$EVSV Status Update: Failed to file 2021 Annual
Post# of 4419
(Total Views: 463)
Posted On: 04/07/2022 1:20:34 PM
$EVSV Status Update:
Failed to file 2021 Annual Report on time by March 31, 2022 so downgraded from OTC Pink Current to OTC Pink Limited.
Just spoke to otcmarkets.com regarding timescale for downgrading to Expert Market if not brought up to date (company did not file for a 15-day extension):
- Under the new rules, companies will have 16 months from the period date (not filing date) of the last Annual Report that was filed (ie Apr 30 2022 for last Annual Report covering period Jan 1 > Dec 31 2020).
- Then they will enter a 15-day grace period to get things right - being in the grace period will be notified on otcmarkets.com under the "Quote" tab.
- This grace period may not necessarily start immediately (negotiations may be ongoing).
- So the fact a company didn't file for a 15-day extension before Mar 31 does not mean they will be moved to the Expert Market on Apr 16 (and effectively stopped for normal retail traders).
There has been a period of inactivity since the former CEO Chris Trina passed away unexpectedly at a relatively young age.
However, a new CEO has now been appointed - Martin S Read:
https://www.otcmarkets.com/stock/EVSV/profile
so we can expect that he will get filings up to date in due course.
Previous upgrading example: $OTTV failed to file reports due by Sep 30, 2021 - was moved from OTC Pink Current > OTC Pink Limited > Expert Market - then started to get filings up to date Mar 8-24, 2022 - filled Attorney Opinion Letter Mar 29, 2022 - ugraded to OTC Pink Current on Apr 6, 2022.
Failed to file 2021 Annual Report on time by March 31, 2022 so downgraded from OTC Pink Current to OTC Pink Limited.
Just spoke to otcmarkets.com regarding timescale for downgrading to Expert Market if not brought up to date (company did not file for a 15-day extension):
- Under the new rules, companies will have 16 months from the period date (not filing date) of the last Annual Report that was filed (ie Apr 30 2022 for last Annual Report covering period Jan 1 > Dec 31 2020).
- Then they will enter a 15-day grace period to get things right - being in the grace period will be notified on otcmarkets.com under the "Quote" tab.
- This grace period may not necessarily start immediately (negotiations may be ongoing).
- So the fact a company didn't file for a 15-day extension before Mar 31 does not mean they will be moved to the Expert Market on Apr 16 (and effectively stopped for normal retail traders).
There has been a period of inactivity since the former CEO Chris Trina passed away unexpectedly at a relatively young age.
However, a new CEO has now been appointed - Martin S Read:
https://www.otcmarkets.com/stock/EVSV/profile
so we can expect that he will get filings up to date in due course.
Previous upgrading example: $OTTV failed to file reports due by Sep 30, 2021 - was moved from OTC Pink Current > OTC Pink Limited > Expert Market - then started to get filings up to date Mar 8-24, 2022 - filled Attorney Opinion Letter Mar 29, 2022 - ugraded to OTC Pink Current on Apr 6, 2022.
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A very apposite motto for those who trade successfully in the OTC market..
All posts are my opinion - trade at your own risk.
A very apposite motto for those who trade successfully in the OTC market..
All posts are my opinion - trade at your own risk.