I assume - no guarantees- that NNLX will provide the necessary information to upgrade to 'pink current' . If I remember right there were perhaps 900 or more 'no info' and 'limited info' co's.
The powers that be were essentially saying: if you provide the necessary info by June 30 and cooperate to provide further info we deem necessary we will be able to finish the process to upgrade you to pink current and thus continue to receive quotes etc by the sept deadline
the only mention NNLX made re this was in the june 10 update- so if they had just made the decision to upgrade they would not meet the june 30 date -and so would come later in a long line of companies upgrading- as a recent post said nnlx was on p.92 and now on p 37 or so - something like that- you can read that post
most upgrading co's probably submitted their info before NNLX did
normally current pink co's are required to provide an SEC approved attorneys letter/opinion stating that the co had provided info sufficient to meet the regulatory def of 'current info'.
Unless the SEC waived that requirement for this specific purpose SEC approved attorneys would be inundated w work and thus easily could take a while before they could respond to or provide that letter to certain co's (after perusing the financials provided by the companies)
the deadline is Sept 26 or 28 -not td's Aug 13.
if attorneys and other personnel cannot handle the backlog the powers that be should provide an extension for companies currently being processed by overwhelmed authorities as of the sept deadline- no guarantees
in the ff otcbb is a catchall term referring to the otcqx otcqb otc pink etc -any stock not on a big board.
when my friend dragged me into the otc in 2009 there was no otcqx. The current otcqb was called otcbb or 'fully reporting' as in 'SEC reporting' as opposed to the then pink stocks which then were not sec reporting -though after the 2014-2015 change there were many sec reporting pink current stocks downlisted from the otcqb. In fact, there were still 6 companies on an old telephone exchange in 2009- not ecm
https://www.extraordinaryinvestor.com/grey-sheets.html
The powers that be were essentially saying: if you provide the necessary info by June 30 and cooperate to provide further info we deem necessary we will be able to finish the process to upgrade you to pink current and thus continue to receive quotes etc by the sept deadline
the only mention NNLX made re this was in the june 10 update- so if they had just made the decision to upgrade they would not meet the june 30 date -and so would come later in a long line of companies upgrading- as a recent post said nnlx was on p.92 and now on p 37 or so - something like that- you can read that post
most upgrading co's probably submitted their info before NNLX did
normally current pink co's are required to provide an SEC approved attorneys letter/opinion stating that the co had provided info sufficient to meet the regulatory def of 'current info'.
Unless the SEC waived that requirement for this specific purpose SEC approved attorneys would be inundated w work and thus easily could take a while before they could respond to or provide that letter to certain co's (after perusing the financials provided by the companies)
the deadline is Sept 26 or 28 -not td's Aug 13.
if attorneys and other personnel cannot handle the backlog the powers that be should provide an extension for companies currently being processed by overwhelmed authorities as of the sept deadline- no guarantees
in the ff otcbb is a catchall term referring to the otcqx otcqb otc pink etc -any stock not on a big board.
when my friend dragged me into the otc in 2009 there was no otcqx. The current otcqb was called otcbb or 'fully reporting' as in 'SEC reporting' as opposed to the then pink stocks which then were not sec reporting -though after the 2014-2015 change there were many sec reporting pink current stocks downlisted from the otcqb. In fact, there were still 6 companies on an old telephone exchange in 2009- not ecm
https://www.extraordinaryinvestor.com/grey-sheets.html
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