How an Uplisting Works - TheStreet The OTCQB is the mid-tier OTC equity market, which lists primarily early-stage and developing companies in the U.S. and international markets. MONTREAL, QC / ACCESSWIRE / January 27, 2021 / Sunshine Biopharma Inc. (OTC PINK:SBFM), a pharmaceutical company focused on the research, development and commercialization of oncology and antiviral drugs, today announced that it has successfully completed and submitted the application to uplist to the OTCQB.While the Company is currently a fully reporting issuer trading on . At least two members of the Board of Directors and a majority of the members of the Audit Committee must satisfy the independence requirement within the later of 90 days after the Company begins trading on OTCQB or the time of the Companys next shareholder meeting. What You Can and Cant Say in Holistic Health Facebook Ads? In addition, OTC Markets can temporarily suspend trading on the OTCQB pending investigation or further due diligence review. OTC Markets Group may, at any time and in its sole and absolute discretion, determine that the Company has undergone a Change in Control Event. Alternative Reporting Standard: The reporting standard for a Company incorporated in the U.S. that is not an SEC Reporting Company, Bank Reporting Company, Regulation A Reporting Company or International Reporting Company, and that makes disclosure available through the OTC Disclosure & News Service pursuant to the. Business Warrior Announces Uplisting to OTCQB Venture Market The firm has been approved by OTC Markets Group to serve as a Sponsor for the OTCQX market and continues to satisfy the standards. Contact us now. Notification of Resignation or Dismissal of PAL A company must immediately notify OTC Markets in writing of the resignation or dismissal of the PAL for any reason; Payment of Fees a company must pay its annual fees to OTC Markets; Responding to OTC Markets Group Requests OTCQX quoted companies are required to respond to OTC Markets comments and amend filings as necessary in response thereto; Ongoing Disclosure Obligations (i) Companies subject to the Exchange Act reporting requirements must remain current in such reports; (ii) A company that is not an SEC Reporting Company must remain current and fully compliant in its obligations under Exchange Act Rule 12g3-2(b), if applicable, and in any event shall, on an ongoing basis, post in English through the OTC Disclosure & News Service or an Integrated Newswire, the information required to be made publicly available pursuant to Exchange Act Rule 12g3-2(b); (iii) provide a letter to its PAL at least once a year, no later than 210 days after the fiscal year end which states that the company (y) continues to satisfy the OTCQX quotation requirements; and (z) is current and compliant in its obligations under Exchange Act Rule 12g3-2(b) and that the information required under such rule is posted, in English, on the OTC Markets website or that the company is subject to the SEC reporting requirements and is current in such reporting requirements. The approval process and compliance review can take up to 3-4 weeks after submission of the application. OTCQB Listing, OTCQB Requirements, OTCQB Reporting OTC Markets Group Inc. operates financial markets for 11,000 U.S. and global . Quotation is available for American Depository Receipts (ADRs) or foreign ordinary securities of companies traded on a Qualifying Foreign Stock Exchange. Bei der Nutzung unserer Websites und Apps verwenden wir, unsere Websites und Apps fr Sie bereitzustellen, Nutzer zu authentifizieren, Sicherheitsmanahmen anzuwenden und Spam und Missbrauch zu verhindern, und, Ihre Nutzung unserer Websites und Apps zu messen, personalisierte Werbung und Inhalte auf der Grundlage von Interessenprofilen anzuzeigen, die Effektivitt von personalisierten Anzeigen und Inhalten zu messen, sowie, unsere Produkte und Dienstleistungen zu entwickeln und zu verbessern. The information required to be published electronically under paragraph (b) of this section is information that is material to an investment decision regarding the subject securities, such as information concerning: At a minimum, a foreign private issuer shall electronically publish English translations of the following documents: OTCQX Rules for International Companies Requirements. This time frame is variable and may be shortened considerably, if the application raises no issues and the company responds to staff comments. However, they are still mainly considered to be speculative penny stocks. ALL RIGHTS RESERVED. Q. Alternative Reporting Companies must file, through the OTC Disclosure & News Service, all reports required to be filed pursuant to the OTCQX and OTCQB Disclosure Guidelines, including Quarterly Reports and audited Annual Reports. A company may appoint a new PAL at any time provided they maintain a PAL at all times. OTCQX is the top tier of the three marketplaces for trading over-the-counter stocks provided and operated by the OTC Markets Group. 2517 0 obj <> endobj It doesn't take 90 trading days with a bid above $4 to uplist to Nasdaq. Have U.S. $2 million in total assets as of the most recent annual or quarter end; As of the most recent fiscal year end, have at least one of the following: (i) U.S. $2 million in revenues; (ii) U.S. $1 million in net tangible assets; (iii) U.S. $500,000 in net income; or (iv) U.S. $5 million in global market capitalization; Meet one of the following penny stock exemptions under. Bank reporting companies must meet all the same requirements as all other OTCQB companies except for the SEC reporting requirements. A company needs to either have $2 million dollars in revenue, $1 million tangible assets, $500,000 in net income, or $5 million in market value for the OTCQX. %PDF-1.6 % As a verified market with efficient access for U.S. investors, OTCQB helps companies build shareholder value with the goal of enhancing liquidity and achieving a fair valuation. PHOENIX (August 25, 2022) - Business Warrior Corp. (OTCQB: BZWR), the source for success and long-term growth for small businesses, is pleased to announce its successful uplisting from the OTC Pink Market to the OTCQB Venture Market (the "OTCQB"), effective August 25, 2022. Business Warrior will continue to trade under the ticker symbol . 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The company's OTC stock skyrocketed, gaining 50 percent of market value in the following month. The OTC Pink has slightly lower requirements but is also seen as the most risky market for investors. Business Warrior is well on its way to becoming a global brand synonymous with small business success., Business Warrior is a SaaS company focused on helping small businesses solve two of the biggest challenges to owning and operating a business: customer acquisition and access to funding. We even store completed forms and supporting documents so they will be readily accessible for future reference. Banks Reporting Companies must have filed, through the OTC Disclosure & News Service, all financial reports required to be filed with their Banking Regulator for the preceding two years, including but not limited to audited financial statements for fiscal year ends, or as long as it has been in existence, if less than two years. Outbound Lead Generation Strategies for Beginners and Small Businesses, Business Warrior Reports 1,331% Annual Financial Growth, Getting SEO Right the First Time for Small Businesses, Business Warrior Announces Launch of New Products, Plans for 2022, The Top 3 Ways Google Ads Can Grow/Build Your Business, Business Warrior To Host Virtual Shareholder Call on Traction, Results and Recent, Business Warrior Announces Solution to Small Business Lending Concerns, Lead Generation Services Every Small Business Should Have, Business Warrior Announces Selection of Auditing Firm, Business Warrior & DeskTeam360 Partnership Brings Affordable Web Development. International Reporting Companies and Regulation A Reporting Companies are exempt from the PCAOB requirement. Have a board of directors that includes at least two Independent Directors. Hamilton & Associates Law Group, P.A. How to Play Stocks in the Pink Sheets Market, Introducing Pink Sheets: The OTC Pink Market, The Most Crucial Financial Ratios for Penny Stocks, What Is OTCQX? Stocks trading in the OTCQB havemany of the same protections as more established, larger stocks. The common shares will trade under continue to trade under the symbol "ENTEF" effective as of the opening of the market on December 21, 2020. A company may be removed from the OTCQB if, at any time, it fails to meet the eligibility and continued quotation requirements subject to a 30-day notice and opportunity to address them. The Company must login to. The OTCQB is recognized by the Securities and Exchange Commission as an established public market providing public information for analysis and value of securities. Then, they might meet requirements to be traded on the NYSE or NASDAQ down the road. pWE .EGG``R@6YA `y[M9 - FlitWays (FTWS) Announces Application to Uplist to OTCQB Venture Market. Instead of providing an order matchmaking service likethe NYSE, these dealers carry inventories of securities in order to facilitate any buy and sell orders. OTC Markets | Official site of OTCQX, OTCQB and Pink Markets %%EOF The notice must state the name of the Company, the type of report (Annual, Quarterly or Interim) that is or will be late, the reason why the report is or will be late, and the date that the Company expects to file the report. The Rule is automatic for foreign issuers that meet its requirements. The answer to the timing question depends upon whether the company seeking to uplist is the product of a reverse merger. Influencer Marketing: Yay or Nay for Med Spas? A company needs to have at least $2 million in total assets as of the most recent quarterly statement for the OTCQX. Lego Disney Castle 71040, FaithfulAutist 2 yr. ago Ah yeah, I was just saying we'd prolly get like an affirmative update within the next few days here. At least two members of the Board of Directors and a majority of the members of the Audit Committee must satisfy the independence requirement within the later of 90 days after the Company begins trading on OTCQB or the time of the Companys next shareholder meeting. The corporate finance landscape is perpetually changing and our attorneys adapt just as quickly. For more information, visit https://businesswarrior.com. Additionally, uplisting to a larger exchange allows Business Warrior stock to be traded on a vast scale, which opens the market for new investors to give us ample support. In our opinion an OTCQB listing would be advisable, it just has an additional layer of compliance, we can start with the Pink Sheet Listing and you can choose to uplist to OTCQB or QX, if desired. Meet a minimum closing bid price on OTC Markets of $.01 for each of the last 30 calendar days; In the event that there is no prior public market and a 15c2-11 application has been submitted to FINRA by a market maker, OTC Markets can waive the bid requirement at its sole discretion; In the event that a Company is a seasoned public issuer that completed a reverse stock split within 6 months prior to applying to the OTCQB, the Company must have a post reverse split minimum bid price of $.01 at the close of business on each of the 5 consecutive trading days immediately before applying to the OTCQB; In the event the Company is moving to the OTCQB from the OTCQX, it must have a minimum closing bid price of $.01 for at least one (1) of the 30 calendar days immediately preceding; Companies may not be subject to bankruptcy or reorganization proceedings the Companys application; Either be subject to the reporting requirements of the Securities Exchange Act of 1934 and be current in such reporting obligations or, if an international issuer, be eligible to rely on the registration exemption found in Exchange Act Rule 12g-2(b) and be current and compliant in such requirements or be a bank current in its reporting obligations to its bank regulator; Not be in bankruptcy or reorganization proceedings; Be duly organized, validly existing and in good standing under the laws of each jurisdiction in which it is organized and does business; Submit an application and pay an application and annual fee; Maintain a current and accurate company profile on the OTC Markets website; Use an SEC registered transfer agent and authorize the transfer agent to provide information to OTC Markets about the Company securities, including but not limited to, shares authorized, shares issued and outstanding, and share issuance history; and. Week 1. The OTCQX has two tiers of quotation for U.S. companies: (i) OTCQX International Premier; and (ii) OTCQX International. W20J300&. American Battery Metals Corporation (OTCQB:ABML) applied to uplist from the OTC to the Nasdaq in May 2021.