Every company i know of belongs to an exchange lik

Every company i know of belongs to an exchange like the nasdaq nyse frankfurt various canadian brazilian etc etc exchanges i many other nations

those exchanges are another layer to vet the companies using various formulas and tiers including market cap /income / stockholder requirements-many otc companies are on foreign exchanges also which increases their validity and liquidity

apparently bret wants to bypass that entire system bc of the cost of ca 7500 plus for 1st year under the new rules on otcmarkets.com

brokers or market makers file the 211's as you've pointed out to finra ... now so such stocks can trade

from what i can gather from the june update bret simply wants to file docs w the SEC -skipping the exchange concept and probably the form 211's

what broker or market maker is going to agree to file a form 211 for a company which wants to create a universe of one- the only company which wants to skip the whole exchange foundation of the public company market system-

and finra is not going to accept a form 211 in this situation bc a company has to have a home -which is the exchange its going to be listed and quoted on

without a form 211 the company will not have a market -will not be quoted

All otc stocks on the OTCQB and the OTCQX and a good number of pink current stocks are SEC reporting

(the 2nd major attack against otc stocks occurred in 2014-2015 when otc added 2 requirements to be on the otcqb- a 10000 surcharge payable to otcmarkets.com - a public company which gets ca 40-50% of its income last i looked from the filing fees which it charges companies to be on the otc exchange - big boards charge 150k to 185 k/year to be on thier exchanges- and a min bid price of 1c pps.
Ca 900 companies on the otcqb dropped down to pink current in 2014-2015 rather than pay the 10k surcharge /yr or r/s to get min bid above 1c - those ca 900 companies- or most of them at least -remained sec reporting-this confused many investors to no end

SEC reporting in the trade means http://www.legalandcompliance.com/securities-...companies/

i doubt that NNLX would even qualify - 2000 shareholders etc or 10M assets etc to be SEC reporting in the trade sense

but NNLX certainly has no plans to be SEC reporting in the trade sense-that would literally drive them crazy- and would be far more complicated and far more expensive than paying otc its bribe price for exchange admission like everybody else

as i've said before i dont think they have thought this through-and inventors are sometimes that way-einstein would forget to eat sometimes if somebody didnt bring him food
number one as he calls himself on this board has publicly said bret used to be in the oil industry-perhaps thats where he got his inclination for working on scaffolding-which very few would do at age 70

the mindset from what i can ascertain is one of independence and stubborness(which you need in many ways to be successful) not bookkeeping or accounting or reports-which is where his superlawyer brother -head of strategic analysis- should come in-

but the 2 sentences of the june update re voluntary filing w the sec confused the hell out of me-as if written by somebody who doesnt know how the process works- i know how irritating normal processes are - i'm a pioneer in my own field waiting many decades for ppl to grow up enough to understand the books etc i've written-

but thats not brets problem here- he just has to shell out some money [which NNLX feels it doesnt have] like all other companies now that the otc 'no info' classification has been eliminated in order to be a public reporting company- the powers that be have made a political decision
to eliminate companies who are not willing to follow these processes and regulations- this movement started in ca late 2009

you cant be de-listed if you are not listed -

NNLX is not going to be listed by the SEC in the near future-

they just apparently want to drop docs w the SEC on a voluntary basis to avoid paying otc its bribe price for a listing on otc- but you cant invent a new system
without being in a position of power to do so and they are not in a position to do so

i've tried to warn nnlx for many years through my posts re the lack of filings and 'no info' classification route bc of the many types of harm such does to NNLX

and it would cost NNLX a lot bigger bribe price to bribe a broker or mm to file a form 211 on its behalf -and it would have to be a bribe bc mm's etc are not allowed to charge companies for the form 211 filing- bc mm's etc are not going to file a form 211 for a co that is not going to be on an exchange

i didnt even know the otc market existed until my best friend dragged me into help him bc i had no interest in stocks whatsoever-can you say 'less than zero'- but i saw all the manipulation by mutant groups destroying longs and stocks/companies so i started researching and blogging on the boards - i'm just a laymen in the stock world but i have read literally 1000's if not 10's of thousands of sec docs on thousands of companies and know far more than the stockbrokers i've talked to about the otc etc

so that is my perspective- i'm trying to help nnlx navigate these things without speaking to them bc as a 'no info' company and now a 'grey' company its safer if i have no direct contact w nnlx due to my position on the boards where mutant group have privately and publicly threatened me

even if they somehow could get a form 211 accepted by finra the vast majority of investors will not know NNLX exists bc otc is bay far the largest exchange clearinghouse for usa otc stocks

NNLX could file w frankfurt (ca 40% of usa otc stocks reportedly due to increase liquidity and exposure to investors) or canadian exchanges(route often used by otc mining stocks) but otc usa stocks do that AFTER they have a home base on otcmarkets.com