Here's a strange one (Warning: BORING OTC Ticker T
Post# of 27284
(Total Views: 337)
Posted On: 05/20/2020 10:22:39 PM
Here's a strange one (Warning: BORING OTC Ticker Talk): BSYN
BSYN: a ticker trading on the gray sheets that was fully current with SEC filings was deleted by FINRA today. Apparently, they existed for decades and their audited 10Ks and 10Qs were always current.
Perhaps the low volume and trade dormancy triggered new automation logic set in place by FINRA. So.. I don't blame FINRA for deleting the ticker at all. That's how most dead OTC tickers are cleaned up but this one was an SEC registrant with current filings. So contradictory and funny!
An OTC stock can desist to exist two ways:
1. SEC revokes the stock registration OR
2. FINRA deletes the ticker symbol.
This one last traded in 2018 so it was clearly a low/no volume stock with no trades in well over a year
First time to see this scenario. Even puzzles the bashers over across the pond. Why would this company keep SEC filings current but not work at acquiring a market maker to market the stock?!
A couple things to note?
The OS is very low on this stock. Insiders might have held all the shares just to keep the stock SEC current. Being an SEC current company with a profiting business is a marketing pitch to customers. (Did not want the stock to trade). Being SEC current sounds great, Kinda like how a business with a HITRUST Certification dealing with sensitive data appeals to customers looking for new business partners in the IT field. This was definitely a shady situation.
Bottom line: These guys easily could have filed for a market maker to attain OTC Pink Current status and another thing to remember is that FINRA can delete any ticker from the gray sheets regardless of status due to non volatility. Generally no trades over a year is subject to removal.
BSYN: a ticker trading on the gray sheets that was fully current with SEC filings was deleted by FINRA today. Apparently, they existed for decades and their audited 10Ks and 10Qs were always current.
Perhaps the low volume and trade dormancy triggered new automation logic set in place by FINRA. So.. I don't blame FINRA for deleting the ticker at all. That's how most dead OTC tickers are cleaned up but this one was an SEC registrant with current filings. So contradictory and funny!
An OTC stock can desist to exist two ways:
1. SEC revokes the stock registration OR
2. FINRA deletes the ticker symbol.
This one last traded in 2018 so it was clearly a low/no volume stock with no trades in well over a year
First time to see this scenario. Even puzzles the bashers over across the pond. Why would this company keep SEC filings current but not work at acquiring a market maker to market the stock?!
A couple things to note?
The OS is very low on this stock. Insiders might have held all the shares just to keep the stock SEC current. Being an SEC current company with a profiting business is a marketing pitch to customers. (Did not want the stock to trade). Being SEC current sounds great, Kinda like how a business with a HITRUST Certification dealing with sensitive data appeals to customers looking for new business partners in the IT field. This was definitely a shady situation.
Bottom line: These guys easily could have filed for a market maker to attain OTC Pink Current status and another thing to remember is that FINRA can delete any ticker from the gray sheets regardless of status due to non volatility. Generally no trades over a year is subject to removal.
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