In order for a Pink Sheet company to be marked “pink current” on OTCMarkets.com, a securities attorney must issue a legal opinion that states the following:
Based on the examination and inquiry set forth above, I am of the opinion that the Information:
(a) constitutes “adequate current public information’” concerning the common stock of the Company quoted on the OTC Markets (“Securities”) and the Company itself, and “is available within the meaning of Rule 144(c)(2) under the Securities Act;
(b) includes all of the information that a broker-dealer would be required to obtain from the Company to publish a quotation for the Securities under Rule 15c2-11 under the Securities Exchange Act of 1934, as amended (“Exchange Act”);
(c) complies as to form with the OTC Markets’ Guidelines for Providing Adequate Current Information, which are located on the Internet at www.otcmarkets.com; and
(d) has been posted through the OTC Disclosure and News Service.
Matheau J. W. Stout, Esq. often represents Issuers seeking to become currently reporting on OTCMarkets.com. The process of raising an Issuer’s status from Stop Sign, to Yield Sign, and eventually to Current Pink, involves the review and posting of not only Quarterly and Annual financials (balance sheet, profit & loss statement, and cash flow statement), but also OTCMarkets’ Information and Disclosure Statement.
Together, these documents make up the Alternate Reporting Standard and provide much the same information to Shareholders as the SEC 10-Q and 10-K forms do for SEC reporting companies.