NetworkNewsBreaks – Sugarmade Inc. (SGMD) Achiev
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Posted On: 10/23/2019 5:20:19 PM
NetworkNewsBreaks – Sugarmade Inc. (SGMD) Achieves Exempt Status Removing Penny Stock Limitations
Sugarmade (OTCQB: SGMD), a major supplier to the hydroponic cultivation and hemp sectors, today announced that its stock has been awarded “Penny Stock Exempt” status on OTCmarkets.com in accordance with rules defined by the Securities and Exchange Commission (“SEC”). According to OTCmarkets.com, the status means that SGMD stock is now exempt from the limitations that accompany any security defined as a “Penny Stock” according to the SEC under Rule 240.3a51-1 because it meets one of the following: 1) A price of over $5 per share, 2) issuer has at least $6 million in average revenue for the last three years, or 3) issuer has excess of $2 million in net tangible assets if in continuous operations for at least three years or $5 million if less than three years. “It’s gratifying to see that our consistent success has delivered Sugarmade from the limitations associated with Penny Stock status, granting us access to a wider pool of potential investors,” Sugarmade CEO Jimmy Chan said in the news release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Sugarmade (OTCQB: SGMD), a major supplier to the hydroponic cultivation and hemp sectors, today announced that its stock has been awarded “Penny Stock Exempt” status on OTCmarkets.com in accordance with rules defined by the Securities and Exchange Commission (“SEC”). According to OTCmarkets.com, the status means that SGMD stock is now exempt from the limitations that accompany any security defined as a “Penny Stock” according to the SEC under Rule 240.3a51-1 because it meets one of the following: 1) A price of over $5 per share, 2) issuer has at least $6 million in average revenue for the last three years, or 3) issuer has excess of $2 million in net tangible assets if in continuous operations for at least three years or $5 million if less than three years. “It’s gratifying to see that our consistent success has delivered Sugarmade from the limitations associated with Penny Stock status, granting us access to a wider pool of potential investors,” Sugarmade CEO Jimmy Chan said in the news release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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