Watashiwah
Elio Addict
What happens if they don't file on time, what happens if they don't file at all?
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You can register using your Google, Facebook, or Twitter account, just click here.http://www.otcmarkets.com/learn/otc-company-reportingWhat happens if they don't file on time, what happens if they don't file at all?
What happens if they don't file on time, what happens if they don't file at all?
Elio is not pink,it is listed as a QXNo one at the Pink Sheets would even care. They could report nothing for the next year and be fine with their Pink Sheet listing. But since they're working hard to get on NASDAQ they will very likely keep reporting.
The Pink Sheets are literally the wild west: This is right from the Pink Sheets website:
The Open Market
The Pink Open Market offers trading in a wide spectrum of securities through any broker. With no minimum financial standards, this market includes foreign companies that limit their disclosure, penny stocks and shells, as well as distressed, delinquent, and dark companies not willing or able to provide adequate information to investors. As Pink requires the least in terms of company disclosure, investors are strongly advised to proceed with caution and thoroughly research companies before making any investment decisions.
That's where Elio resides right now, not because they did anything wrong, but because they're small and starting up! If they can make the move to NASDAQ investors will take notice big time! For example mutual fund companies will want to tour their operations and hold meetings. It will be very good!
No one at the Pink Sheets would even care. They could report nothing for the next year and be fine with their Pink Sheet listing. But since they're working hard to get on NASDAQ they will very likely keep reporting.
The Pink Sheets are literally the wild west: This is right from the Pink Sheets website:
The Open Market
The Pink Open Market offers trading in a wide spectrum of securities through any broker. With no minimum financial standards, this market includes foreign companies that limit their disclosure, penny stocks and shells, as well as distressed, delinquent, and dark companies not willing or able to provide adequate information to investors. As Pink requires the least in terms of company disclosure, investors are strongly advised to proceed with caution and thoroughly research companies before making any investment decisions.
That's where Elio resides right now, not because they did anything wrong, but because they're small and starting up! If they can make the move to NASDAQ investors will take notice big time! For example mutual fund companies will want to tour their operations and hold meetings. It will be very good!
The highest quality OTC stocks are on the OTCQX, followed by lower quality OTC stocks on OTCQB, and 'bottom of the barrel' OTC 'penny' stocks on Pink Sheet. ELIO is on OTCQX, Electra Mecannica on OTCQB. Can't think of a Pink Sheet auto stock...Elio is not pink,it is listed as a QX
Last year they filed on the 18th, maybe it was not due until today. This would let them report on Monday.The highest quality OTC stocks are on the OTCQX, followed by lower quality OTC stocks on OTCQB, and 'bottom of the barrel' OTC 'penny' stocks on Pink Sheet. ELIO is on OTCQX, Electra Mecannica on OTCQB. Can't think of a Pink Sheet auto stock...
Regardless of whether on OTCQX, OTCQB or Pink Sheet tier...a company can usually choose from several financial reporting standards, but ELIO would need to meet the Reg. A reporting standard which requires quarterly financial reports....and necessary to move up to the NASDAQ.
If they do not report today I think it is safe to say Nasdaq listing is off the table. I think that it might be a good thing.