RE: Priorities12 May 2022 12:01
"Here’s how that system works:
OTCQX
The OTCQX Market is the top tier, with the most stringent entry requirements. According to OTC Markets, companies trading on OTCQX must “meet high financial standards, follow best practice corporate governance, demonstrate compliance with U.S. securities laws, be current in their disclosure, and have a professional third-party sponsor introduction.”
More specifically, these companies must meet a reporting standard in terms of how they report financial information. They must also have a board of directors with at least two independent directors, an audit committee that conducts annual financial audits, have annual shareholders meetings and release annual financial reports 15 days prior to each meeting.
Companies that are penny stocks, shells, or are in bankruptcy are excluded from trading on this tier.