The OTC Bulletin Board (OTCBB) is a regulated quotation service that displays real-time quotes, last-sale prices and volume information in over-the-counter (OTC) equity securities. An OTC equity security generally is any equity that is not listed or traded on NASDAQ or a national securities exchange. OTCBB securities include national, regional and foreign equity issues, warrants, units, American Depositary Receipts and Direct Participation Programs.

The OTCBB should not be confused with The NASDAQ Stock Market as it is a quotation medium for subscribing members, not an issuer listing service. There are no minimum quantitative standards to be met by an issuer for its securities (earnings, stock price, number of shareholders, etc.) in order to be quoted on the OTCBB; however, the new eligibility rules limit quotations on the OTCBB to the securities of issuers that are current in their 10Q and 10K financial reports filed with the SEC and other regulatory authorities. Issuers do not have any filing or reporting requirements with The NASDAQ Stock Market Inc., or the NASD. Market-makers will be required to provide the periodic financial reports filed by OTCBB issuers with the SEC or other regulatory authorities pursuant to the eligibility rule. For more information, visit the OTCBB. You can also get good information at Yahoo! Finance but you have to add an “.ob” after the symbol (i.e. SSSU.ob).

NASDAQ has no business relationship with the issuers of securities quoted on the OTCBB. Investors must contact a broker/dealer to trade OTCBB securities. Investors do not have direct access to the OTCBB service. The Securities and Exchange Commission’s (SEC’s) Order-Handling Rules which apply to NASDAQ-listed securities do not apply to OTCBB securities. Quarterly and Annual financial information, as well as other company information is filed with the SEC by all OTCBB issuers. Information on OTCBB issuers can be viewed at the SEC’s website.

OTCBB companies can merge with private companies by way of a share exchange. This process is called a “Reverse Merger.”

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