Post I just made on the amateur forum debunking no
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Posted On: 09/05/2023 9:00:31 AM
Post I just made on the amateur forum debunking nonsense about $SFLM's Filing Status.
$SFLM Filing status - debunking nonsense:
$SFLM has adopted the Alternative Reporting Standard.
https://www.otcmarkets.com/stock/SFLM/profile
OTC Markets Group has confirmed that this company has limited disclosure or financial information publicly available, but meets a minimum requirement for public quoting under Rule 15c2-11.
https://www.otcmarkets.com/stock/SFLM/overview
The OTC Market Disclosure Process is as follows:
The Disclosure Process
For broker-dealers to publicly publish their price quotations, a public company must fully provide basic investor information per SEC Rule 15c2-11 and our ARS disclosure guidelines. In our role as a Qualified Interdealer Quotation System, we monitor ongoing company disclosure and identify for broker-dealers which securities have made the required information publicly available.
Simply publishing a report does not automatically result in a tier/status change for a given security. Rather, once a report is published, an analyst will first process it to confirm the availability of information required under SEC Rule 15c2-11 standards. For companies utilizing the Alternative Reporting Standard, we confirm that the requirements of the Pink Basic Disclosure Guidelines for the Current Information and Limited Information tiers are met.
When our analysts identify incomplete company disclosure, errors, or inconsistencies within company disclosures, we notify the company and work with them to submit the amended disclosures.
OTC Markets does not conduct merit reviews. Our automated processes and analyst procedures are designed to monitor that a baseline of required information is publicly available in a consistent format. Importantly, companies that do not wish to undertake this process to qualify for the Pink Current or Pink Limited designation under the Alternative Reporting Standard always have the option to register their securities and become SEC Reporting, or have their securities quoted on the Expert Market.
To meet the minimum information standards for Rule 15c2-11 and to qualify for Pink Limited or Pink Current, companies must publish financial statements for the Fiscal Year-End within the past 16 months.
https://blog.otcmarkets.com/2021/12/15/an-inv...isclosure/
So neither Quarterly Reports nor an Attorney Opinion Letter are required to remain OTC Pink Limited indefinitely until the 16 months after the next year-End Report is due.
$SFLM Filing status - debunking nonsense:
$SFLM has adopted the Alternative Reporting Standard.
https://www.otcmarkets.com/stock/SFLM/profile
OTC Markets Group has confirmed that this company has limited disclosure or financial information publicly available, but meets a minimum requirement for public quoting under Rule 15c2-11.
https://www.otcmarkets.com/stock/SFLM/overview
The OTC Market Disclosure Process is as follows:
The Disclosure Process
For broker-dealers to publicly publish their price quotations, a public company must fully provide basic investor information per SEC Rule 15c2-11 and our ARS disclosure guidelines. In our role as a Qualified Interdealer Quotation System, we monitor ongoing company disclosure and identify for broker-dealers which securities have made the required information publicly available.
Simply publishing a report does not automatically result in a tier/status change for a given security. Rather, once a report is published, an analyst will first process it to confirm the availability of information required under SEC Rule 15c2-11 standards. For companies utilizing the Alternative Reporting Standard, we confirm that the requirements of the Pink Basic Disclosure Guidelines for the Current Information and Limited Information tiers are met.
When our analysts identify incomplete company disclosure, errors, or inconsistencies within company disclosures, we notify the company and work with them to submit the amended disclosures.
OTC Markets does not conduct merit reviews. Our automated processes and analyst procedures are designed to monitor that a baseline of required information is publicly available in a consistent format. Importantly, companies that do not wish to undertake this process to qualify for the Pink Current or Pink Limited designation under the Alternative Reporting Standard always have the option to register their securities and become SEC Reporting, or have their securities quoted on the Expert Market.
To meet the minimum information standards for Rule 15c2-11 and to qualify for Pink Limited or Pink Current, companies must publish financial statements for the Fiscal Year-End within the past 16 months.
https://blog.otcmarkets.com/2021/12/15/an-inv...isclosure/
So neither Quarterly Reports nor an Attorney Opinion Letter are required to remain OTC Pink Limited indefinitely until the 16 months after the next year-End Report is due.
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"Per Ardua Ad Astra" - "Through Adversity To The Stars"
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.