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Microcap & Penny Stocks : Rocky Mountain Int'l (OTC:RMIL former OTC:OVIS)
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To: Just My Opinion who wrote (36199)1/12/1998 8:18:00 PM
From: Hawkmoon  Read Replies (2) of 55532
 
Al-len,

There are two types of BB companies.. reporting and non-reporting.
This may be where you are misunderstanding me.

Reporting companies need only file the previous years 10Q's (unaudited), and the most current 10K(audited) as well as all other pertinent filings such as 8K's... etc to meet the requirements of 15c2-11, although some mmkrs require the previous 2 years information.

Non-reporting companies don't file, Al-len. There is no requirement for them to file Q and K's. However, to become tradeable, they have to submit unaudited financial discussions and balance sheets.... and god knows what else. I'm frankly a little shaky on how non-reporting companies become publically traded.

There are plenty of examples of BB companies out there that have no quarterly filings. H*ll.. that was one my biggest complaints about MSU, their long-delayed promises to become a fully reporting company with 10Q/K... etc.

Also, stocks on the Pink Sheets require no financials that I know of. Basically, non-reporting BB companies must become fully reporting before becoming eligible to be listed on Nasdaq NMS or small cap.

So you have pink sheets.... then non-reporting BB stocks.... then fully reporting BB stocks..... then listed status on either AMEX or Nasdaq.

Reporting BB companies must be in compliance with all pertinent SEC filing requirements like a listed stock, even though they are only on the OTC-BB. Consider it probation until they meet listing requirements.

Anyone else have corrections or amplications they can offer???

Regards,

Ron
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