The Company must first undergo due diligence by the broker/dealer, where particular attention is paid to the issuance of outstanding shares, to whom and at what price they were issued, and free trading versus restricted shares. The broker dealer then files a Form 2-11 with the NASD. The NASD returns comments within approximately one week. Once comments are sufficiently answered and the NASD declares the filing effective, the stock will trade on the OTC-Bulletin Board, subject to company becoming a reporting company under the Securities Echange Act of 1934. The entire process typically takes 60 to 120 days.
Next Monday will be 4 weeks since the 2-11 was supposedly filed. It's looking more and more likely that the company was lying and no 2-11 was ever filed otherwise they would have heard something by now and issued a pr
What's the value of becoming a reporting company and being traded on the Bulletin Board vs. trading on the Pink Sheets?
When you are a reporting company and file with SEC, information about your company is made available to the public. Having a means to get information about your business, helps the public evaluate whether or not they want to buy your stock. Because people can look-up your company's information on their own, rather than relying on a market maker to approach them, the market for your stock is broadened. Also, some people and businesses won't buy pink sheet stocks, for example, banks and insurance companies.