has this changed then? it lists rule 15c2-11 so I
Post# of 85468
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Posted On: 01/30/2022 3:37:30 PM
has this changed then? it lists rule 15c2-11 so I assume it is current info.
Alternative Reporting Standard:
Pink® Basic Disclosure Guidelines
Federal securities laws, such as Rules 10b-5 and 15c2-11 of the Securities Exchange Act of 1934 (“Exchange Act”) as well as Rule 144 of the Securities Act of 1933 (“Securities Act”), and state Blue Sky laws, require issuers to provide current information to the public markets. With a view to facilitating compliance with these laws, OTC Markets Group has created these Pink Basic Disclosure Guidelines (“Guidelines”). These Guidelines set forth the disclosure obligations that make up the “Alternative Reporting Standard” for Pink companies. These Guidelines have been designed to encompass the “Catch All” information required in Rule 15c2-11, however they have not been reviewed by the U.S. Securities and Exchange Commission or any state securities regulator. We use information provided by companies under these Guidelines to designate the appropriate tier in the Pink Market: Current Information or Limited Information.
These Guidelines may be amended from time to time, in the sole and absolute discretion of OTC Markets Group, with or without notice. The information provided by companies under these Guidelines is subject to our Privacy Policy.
Pink Current Information Tier
Companies that make the information described below publicly available on a timely basis (90 days after fiscal year end for Annual Reports; 45 days after each fiscal quarter end for Quarterly Reports) may qualify for the Current Information Tier.
Qualification Process:
1. Subscribe to the OTC Disclosure & News Service by submitting an OTCIQ Order Form (available on www.otciq.com).
2. Upload the following documents through OTCIQ:
• Quarterly Reports for Current Fiscal Year– must include Disclosure Statement and Financial Reports listed below
• Annual Report for Most Recently Completed Fiscal Year– must include Disclosure Statement and Financial Reports listed below
• Annual Report for Prior Completed Fiscal Year – must include Financial Reports listed below
o Disclosure Statements: Disclosure information pursuant to these Guidelines for the applicable period. (see the fillable form staring on Page 4).
o Financial Statements: Financial reports must be prepared according to U.S. GAAP or International Financial Reporting Standards (IFRS) but are not required to be audited. Required financial statements include:
o Balance Sheet
o Statement of Income
o Statement of Cash Flows
o Statement of Retained Earnings (Statement of Changes in Stockholders’ Equity)
o Notes to Financial Statements
o Audit Letter, if audited
.
3. If financial statements are not audited by a PCAOB registered firm, provide the following:
• Attorney Letter Agreement: Submit a signed Attorney Letter Agreement according to the instructions on www.otcmarkets.com.
• Attorney Letter: After following the appropriate procedures with a qualified attorney, upload an “Attorney Letter With Respect to Current Information” in accordance with the Attorney Letter Guidelines through OTCIQ. Attorney Letters must reference all required reports as set forth in Section 2 above.
4. Verified Profile: Verify the Company Profile through OTCIQ. Profile information includes, but is not limited to, a complete list of officers, directors and service providers, outstanding shares, a business description and contact information.
5. Allow OTC Markets Group to process the posted documents (typically three to five business days) and provide any comments.
6. Companies will be only be evaluated for Current Information once all required documentation has been submitted. A new Attorney Letter is required upon amendment of any referenced report.
7. To qualify for Current Information on an ongoing basis, companies must:
• Upload reports through OTCIQ on the following schedule:
o Quarterly Report within 45 days of the quarter end
o Annual Report within 90 days of the fiscal year end
o Attorney Letter within 120 days of the fiscal year end.
• Maintain a Verified Profile. At least once every six months, review and verify the Company’s profile information through OTCIQ.
Alternative Reporting Standard:
Pink® Basic Disclosure Guidelines
Federal securities laws, such as Rules 10b-5 and 15c2-11 of the Securities Exchange Act of 1934 (“Exchange Act”) as well as Rule 144 of the Securities Act of 1933 (“Securities Act”), and state Blue Sky laws, require issuers to provide current information to the public markets. With a view to facilitating compliance with these laws, OTC Markets Group has created these Pink Basic Disclosure Guidelines (“Guidelines”). These Guidelines set forth the disclosure obligations that make up the “Alternative Reporting Standard” for Pink companies. These Guidelines have been designed to encompass the “Catch All” information required in Rule 15c2-11, however they have not been reviewed by the U.S. Securities and Exchange Commission or any state securities regulator. We use information provided by companies under these Guidelines to designate the appropriate tier in the Pink Market: Current Information or Limited Information.
These Guidelines may be amended from time to time, in the sole and absolute discretion of OTC Markets Group, with or without notice. The information provided by companies under these Guidelines is subject to our Privacy Policy.
Pink Current Information Tier
Companies that make the information described below publicly available on a timely basis (90 days after fiscal year end for Annual Reports; 45 days after each fiscal quarter end for Quarterly Reports) may qualify for the Current Information Tier.
Qualification Process:
1. Subscribe to the OTC Disclosure & News Service by submitting an OTCIQ Order Form (available on www.otciq.com).
2. Upload the following documents through OTCIQ:
• Quarterly Reports for Current Fiscal Year– must include Disclosure Statement and Financial Reports listed below
• Annual Report for Most Recently Completed Fiscal Year– must include Disclosure Statement and Financial Reports listed below
• Annual Report for Prior Completed Fiscal Year – must include Financial Reports listed below
o Disclosure Statements: Disclosure information pursuant to these Guidelines for the applicable period. (see the fillable form staring on Page 4).
o Financial Statements: Financial reports must be prepared according to U.S. GAAP or International Financial Reporting Standards (IFRS) but are not required to be audited. Required financial statements include:
o Balance Sheet
o Statement of Income
o Statement of Cash Flows
o Statement of Retained Earnings (Statement of Changes in Stockholders’ Equity)
o Notes to Financial Statements
o Audit Letter, if audited
.
3. If financial statements are not audited by a PCAOB registered firm, provide the following:
• Attorney Letter Agreement: Submit a signed Attorney Letter Agreement according to the instructions on www.otcmarkets.com.
• Attorney Letter: After following the appropriate procedures with a qualified attorney, upload an “Attorney Letter With Respect to Current Information” in accordance with the Attorney Letter Guidelines through OTCIQ. Attorney Letters must reference all required reports as set forth in Section 2 above.
4. Verified Profile: Verify the Company Profile through OTCIQ. Profile information includes, but is not limited to, a complete list of officers, directors and service providers, outstanding shares, a business description and contact information.
5. Allow OTC Markets Group to process the posted documents (typically three to five business days) and provide any comments.
6. Companies will be only be evaluated for Current Information once all required documentation has been submitted. A new Attorney Letter is required upon amendment of any referenced report.
7. To qualify for Current Information on an ongoing basis, companies must:
• Upload reports through OTCIQ on the following schedule:
o Quarterly Report within 45 days of the quarter end
o Annual Report within 90 days of the fiscal year end
o Attorney Letter within 120 days of the fiscal year end.
• Maintain a Verified Profile. At least once every six months, review and verify the Company’s profile information through OTCIQ.
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