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).
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.
what of the Pink No Information issuers? And how many are there? OTC said
“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.
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.