This post contains a summary of the conversation I
Post# of 85521
I called the OTC Compliance Department and said that a stock in which I was heavily invested had just had its Q2 numbers posted under the financials tab of the OTC website. I asked if that meant that the company would become current today or tomorrow? She responded that it would probably be another week.
To that, I asked, "It takes a week after the financials are input by OTC to approve it to be Current? I didn't realize it would take that long. I thought it would be quicker."
She asked: "What is the ticker?"
I said "UNVC".
She looked it up, and after about 30 seconds of dead air, I asked, "Are you there?"
She said: "Yes, it looks like the latest Attorney Letter was uploaded on August 27."
I said, "That's correct."
She said, "It has not been reviewed, yet. I would expect it to be reviewed today or tomorrow."
I said, "Really, it hasn't been reviewed?"
She said "No."
I asked, "When it is reviewed, will we be able to go Current or are there any Red Flags?"
She said, "I don't see anything that would hold this up. But, when they review the Attorney Letter, they will contact the CEO if they have any problems that need to be corrected."
I asked, "And you thought that review should happen today or tomorrow."
She said, "Yes, we've been busy with thousands of submissions, and we're running long, but generally it should be about five business days to review."
I asked, "If there are no problems, and the OTC analyst marks the ticker as 'Pink-Current', will that update on the OTC website in real-time?"
She said, "No, the status changes are updated overnight and will go into effect 'pre-market' the next business day. So, if, for example, there were no problems and it was reviewed and everything was approved tonight, then the 'Pink-Current' would show up by tomorrow morning, pre-market."
I have to emphasize, that although the representative was looking at UNVC while we were talking, she did not open or review any documents. There could still be issues that have to be corrected, so if it does not turn Pink-Current by Tuesday morning, I'm not worried at all. I just found some relief in that the latest Attorney Letter from August 27 had not been reviewed by OTC, yet, and it appears that is at least one reason why we are not "Pink-Current" yet.