Nasdaq issues listing requirements have absolutely nothing to do with OTCBB issues
From OTCBB official web site:
otcbb.com
<<Can a company be delisted?
Not at this time. All OTCBB issues, however, must maintain at least one registered Market Maker to remain on the OTCBB. When the last Market Maker in a security withdraws from the stock, the issue is removed from the OTCBB. Beginning July 1999, the OTCBB will begin to phase-out, or delist, securities of issuers who do not meet the new
Eligibility Requirements. This phase-out will occur over a 12 month period from July 1999 through June 2000 according to the Phase-In Schedule published on this site.>>
In accordance with the afore-mentioned Phase-In Schedule, FNTT has until December 31, 1999 to meet the new financial filing requirement for OTCBB issues, and I am sure Greg and his CFO can easily get this done in the next 9 months.
Nasdaq assumes no regulatory authority whatsoever over OTCBB issues. If you still don't understand, read this part of the provided link again and again until you do.
<<Who is responsible for regulating the OTCBB?
NASD Regulation regulates the quotation activity and trade practices of OTCBB Market Makers. OTCBB issuers are not regulated by The Nasdaq Stock Market, Inc., the NASD, or NASD Regulation.>> |
