Excellent 'food for thought' and I agree with some
Post# of 85484
(Total Views: 821)
Posted On: 11/30/2020 4:15:14 PM
Excellent 'food for thought' and I agree with some who've posted it's one of the best to check out Retyr, thanks a bunch for posting!
So I listen, take notes and think about how this information applies to an OTC I'm holding and have 'invested' in ... a real OTC like UNVC which has supplied me FACTS, and third party FACTS at that in the last six months or more especially to make me believe UNVC is REAL, SUPERIOR and with POTENTIAL to be that "diamond in the rough" in the gutter of OTC.
My standout points within this excellent presentation (imho) by pros who know what they're tallking about when it comes to OTC and uplifting (uplisting) to true and better exchanges (whether it be Nasdaq or NYSE):
In 2016 when this presentation was made, Mr. Dave Donohoe of Donohoe Advisory Associates, said it takes 5-7 weeks to uplist to Nasdaq if you're a Goldman-Sachs type of company... later in the video he said the average time is 12 weeks and for some longer with the Nasdaq adopting a rule to charge a $5K fee if it took longer than a year... remember this presentation was nearly five years ago. Well, today with Covid-19 it may take even longer than 12 weeks (three months)??? Mr. Donohoe should do an update as he is a learned and sophisticated speaker regarding uplisting:
https://www.linkedin.com/in/david-a-donohoe-jr-a4b1185/
Also of note within the video is the following comment by OTC Markets Executive V.P. and Head of Corporate Services Jason Paltrowitz (btw he's now Director as of 2018):
https://www.otcmarkets.com/about/our-company/...paltrowitz
https://www.linkedin.com/in/jason-paltrowitz-a870a91/
Dave Feldman of Duane Morris LLP (back in 2016) stated an OTC needs to meet five key criteria or characteristics in order to uplist:
By the way, the following is interesting relative to cbd, hemp etc:
https://www.thinkingoutsidethebud.com/podcast...al%20firms.
More current for Feldman:
https://www.bloomberg.com/profile/person/7328026
Just going back to that last comment from Feldman about the importance of having the right IR firm to build a market and support for an OTC company... as Robert Haig of IRTH Communications said it:
https://www.irthcommunications.com/about-irth/the-team
https://www.linkedin.com/in/robert-haag-7315124/
While this video is almost five years old, I suspect a lot of it still stands; would be nice to see an updated version as to what's changed since and what potential changes may come because as we know the SEC plans to alter OTC yet again:
https://www.sec.gov/news/press-release/2020-212
This new rule is apparently effective as of today so that I believe any and every OTC company now has nine months to generally comply and another two years to get financial information compliance. PLEASE SEC kick a company OFF if it does not comply (wonder if that can happen even for general compliance so in nine months... I'd love that).
Please note the above quotes may not be word for word but you'll find it all in that presentation... and please excuse lengthy post.
So I listen, take notes and think about how this information applies to an OTC I'm holding and have 'invested' in ... a real OTC like UNVC which has supplied me FACTS, and third party FACTS at that in the last six months or more especially to make me believe UNVC is REAL, SUPERIOR and with POTENTIAL to be that "diamond in the rough" in the gutter of OTC.
My standout points within this excellent presentation (imho) by pros who know what they're tallking about when it comes to OTC and uplifting (uplisting) to true and better exchanges (whether it be Nasdaq or NYSE):
In 2016 when this presentation was made, Mr. Dave Donohoe of Donohoe Advisory Associates, said it takes 5-7 weeks to uplist to Nasdaq if you're a Goldman-Sachs type of company... later in the video he said the average time is 12 weeks and for some longer with the Nasdaq adopting a rule to charge a $5K fee if it took longer than a year... remember this presentation was nearly five years ago. Well, today with Covid-19 it may take even longer than 12 weeks (three months)??? Mr. Donohoe should do an update as he is a learned and sophisticated speaker regarding uplisting:
https://www.linkedin.com/in/david-a-donohoe-jr-a4b1185/
Also of note within the video is the following comment by OTC Markets Executive V.P. and Head of Corporate Services Jason Paltrowitz (btw he's now Director as of 2018):
Quote:
Uplisting is done once and needs to be done right. Last year (2015) 47 OTC companies uplisted with 23 of them doing an RS (Reverse Split) and they are down 22% since while the companies that uplisted without an RS are up 7%
https://www.otcmarkets.com/about/our-company/...paltrowitz
https://www.linkedin.com/in/jason-paltrowitz-a870a91/
Dave Feldman of Duane Morris LLP (back in 2016) stated an OTC needs to meet five key criteria or characteristics in order to uplist:
Quote:
Have a great story, great management, strong capital base, strong and wide shareholder base and great advisory team or IR to build market and support.
By the way, the following is interesting relative to cbd, hemp etc:
https://www.thinkingoutsidethebud.com/podcast...al%20firms.
More current for Feldman:
https://www.bloomberg.com/profile/person/7328026
Just going back to that last comment from Feldman about the importance of having the right IR firm to build a market and support for an OTC company... as Robert Haig of IRTH Communications said it:
Quote:
An IR firm tells the story, markets the product (stock) with PRs, roadshows, communication between company management and shareholders to build that shareholder base and can help get institutional investors, etc.
https://www.irthcommunications.com/about-irth/the-team
https://www.linkedin.com/in/robert-haag-7315124/
While this video is almost five years old, I suspect a lot of it still stands; would be nice to see an updated version as to what's changed since and what potential changes may come because as we know the SEC plans to alter OTC yet again:
https://www.sec.gov/news/press-release/2020-212
Quote:
What’s Next?
The Rule will become effective 60 days following publication of the amendments in the Federal Register. The Rule will have a general compliance date that is nine months after the effective date as well as a compliance date that is two years after the effective date regarding provisions to require an issuer’s financial information for the last two fiscal years to be current and publicly available.
This new rule is apparently effective as of today so that I believe any and every OTC company now has nine months to generally comply and another two years to get financial information compliance. PLEASE SEC kick a company OFF if it does not comply (wonder if that can happen even for general compliance so in nine months... I'd love that).
Please note the above quotes may not be word for word but you'll find it all in that presentation... and please excuse lengthy post.
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(1)Univec Conglomerate Inc (UNVC) Stock Research Links
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