OTCMarkets OTCQX Eliminates New Penny Stock Issuers

OTCMarkets OTCQX Eliminates New Penny Stock Issuers

The OTCMarkets introduce OTCQX market as the primary layer of the U.S. OTC (OTC) market , providing investors with an objective measure to determine the specific OTC companies . U.S. OTCQX designate OTCMarkets of young , high- growth companies , to develop their operations and investor base in a cost -effective way to the market place .

To comply with the OTCQX, the United States, listed companies must meet higher financial standards than OTCQB and OTCPinks, current in its disclosure , and sponsored by a professional third-party consultants . Similarly , OTCMarkets OTCQX international level is designated as a qualified international stock exchanges are looking for efficient development of its U.S. shareholder base of listed companies on the global market. According to OTCMarkets, mostly in the OTCQX companies do not currently offer 376 penny stocks.

OTCQX rules eliminate the penny stocks l

April 2013 22, OTC Markets Group revises its U.S. and international cmpanies OTCQX rules . The most significant change in the rules to eliminate the OTCQX OTCQX layer Penny Stocks accepted. This change applies only to the initial eligibility criteria quoted companies seeking the OTCQX . The changes do not apply to the OTCQX continuing qualification requirements and rules will not affect the company is currently in the OTCQX trading .

Penny Stocks rose on OTCQX

Generally, Penny stocks that do not have at least one of the following :

♦ $ 5 bid price ,

♦ $ 2毫米net tangible assets , or

♦ Each ago 3 years.Eliminating penny stocks the OTCQX accepts 6mm revenues will create a clearer distinction between high-quality companies in the OTCQX 's OTCQB and OTC Pink layer of lower prices quoted securities, which Penny stocks are the norm.

U.S. companies OTCQX rules

♦ To join OTCQX qualify , companies must have to meet any exemption available under Rule 3a51 - 1 under the Securities Exchange Act of 1934 , " penny stocks " is defined as the ordinary shares.

♦ seasoned issuer , complete the reverse stock split , you can now qualify the OTCQX , the bid price requirement , if they remained for five consecutive trading days immediately preceding the OTCQX companies to apply the minimum bid price , compared to the previously required 90 days .

♦ OTC Markets Group will consider accepting the acquired company if the issuer meets the eligibility criteria OTCQX U.S. tier and $ 25 million net tangible assets of $ 10 million in its publicly traded securities market ; a minimum bid of $ 5.00 ; and the U.S. Securities and Exchange Commission reporting issuer , International OTCQX rules

♦ To join OTCQX qualify , companies must have to meet any exemption available under Rule 3a51 - 1 under the Securities Exchange Act of 1934 , " penny stocks " is defined as the ordinary shares.

♦ If a company does not currently trading on a qualified foreign exchange , OTC market OTCQX International Group may grant eligibility and the need for each executive director and director , as well as 10% or more of a class of beneficial owners of the Company 's personal information form no securities.OTCMarkets modify its listing requirements explain why , except to say , "The most significant change in alignment of the initial eligibility requirements U.S. and international companies with the SEC 's " penny stock rules . "

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