Good question Bill, but don't worry. RMHB is not i
Post# of 75385
(Total Views: 572)
Posted On: 03/17/2021 8:24:23 AM
Re: Borrego bill #67644
Good question Bill, but don't worry. RMHB is not in that boat and will regain OTCQB status very soon. They were working with the SEC to resolve problems they encountered involving the reporting of bottling equipment purchased from Raw Pharma, LLC, and a solution was reached sometime prior to the February 24th press release that updated their status. In the meantime they've been working very hard to grow existing revenue streams and creating some very lucrative new ones that we'll get details on any time now.
Anyhow, there isn't any penalty for companies listed on the pink sheets (unless they refuse to communicate with the SEC) other than not having the fully audited OTCQB status, since having that designation makes them a more appealing investment choice for those investing in OTC companies. Again, RMHB will re-attain that status shortly. Here is a humorous quote I found that summarizes the answer:
"Once a company is delisted, shareholders have a chance to wonder, “Why, why, why did I ever listen to that stock tip from Uncle Lou?” Being delisted from one exchange does not prevent a stock from getting listed on another, but it must meet that exchange’s listing requirements. The stock can also be traded on two different quotation services: the Over the Counter Bulletin Board, which has minimal financial reporting requirements, or on the Pink Sheets, which do not have reporting requirements. Of course, the company could reorganize, turn itself around, get relisted, and prove that Uncle Lou was right after all."
In short, "Uncle Lou" was right. Hang in there, cause relief in the form of concrete proof is on the way.
Anyhow, there isn't any penalty for companies listed on the pink sheets (unless they refuse to communicate with the SEC) other than not having the fully audited OTCQB status, since having that designation makes them a more appealing investment choice for those investing in OTC companies. Again, RMHB will re-attain that status shortly. Here is a humorous quote I found that summarizes the answer:
"Once a company is delisted, shareholders have a chance to wonder, “Why, why, why did I ever listen to that stock tip from Uncle Lou?” Being delisted from one exchange does not prevent a stock from getting listed on another, but it must meet that exchange’s listing requirements. The stock can also be traded on two different quotation services: the Over the Counter Bulletin Board, which has minimal financial reporting requirements, or on the Pink Sheets, which do not have reporting requirements. Of course, the company could reorganize, turn itself around, get relisted, and prove that Uncle Lou was right after all."
In short, "Uncle Lou" was right. Hang in there, cause relief in the form of concrete proof is on the way.
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