The main reason for a company to list on the OTC and not the NASDAQ in the first place is that they do not want to meet the stricter reporting requirements of a major exchange. OTC Markets have established specific disclosure requirements for the Pink Current Information tier and requires that issuers use forms it has created to provide much of the required disclosure. In fact, a company’s up-listing event is sometimes referred to as its second IPO. Company Completes Non-Brokered Private Placement to Raise $1.79 Million LAS VEGAS, Aug. 27, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Golden Matrix Group Inc. (OTC: GMGI), a … For brokerages, there is also less liquidity risk with higher trading volumes and the ability to deposit shares into brokerages. This is the pro-cess of moving a company from having its stock quoted on the OTC Capital Markets to trading on a national exchange, such as the NASDAQ or NYSE. The board of directors is not easy to fill. Each listing firm is also required to follow NASDAQ corporate governance rules 4350, 4351, and 4360. OTC markets are organized to provide investors and liquidity to small public companies. View shareholder meeting materials and vote your shares securely. NASDAQ has several listing applications depending on the circumstances of the listing sought. The Official Blog of Legal & Compliance, LLC. An Over The Counter stock is a financial security that does not … In the event that the Corporation does not complete the Stock Uplisting including compliance with reporting requirements within ... Uplisting means an uplisting of Buyer Shares from the OTC to the Nasdaq or the NYSE American, as the case may be. 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 … Uplisting to a National Exchange. They understand, to a tee, what is required at board meetings and annual shareholder meetings. The second main reason that companies up-list is simply that they qualify to do so. This will allow … For those companies, there are OTC markets. reaching this goal is accomplished by uplisting. Note that the required share price to uplist to Nasdaq is $4. They also understand how to meet those requirements while continuing operations successfully. The OTC Markets created the OTCQB Venture Market early-stage and developing U.S. and international companies. As an American exchange, it has listed over 3,100 companies with average daily share trading volume at over two billion. In many cases, if not most, it is advisable to pay for an experienced consultant to oversee the process. Executives at the NYSE and Nasdaq are allowing Canadian companies to list on their exchanges because those companies operate a business that is legal under Canadian law. Companies must also have at least 450 r ound lot … Doing so can help reduce comments, increase response times, and speed the up-listing along. Marijuana stock uplistings are picking up steam. NASDAQ has handled more IPOs than any other exchange. Lucosky writes that the three main requirements may seem simple but “there are often misconceptions as to the simplicity of these requirements.”. NASDAQ listing requirements include a minimum bid price of $4 per share, 1 million shares outstanding, at least 3 market makers, and a minimum of 300 round lot shareholders. 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