BigBadWolf
1 mes hace
Authorized Shares 10,000,000,000 01/08/2025
Outstanding Shares 7,232,965,438 01/08/2025
Restricted 910,989,212 01/08/2025
Unrestricted 6,321,976,226 01/08/2025
Held at DTC 4,143,567,296 01/08/2025
Authorized Shares 10,000,000,000 12/18/2024
Outstanding Shares 7,232,965,438 12/18/2024
Restricted 910,989,212 12/18/2024
Unrestricted 6,321,976,226 12/18/2024
Held at DTC 3,943,567,296 12/18/2024
Authorized Shares 10,000,000,000 12/11/2024
Outstanding Shares 7,232,965,438 12/11/2024
Restricted 910,989,212 12/11/2024
Unrestricted 6,321,976,226 12/11/2024
Held at DTC 3,943,567,296 12/11/2024
BigBadWolf
2 meses hace
The time it takes for OTC Markets to remove a "Shell" status depends on several factors, including the completeness and accuracy of the company's filings, the complexity of its business, and the responsiveness of OTC Markets. Here’s a breakdown of the typical timeline:
1. Preparation Phase (Varies by Company)
Before applying for a review, the company needs to ensure all necessary disclosures, financial statements, and supporting documents are complete.
This step may take weeks to months, depending on the company’s state of compliance and readiness.
2. Submission to OTC Markets (1-2 Weeks)
Once the company submits all required documentation (e.g., updated financials, business information, and disclosure statements) via the OTCIQ portal, OTC Markets begins its review.
A complete and accurate submission significantly shortens this phase.
3. Review by OTC Markets (2-4 Weeks or More)
OTC Markets typically reviews submissions within 10-20 business days.
If issues or missing information are identified, OTC Markets may request additional details, which could extend the timeline.
4. Status Update on OTC Markets (Immediate to 1 Week)
If OTC Markets determines that the company no longer meets the "Shell" designation, the status is updated promptly in its system.
The company will receive a notification confirming the change.
Factors Affecting Timeline
Completeness of Documentation: Delays occur if filings are incomplete, unclear, or not in compliance with OTC Markets' guidelines.
Complexity of Business: Companies with intricate operations, recent mergers, or significant changes may face a longer review.
Responsiveness to Requests: Quick responses to any additional requests from OTC Markets can significantly reduce delays.
OTC Markets Backlog: The time may also depend on OTC Markets' workload at the time of submission.
Estimated Total Time
On average, 2-8 weeks after submitting the necessary documentation is a reasonable expectation for the "Shell" status to be reviewed and removed.
BigBadWolf
2 meses hace
Authorized Shares 10,000,000,000 12/18/2024
Outstanding Shares 7,232,965,438 12/18/2024
Restricted 910,989,212 12/18/2024
Unrestricted 6,321,976,226 12/18/2024
Held at DTC 3,943,567,296 12/18/2024
Authorized Shares 10,000,000,000 12/11/2024
Outstanding Shares 7,232,965,438 12/11/2024
Restricted 910,989,212 12/11/2024
Unrestricted 6,321,976,226 12/11/2024
Held at DTC 3,943,567,296 12/11/2024
pinkslipjunkie
2 meses hace
It would be nice to think he started the 2)submission process a month ago at least.
The time it takes for OTC Markets to remove a "Shell" status depends on several factors, including the completeness and accuracy of the company's filings, the complexity of its business, and the responsiveness of OTC Markets. Here’s a breakdown of the typical timeline:
1. Preparation Phase (Varies by Company)
Before applying for a review, the company needs to ensure all necessary disclosures, financial statements, and supporting documents are complete.
This step may take weeks to months, depending on the company’s state of compliance and readiness.
2. Submission to OTC Markets (1-2 Weeks)
Once the company submits all required documentation (e.g., updated financials, business information, and disclosure statements) via the OTCIQ portal, OTC Markets begins its review.
A complete and accurate submission significantly shortens this phase.
3. Review by OTC Markets (2-4 Weeks or More)
OTC Markets typically reviews submissions within 10-20 business days.
If issues or missing information are identified, OTC Markets may request additional details, which could extend the timeline.
4. Status Update on OTC Markets (Immediate to 1 Week)
If OTC Markets determines that the company no longer meets the "Shell" designation, the status is updated promptly in its system.
The company will receive a notification confirming the change.
Factors Affecting Timeline
Completeness of Documentation: Delays occur if filings are incomplete, unclear, or not in compliance with OTC Markets' guidelines.
Complexity of Business: Companies with intricate operations, recent mergers, or significant changes may face a longer review.
Responsiveness to Requests: Quick responses to any additional requests from OTC Markets can significantly reduce delays.
OTC Markets Backlog: The time may also depend on OTC Markets' workload at the time of submission.
Estimated Total Time
On average, 2-8 weeks after submitting the necessary documentation is a reasonable expectation for the "Shell" status to be reviewed and removed.
pinkslipjunkie
2 meses hace
Maybe that is all in process now and when done all done there will be a detailed PR released telling of the details of today's X acquisition announcement and maybe Brad used the X post to keep it...hmmmm... how should I put this...honest!....since I guess it was an announcement at the beginning of the week...and if my 'maybe" theory is right...it is fudged up...LOL
The time it takes for OTC Markets to remove a "Shell" status depends on several factors, including the completeness and accuracy of the company's filings, the complexity of its business, and the responsiveness of OTC Markets. Here’s a breakdown of the typical timeline:
1. Preparation Phase (Varies by Company)
Before applying for a review, the company needs to ensure all necessary disclosures, financial statements, and supporting documents are complete.
This step may take weeks to months, depending on the company’s state of compliance and readiness.
2. Submission to OTC Markets (1-2 Weeks)
Once the company submits all required documentation (e.g., updated financials, business information, and disclosure statements) via the OTCIQ portal, OTC Markets begins its review.
A complete and accurate submission significantly shortens this phase.
3. Review by OTC Markets (2-4 Weeks or More)
OTC Markets typically reviews submissions within 10-20 business days.
If issues or missing information are identified, OTC Markets may request additional details, which could extend the timeline.
4. Status Update on OTC Markets (Immediate to 1 Week)
If OTC Markets determines that the company no longer meets the "Shell" designation, the status is updated promptly in its system.
The company will receive a notification confirming the change.
Factors Affecting Timeline
Completeness of Documentation: Delays occur if filings are incomplete, unclear, or not in compliance with OTC Markets' guidelines.
Complexity of Business: Companies with intricate operations, recent mergers, or significant changes may face a longer review.
Responsiveness to Requests: Quick responses to any additional requests from OTC Markets can significantly reduce delays.
OTC Markets Backlog: The time may also depend on OTC Markets' workload at the time of submission.
Estimated Total Time
On average, 2-8 weeks after submitting the necessary documentation is a reasonable expectation for the "Shell" status to be reviewed and removed.
BigBadWolf
2 meses hace
The time it takes for OTC Markets to remove a "Shell" status depends on several factors, including the completeness and accuracy of the company's filings, the complexity of its business, and the responsiveness of OTC Markets. Here’s a breakdown of the typical timeline:
1. Preparation Phase (Varies by Company)
Before applying for a review, the company needs to ensure all necessary disclosures, financial statements, and supporting documents are complete.
This step may take weeks to months, depending on the company’s state of compliance and readiness.
2. Submission to OTC Markets (1-2 Weeks)
Once the company submits all required documentation (e.g., updated financials, business information, and disclosure statements) via the OTCIQ portal, OTC Markets begins its review.
A complete and accurate submission significantly shortens this phase.
3. Review by OTC Markets (2-4 Weeks or More)
OTC Markets typically reviews submissions within 10-20 business days.
If issues or missing information are identified, OTC Markets may request additional details, which could extend the timeline.
4. Status Update on OTC Markets (Immediate to 1 Week)
If OTC Markets determines that the company no longer meets the "Shell" designation, the status is updated promptly in its system.
The company will receive a notification confirming the change.
Factors Affecting Timeline
Completeness of Documentation: Delays occur if filings are incomplete, unclear, or not in compliance with OTC Markets' guidelines.
Complexity of Business: Companies with intricate operations, recent mergers, or significant changes may face a longer review.
Responsiveness to Requests: Quick responses to any additional requests from OTC Markets can significantly reduce delays.
OTC Markets Backlog: The time may also depend on OTC Markets' workload at the time of submission.
Estimated Total Time
On average, 2-8 weeks after submitting the necessary documentation is a reasonable expectation for the "Shell" status to be reviewed and removed.
pinkslipjunkie
2 meses hace
Yeah, it doesn't sound as easy as a X post to get it done...so far we have an accumulation of X posts for the last 4 months
Removing the "Shell" status on OTC Markets typically requires demonstrating that a company is no longer a "shell company" under the SEC's definition. The SEC defines a shell company as one with no or nominal operations and no or nominal assets (or assets consisting solely of cash or cash equivalents). To have the status removed, a company generally needs to meet the following requirements:
1. Operate a Viable Business
The company must have active business operations, such as generating revenue or conducting meaningful activities in its industry.
Demonstrate operational growth or other business developments that show it is no longer a shell.
2. File Updated Financial Statements
File accurate and up-to-date financial reports that reflect active operations and substantial assets.
Provide audited financial statements if required, especially for OTCQB or OTCQX tiers.
Ensure compliance with GAAP (Generally Accepted Accounting Principles) and disclose material business developments.
3. Provide Sufficient Disclosure
If the company is a reporting issuer under SEC rules, it must file the necessary disclosures via EDGAR (e.g., Forms 10-K, 10-Q, or 8-K).
For non-reporting companies, it must provide detailed information under OTC Markets' Alternative Reporting Standard (ARS), including the Annual Disclosure Statement and Quarterly Reports.
4. Submit a Disclosure Statement
Provide an updated Disclosure Statement (if on the Pink Sheets) under OTC Markets' guidelines. This includes information on:
Business operations.
Share structure.
Management and control.
Material contracts and financial position.
Comply with OTCIQ requirements if relevant.
5. Request a Status Review
OTC Markets will not automatically remove the "Shell" designation. The company must actively request a review once it believes it no longer meets the criteria.
Submit the updated disclosures, financials, and supporting evidence via the OTCIQ platform.
6. Ensure Active Trading
Demonstrate that the company’s securities have active trading, supported by market makers or liquidity.
Additional Notes:
Companies that have restructured through mergers, acquisitions, or new business ventures must clearly disclose and provide documentation proving these changes.
Companies with prior regulatory issues or significant investor warnings (e.g., Caveat Emptor status) may face additional scrutiny.
BigBadWolf
2 meses hace
Removing the "Shell" status on OTC Markets typically requires demonstrating that a company is no longer a "shell company" under the SEC's definition. The SEC defines a shell company as one with no or nominal operations and no or nominal assets (or assets consisting solely of cash or cash equivalents). To have the status removed, a company generally needs to meet the following requirements:
1. Operate a Viable Business
The company must have active business operations, such as generating revenue or conducting meaningful activities in its industry.
Demonstrate operational growth or other business developments that show it is no longer a shell.
2. File Updated Financial Statements
File accurate and up-to-date financial reports that reflect active operations and substantial assets.
Provide audited financial statements if required, especially for OTCQB or OTCQX tiers.
Ensure compliance with GAAP (Generally Accepted Accounting Principles) and disclose material business developments.
3. Provide Sufficient Disclosure
If the company is a reporting issuer under SEC rules, it must file the necessary disclosures via EDGAR (e.g., Forms 10-K, 10-Q, or 8-K).
For non-reporting companies, it must provide detailed information under OTC Markets' Alternative Reporting Standard (ARS), including the Annual Disclosure Statement and Quarterly Reports.
4. Submit a Disclosure Statement
Provide an updated Disclosure Statement (if on the Pink Sheets) under OTC Markets' guidelines. This includes information on:
Business operations.
Share structure.
Management and control.
Material contracts and financial position.
Comply with OTCIQ requirements if relevant.
5. Request a Status Review
OTC Markets will not automatically remove the "Shell" designation. The company must actively request a review once it believes it no longer meets the criteria.
Submit the updated disclosures, financials, and supporting evidence via the OTCIQ platform.
6. Ensure Active Trading
Demonstrate that the company’s securities have active trading, supported by market makers or liquidity.
Additional Notes:
Companies that have restructured through mergers, acquisitions, or new business ventures must clearly disclose and provide documentation proving these changes.
Companies with prior regulatory issues or significant investor warnings (e.g., Caveat Emptor status) may face additional scrutiny.
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