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Author Topic: Pinksheets Issuer Questions Answered  (Read 6889 times)

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The Web Team

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Pinksheets Issuer Questions Answered
« on: February 24, 2007, 09:22:20 PM »
How does a company become quoted in the Pink Sheets?
To be quoted on the Pink Sheets, you need to find one market maker willing to quote your company's stock. Only SEC-registered broker-dealers (market makers) that are members of the National Association of Securities Dealers (NASD) can quote securities in the Pink Sheets. For more information, see: How Does a Company Become Quoted on the Pink Sheets?

How can I find a market maker to file a Form 211?
Pink Sheets cannot recommend specific market makers. However, market makers listed in our Service Provider Directory welcome potential issuers to contact them to discuss making a market in their company's stock. For more information on Rule 15c2-11 and the Form 211, see: What is Rule 15c2-11?

Are there any filing requirements with the Pink Sheets for the issuers?
Issuers are not required to register securities with the Securities and Exchange Commission (SEC), or be current in their reporting requirements to be quoted on the Pink Sheets. Nor are issuers required to file financial or other company information with the Pink Sheets. SEC Rule 10b-17 requires all issuers of publicly traded securities, including Pink Sheets securities, to notify the NASD at least 10 calendar days prior to the record date of any dividend or other distribution, stock split, reverse split, or rights or subscription offering.

What are the fees?
The Pink Sheets does not charge issuers a fee for being quoted on the service. Market makers are charged for each security in which they make a market in the Pink Sheets

How do I get my company "delisted" from the Pink Sheets?
Because securities are not "listed" on the Pink Sheets, it is not possible for an issuer to "delist" them. The only way to remove a company from the Pink Sheets is for all of the market makers to stop quoting it. If your company's securities no longer actually exist, but are still being quoted, you should contact Nasdaq's Market Integrity Department at 203-375-9609 and provide them documentation to that effect. Nasdaq will investigate and, if appropriate, eliminate the trading symbol and advise the Pink Sheets. Pink Sheets will then remove the market makers quotations in this security.

How are symbols assigned?
Nasdaq assigns all OTC security symbols.

How do I get my trading symbol or company name changed?
You should contact Nasdaq's Market Integrity Department at 203-375-9609.

Who do I notify about a merger, stock split or other corporate action?
You should contact Nasdaq's Market Integrity Department at 203-375-9609. Nasdaq will then notify us of the changes.

How do I update my company's information on pinksheets.com?
Complete the Company Information Update Form

Do financial statements have to be audited?
Current NASD rules do not require the financial statements of Pink Sheet issuers to be audited, but they should be prepared in accordance with GAAP or, for foreign issuers, in accordance with their home country's accounting standards.

What is the best product for Pink Sheet issuers?
You can capitalize on the visibility pinksheets.com provides by subscribing to our premium issuers products. Our News Release and Financial Report Service and Level II quote sponsorship provide easy access to in-depth information about your company that is valuable to both current and potential investors. These services are easy to use and offer an efficient way for you to communicate with the investing public.

How can I publish a news release or financial report on pinksheets.com?
There is an annual fee of $499.95, which permit subscribers to post unlimited Financial Reports throughout the year; there is a per release fee of $99.95 to publish news releases through the Pink Sheets News Service. A one-time $199.99 account verification and set up fee applies. To subscribe to this indispensable service, please download the Subscription Agreement and fax it to 212-868-3828. For more information, see Pink Sheets News Service

What are the shareholder notification requirements?
Pink Sheets has no shareholder notification or shareholder approval requirements.

How do I halt trading in my company's stock?
Only the NASD or the SEC can halt trading in OTC securities. The NASD does not have the authority to halt trading for the dissemination of OTC issuer news.

How can I get a list of market makers in my company's stock?
You can request a list of market makers in your company's stock by sending an email to issuerservices@pinksheets.com.

What can an issuer do to restore the display of quotes for its securities on pinksheets.com once they have been blocked for spam or promotional activities?
The issuer must provide certain disclosure to investors via the Pink Sheets News Service (http://www.pinksheets.com/products/news_service.jsp). The disclosure must comply with Pink Sheets’ Guidelines for Providing Adequate Current Information (http://www.pinksheets.com/otcguide/disclosure_guidelines.pdf). Pink Sheets, at it’s discretion, may continue to temporarily block the dissemination of quotes for securities of companies that have provided the required disclosure if we continue to get complaints about spam or other unsolicited communications promoting the issuer’s stock.

The Web Team


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