The limits are lower for the other OTC markets. 7L)`Dg O The issuer must not be subject to any Bankruptcy or reorganization proceedings. Up-listing from an OTC to a National Exchange - Colonial Stock Contact us now. The corporate finance landscape is perpetually changing and our attorneys adapt just as quickly. How Does a Stock Move From OTC to a Major Exchange? 0 Goldrich Mining advised that its common shares commenced trading under the ticker symbol "GRMC" on the OTCQB effective March 19, 2021. The company must comply with Exchange Act Rule 10b-17 and FINRA rule 6490 regarding notification and processing of corporate actions (such as name changes, splits and dividends). Regulation A+ Standards: The reporting standard for a Company subject to the reporting obligations under Tier 2 of Regulation A under the Securities Act. In order to move a company from over-the-counter market to a major exchange, a number of conditions must be met to being listed on the NYSE or Nasdaq. Investopedia does not provide tax, investment, or financial services and advice. There are two main reasons why companies may be listed on the OTCBB. How long does it usually take to list on the NASDAQ? %PDF-1.6 % For More Information See: OTCQB Eligibility Requirements. Request additional verifications from a third party as applicable. The fee for listing on OTCQB markets is $14,000 per annum, with a one-time application fee of $5,000. Require the Company to confirm, clarify or modify any information contained in the OTCQB Application Materials; Require the Company to provide a further undertaking, including the submission of a Personal Information Form for any executive officer, director, or beneficial owner of 5% or more of a class of the Companys securities, or fulfill a further condition, prior to admission; Delay admission pending the completion of further due diligence. Special Considerations Stocks trading in the OTCQB have many of the same protections as. Confirmation that the Company is current in its SEC reporting obligations and has filed all reports with the SEC, that all financial statements have been prepared in accordance with U.S. GAAP, and that the auditor opinion is not adverse, disclaimed or qualified; International Companies (i) Companies subject to the Exchange Act reporting requirements must be current in such reports; (ii) A company that is not an SEC Reporting Company must be current and fully compliant in its obligations under Exchange Act Rule 12g3-2(b), if applicable, and shall have posted 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) for the preceding 24 months (or from inception if less than 24 months); and all financial statements have been prepared in accordance with U.S. GAAP and that the auditor opinion is not adverse, disclaimed or qualified; Verification that the Company profile is current, complete and accurate; The companys reporting standing (i.e., whether SEC reporting, bank reporting or international reporting) and briefly describing the registration status of the company; If the Company is an International Company and relying on 12g3-2(b), that it is current in such obligations; That the company is current in its reporting obligations to its regulator and that such information is available either on EDGAR or the OTC Markets website; States the law firm and/or attorneys that assist the company in preparing its annual report or 10-K; Confirms that the company profile on the OTC Markets website is current and complete; Identifies any third-party providers engaged by the Company, its officers, directors or controlling shareholders, during the prior fiscal year and up to the date of the certification, to provide investor relations services, public relations services, stock promotion services or related services; Confirms the total shares authorized, outstanding and in the public float as of that date; and.
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