The Clock is Ticking
While OTC Pink listing requirements are minimal, the OTC Markets has established specific disclosure requirements for companies quoted on the OTC Pink Current Information tier.
Issuers must file annual and quarterly disclosures (“Information and Disclosure Statements”) as well as updates in order to maintain their assignment to the OTC Pink Current tier. Annual reports must be filed no later than 90 days after the end of each fiscal year and quarterly reports must be filed no later than 45 days after the end of each fiscal quarter.
Additionally, the issuer must file current information updates within 10 business days if:
♦ any of the information contained in a previously filed Information and Disclosure Statement becomes materially inaccurate or incomplete; and
♦ upon the occurrence of certain material events (described below).
Issuers are required to file annual reports 90 days after the end of each fiscal year, providing the following disclosures
♦ General information about the issuer, including the name of the issuer and its predecessor, address of the issuer’s principal executive offices, telephone, facsimile and website, jurisdiction and date of incorporation
♦ Capital structure, including exact title and class of securities issued and outstanding, the number of shares in the public float, par value and a description of each class of outstanding securities, the number of shares or total amount of the securities issued and outstanding for each class of securities the issuer is authorized to issue;
♦ Name and contact information of the transfer agent;
♦ Nature of the issuer’s business, the nature of products or services offered, and the nature and extent of the issuer’s facilities;
♦ Material contracts and contracts that have a value of more than $120,000;
♦ The name of the chief executive officer, members of the board of directors, as well as control persons;
♦ Financial information for the issuer’s most recent fiscal period and similar financial information for such part of the two preceding fiscal years as the issuer or its predecessor has been in existence;
♦ Information regarding persons or entities holding or with a right to hold 5% or more of any class of the issuer’s securities;
♦ Service providers that advise the issuer on matters relating to the operations, business development and OTCMarkets disclosure and reporting requirements;
♦ Management’s discussion and analysis or plan of operation; and
♦ Securities offerings including convertible securities and shares issued for services in the past two years, including the facts surrounding the offering, identity of the recipient, consideration paid and exemption from registration relied upon.
https://www.securitieslawyer101.com/2012/otc-...isclosure/
While OTC Pink listing requirements are minimal, the OTC Markets has established specific disclosure requirements for companies quoted on the OTC Pink Current Information tier.
Issuers must file annual and quarterly disclosures (“Information and Disclosure Statements”) as well as updates in order to maintain their assignment to the OTC Pink Current tier. Annual reports must be filed no later than 90 days after the end of each fiscal year and quarterly reports must be filed no later than 45 days after the end of each fiscal quarter.
Additionally, the issuer must file current information updates within 10 business days if:
♦ any of the information contained in a previously filed Information and Disclosure Statement becomes materially inaccurate or incomplete; and
♦ upon the occurrence of certain material events (described below).
Issuers are required to file annual reports 90 days after the end of each fiscal year, providing the following disclosures
♦ General information about the issuer, including the name of the issuer and its predecessor, address of the issuer’s principal executive offices, telephone, facsimile and website, jurisdiction and date of incorporation
♦ Capital structure, including exact title and class of securities issued and outstanding, the number of shares in the public float, par value and a description of each class of outstanding securities, the number of shares or total amount of the securities issued and outstanding for each class of securities the issuer is authorized to issue;
♦ Name and contact information of the transfer agent;
♦ Nature of the issuer’s business, the nature of products or services offered, and the nature and extent of the issuer’s facilities;
♦ Material contracts and contracts that have a value of more than $120,000;
♦ The name of the chief executive officer, members of the board of directors, as well as control persons;
♦ Financial information for the issuer’s most recent fiscal period and similar financial information for such part of the two preceding fiscal years as the issuer or its predecessor has been in existence;
♦ Information regarding persons or entities holding or with a right to hold 5% or more of any class of the issuer’s securities;
♦ Service providers that advise the issuer on matters relating to the operations, business development and OTCMarkets disclosure and reporting requirements;
♦ Management’s discussion and analysis or plan of operation; and
♦ Securities offerings including convertible securities and shares issued for services in the past two years, including the facts surrounding the offering, identity of the recipient, consideration paid and exemption from registration relied upon.
https://www.securitieslawyer101.com/2012/otc-...isclosure/
