Will you be able to sell your TURV stock after Sept. 28? | TURV Message Board Posts


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Msg  7695 of 7759  at  9/5/2021 1:05:50 PM  by

LDM


Will you be able to sell your TURV stock after Sept. 28?


According to the amended Securities and Exchange Commission (“SEC”) Rule 15c2-11 rule, there are three categories of OTC Pink stocks: Current, Limited Information, and No Information. 1) Current requires the Quarterly reports be filed within 45 days and Annual reports filed within 120 days. 2) Limited Information requires that an annual report be filed within the previous 16 months. 3) No Information means that the company doesn't comply with Current or Limited Information requirements (TURV resides in the No Information category).

 
The last 10Q TURV filed was for the Quarter ended Sept 30, 2019, and the last 10K they filed was for the year ended Dec 31, 2018.


But what of the Pink No Information issuers? And how many are there? OTC said that “approximately 2,800 securities will be removed from the publicly quoted market” on September 28. It now appears that they will instead move to the Grey Market, which has a long and undistinguished history. The Grey Market does not feature electronic trade execution. Trades are executed by telephone, and market makers have no obligation to lend a hand unless they want to. They cannot, of course, make a market in any Grey issue.

To make a long and sad story short----it will be difficult to sell your shares of TURV after Sept. 28, 2021 if they don't get their required filings out in the next 23 days. 

Look on the bright side. If people start hoarding toilet paper during this covid surge---you'll be sitting pretty with all your valuable TURV certs.
 
 
 
 

 


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