Had the Verified Profile been kept current by the
Post# of 7110
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Posted On: 03/18/2025 8:54:48 PM
Had the Verified Profile been kept current by the CEO, as $SFLM was on the Alternate Reporting Standard, he wouldn't have had to do anything else except submitting the 2024 Annual Report covering the period to December 31, 2024 by April 30, 2025
https://www.otcmarkets.com/files/15c2-11%20Tier%20Chart.pdf
As previously stated, traders have no visibility on otcmarkets.com when the Company Profile ceases to be Verified within the last 12 months or the reasons for being considered Dark or Defunct - these could be as simple as not paying fees due to otcmarkets.com or not responding to attempts to contact.
For the currently listed CEO (Chad MacKay), or anyone else, who takes over up until the new OTCID system comes in on July 1, 2025, all they would need to do to become OTC Pink Limited again would be to file the 2024 Annual Report and complete one of the new Management Certifications that replaces the Attorney Opinion Letter but also requires a lot of additional detail - for instance declaring any convertible debt or certifying that there is none. Here is a recent example filed for another company: https://www.otcmarkets.com/otcapi/company/fin...17/content
If the CEO did that, he could sell the shell to a company that wanted to go public - other advertised examples are generally offered in the $250K - $500K range.
From July 1, 2025, OTC Pink Current will become OTCID Basic Market and everything else will either be Pink Limited Market or Expert Restricted Market.
Only those that meet the standard for OTCID Basic Market will have a relationship - and therefore fees due to - otcmarkets.com. It has not yet been stated exactly what the qualifications for that are.
However, the rest, Pink Limited Market and Expert Restricted Market, will be able to be traded via any broker-dealers willing to serve clients willing to trade these securities. At present, US-based broker dealers aren't allowed to quote for those on the Expert Market.
https://blog.otcmarkets.com/2024/10/14/the-ev...ing-otcid/
In the meantime, tickers on Expert Market can be bought by traders using offshore accounts like Questrade or Speedtrader - and you can see that happening on at least 2 other tickers that are known to be coming back from Expert Market - one in a matter of days/weeks - the other likely in a few months per a PR that explained the way forward..
https://www.otcmarkets.com/files/15c2-11%20Tier%20Chart.pdf
As previously stated, traders have no visibility on otcmarkets.com when the Company Profile ceases to be Verified within the last 12 months or the reasons for being considered Dark or Defunct - these could be as simple as not paying fees due to otcmarkets.com or not responding to attempts to contact.
For the currently listed CEO (Chad MacKay), or anyone else, who takes over up until the new OTCID system comes in on July 1, 2025, all they would need to do to become OTC Pink Limited again would be to file the 2024 Annual Report and complete one of the new Management Certifications that replaces the Attorney Opinion Letter but also requires a lot of additional detail - for instance declaring any convertible debt or certifying that there is none. Here is a recent example filed for another company: https://www.otcmarkets.com/otcapi/company/fin...17/content
If the CEO did that, he could sell the shell to a company that wanted to go public - other advertised examples are generally offered in the $250K - $500K range.
From July 1, 2025, OTC Pink Current will become OTCID Basic Market and everything else will either be Pink Limited Market or Expert Restricted Market.
Only those that meet the standard for OTCID Basic Market will have a relationship - and therefore fees due to - otcmarkets.com. It has not yet been stated exactly what the qualifications for that are.
However, the rest, Pink Limited Market and Expert Restricted Market, will be able to be traded via any broker-dealers willing to serve clients willing to trade these securities. At present, US-based broker dealers aren't allowed to quote for those on the Expert Market.
https://blog.otcmarkets.com/2024/10/14/the-ev...ing-otcid/
In the meantime, tickers on Expert Market can be bought by traders using offshore accounts like Questrade or Speedtrader - and you can see that happening on at least 2 other tickers that are known to be coming back from Expert Market - one in a matter of days/weeks - the other likely in a few months per a PR that explained the way forward..
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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.