Additional info regarding maintaining minimum bid
Post# of 82686
(Total Views: 553)
Posted On: 03/15/2019 7:23:11 PM
Re: baldeagle1 #51261
Additional info regarding maintaining minimum bid of .01
*taken from the following: https://www.otcmarkets.com/files/otcqb_standards.pdf
2.3 Standards for Continued Eligibility To remain eligible for trading on the OTCQB market, the Company shall meet all the following conditions. A Company is required to notify OTC Markets Group immediately upon learning of an event or circumstance that causes noncompliance with these Standards for Continued Eligibility:
1) Current Disclosure. Maintain compliance with the Company’s ongoing disclosure obligations under Section 2.2 of these OTCQB Standards;
2) Bid Price. Maintain proprietary priced quotations published by a Market Maker in OTC Link with a minimum closing bid price of $0.01 per share on at least one of the prior thirty consecutive calendar days;
4.1 Removal of OTCQB Companies for Failure to Meet Requirements 1) OTC Markets Group may remove the Company’s securities from trading on the OTCQB market for the Company’s failure to meet the requirements set forth in Section 2 of these OTCQB Standards or any other obligations under these OTCQB Standards, which determination shall be made by OTC Markets Group in its sole and absolute discretion, unless such failure is cured within the time frames set forth below:
b. Bid Price Deficiency. Companies are granted a cure period of 90 calendar days for failure to maintain the minimum bid price set forth in Section 2.3(2). In the event that the minimum closing bid price for the Company’s common stock falls below $0.01 per share for 30 consecutive days, a grace period of 90 calendar days to regain compliance shall begin, during which the minimum closing bid price for the Company’s common stock must be $0.01 or greater for ten consecutive trading days. In the event that the Company’s closing bid price falls below $0.001 at any time for five consecutive trading days, the Company will be immediately removed from OTCQB.
So based on the above, it appears the 180 days is comprised of two 90 periods. One is referred to as a "cure period", and subsequently if needed, a "grace period".
*taken from the following: https://www.otcmarkets.com/files/otcqb_standards.pdf
2.3 Standards for Continued Eligibility To remain eligible for trading on the OTCQB market, the Company shall meet all the following conditions. A Company is required to notify OTC Markets Group immediately upon learning of an event or circumstance that causes noncompliance with these Standards for Continued Eligibility:
1) Current Disclosure. Maintain compliance with the Company’s ongoing disclosure obligations under Section 2.2 of these OTCQB Standards;
2) Bid Price. Maintain proprietary priced quotations published by a Market Maker in OTC Link with a minimum closing bid price of $0.01 per share on at least one of the prior thirty consecutive calendar days;
4.1 Removal of OTCQB Companies for Failure to Meet Requirements 1) OTC Markets Group may remove the Company’s securities from trading on the OTCQB market for the Company’s failure to meet the requirements set forth in Section 2 of these OTCQB Standards or any other obligations under these OTCQB Standards, which determination shall be made by OTC Markets Group in its sole and absolute discretion, unless such failure is cured within the time frames set forth below:
b. Bid Price Deficiency. Companies are granted a cure period of 90 calendar days for failure to maintain the minimum bid price set forth in Section 2.3(2). In the event that the minimum closing bid price for the Company’s common stock falls below $0.01 per share for 30 consecutive days, a grace period of 90 calendar days to regain compliance shall begin, during which the minimum closing bid price for the Company’s common stock must be $0.01 or greater for ten consecutive trading days. In the event that the Company’s closing bid price falls below $0.001 at any time for five consecutive trading days, the Company will be immediately removed from OTCQB.
So based on the above, it appears the 180 days is comprised of two 90 periods. One is referred to as a "cure period", and subsequently if needed, a "grace period".
(2)
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