each but i havent seen lately
so whereas i'd like to see financials as one of my undergraduate degrees was accounting, i'm just putting this into perspective
of course financials are great for public co's to report but due to said financial exigencies at critical times co's fail to keep reported financials current-this includes many sec reporting co's who thus are relegated to limited info or no info status themselves til they catch up- i'm in 2 of those right now
it cost 10000/yr for otc OTCQB reporting status,4200 for pink current,and years ago a CEO told me otc was charging them 3000/yr for limited info news disclosure service-for these low pennies that can be a lot of money at critical junctures
even when financials are posted- and i've literally looked at thousands of pennies financials- based on the standards we were taught their financials usually look like disasters-thats why pps is pennies and not 50000 times higher!!!!!!
the point and relevancy for such co's is the direction they are taking-is their movement/progress-despite my penchant for financials that movement is more important than current financials for such a development stage co
when my best friends construction co folded due to the great recession, in desperation he got into pennies and made a 40 fold return in 6 months, thus finally dragging me in-but as i quickly looked at the financials of the co's he was trading i was shocked
and told him these co's are bankrupt!!!!
he didnt care and neither did the pps because in these development stage co's other things were more important
many penny co's dont even have a product and many who dont have the means to bring such to fruition-that kind of thing is more important at this stage
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Designed for companies with financial reporting problems, economic distress, or in bankruptcy to make the limited information they have publicly available. The Limited Information category also includes companies that may not be troubled, but are unwilling to provide disclosure pursuant to Pink Basic Disclosure Guidelines. Companies in this category have limited financial information not older than six months available on the OTC Disclosure & News Service or have made a required filing on the SEC's EDGAR system in the previous six months.
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Indicates companies that are not able or willing to provide disclosure to the public markets - either to a regulator, an exchange or OTC Markets Group. Companies in this category do not make Current Information available via OTC Markets Group's News Service, or if they do, the available information is older than six months. This category includes defunct companies that have ceased operations as well as 'dark' companies with questionable management and market disclosure practices. Publicly traded companies that are not willing to provide information to investors should be treated with suspicion and their securities should be considered highly risky.
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Buyer Beware. There is a public interest concern associated with the company, security, or control person which may include but is not limited to a spam campaign, questionable stock promotion, investigation of fraudulent or other criminal activity, regulatory suspensions, or disruptive corporate actions. During the time it is labeled Caveat Emptor, any stock that is not in Pink Current Information will also have its quotes blocked on www.otcmarkets.com.
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"OTC", "Other OTC" or "Grey Market" is a security that is not currently traded on the OTCQX, OTCQB or Pink markets. Broker-dealers are not willing or able to publicly quote OTC securities because of a lack of investor interest, company information availability or regulatory compliance.
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below i've copied the various pink current and below categories from otcmarkets.com
due to financial exigencies and other reasons the majority of public otc companies do NOT have current financials-so NNLX is in the majority there
ca 900 OTCQB co's, sometimes 10000 grey co's, 1000's of no info co's and probably 1000's of limited info co's plus 500 or more skull and bones- otc used to post numbers for each but i havent seen lately
so whereas i'd like to see financials as one of my undergraduate degrees was accounting, i'm just putting this into perspective
of course financials are great for public co's to report but due to said financial exigencies at critical times co's fail to keep reported financials current-this includes many sec reporting co's who thus are relegated to limited info or no info status themselves til they catch up- i'm in 2 of those right now
it cost 10000/yr for otc OTCQB reporting status,4200 for pink current,and years ago a CEO told me otc was charging them 3000/yr for limited info news disclosure service-for these low pennies that can be a lot of money at critical junctures
even when financials are posted- and i've literally looked at thousands of pennies financials- based on the standards we were taught their financials usually look like disasters-thats why pps is pennies and not 50000 times higher!!!!!!
the point and relevancy for such co's is the direction they are taking-is their movement/progress-despite my penchant for financials that movement is more important than current financials for such a development stage co
when my best friends construction co folded due to the great recession, in desperation he got into pennies and made a 40 fold return in 6 months, thus finally dragging me in-but as i quickly looked at the financials of the co's he was trading i was shocked
and told him these co's are bankrupt!!!!
he didnt care and neither did the pps because in these development stage co's other things were more important
many penny co's dont even have a product and many who dont have the means to bring such to fruition-that kind of thing is more important at this stage
Pink Market
The Open Market
The Pink® Open Market offers trading in a wide spectrum of equity securities through any broker. This market is for all types of companies that are there by reasons of default, distress or design, which is why they are further sub-categorized by the levels of information that they provide.
Current Information
Companies may be categorized in Current Information by following the International Reporting Standard, which requires the company to be listed on a Qualifying Foreign Exchange that requires periodic disclosure filings, or by following the Alternative Reporting Standard by making filings publicly available through the OTC Disclosure & News Service pursuant to the Pink Basic Disclosure Guidelines. The Current Information category is based on the level and timely availability of disclosure and is not a designation of quality or investment risk.
OTC Pink Limited Information Logo
Limited Information
Designed for companies with financial reporting problems, economic distress, or in bankruptcy to make the limited information they have publicly available. The Limited Information category also includes companies that may not be troubled, but are unwilling to provide disclosure pursuant to Pink Basic Disclosure Guidelines. Companies in this category have limited financial information not older than six months available on the OTC Disclosure & News Service or have made a required filing on the SEC's EDGAR system in the previous six months.
OTC Pink No Information Logo
No Information
Indicates companies that are not able or willing to provide disclosure to the public markets - either to a regulator, an exchange or OTC Markets Group. Companies in this category do not make Current Information available via OTC Markets Group's News Service, or if they do, the available information is older than six months. This category includes defunct companies that have ceased operations as well as 'dark' companies with questionable management and market disclosure practices. Publicly traded companies that are not willing to provide information to investors should be treated with suspicion and their securities should be considered highly risky.
Other Market Designations
Caveat Emptor Logo
Caveat Emptor
Buyer Beware. There is a public interest concern associated with the company, security, or control person which may include but is not limited to a spam campaign, questionable stock promotion, investigation of fraudulent or other criminal activity, regulatory suspensions, or disruptive corporate actions. During the time it is labeled Caveat Emptor, any stock that is not in Pink Current Information will also have its quotes blocked on www.otcmarkets.com.
Grey Market Logo
OTC, Other OTC or Grey Market
"OTC", "Other OTC" or "Grey Market" is a security that is not currently traded on the OTCQX, OTCQB or Pink markets. Broker-dealers are not willing or able to publicly quote OTC securities because of a lack of investor interest, company information availability or regulatory compliance.
Related links
Reporting Requirements
Follow Us
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