Moving Up: Coretec’s Return to the OTCQB Market
To close out our CEO letter series for November 2020, we’d like to highlight an update that, for many long-time followers of The Coretec group, is a significant achievement – our return to the OTCQB market.
Since our merger with 3DIcon in June of 2016, we have been trading on OTC Pink, the lower tier of the OTC markets, while we continued to build a solid business strategy, build a solid intellectual property foundation, and ramp up activity with strategic partners in CHS commercialization efforts. We took this time to focus on company progress and ensure that we had all the paperwork lined up to bring Coretec back to the middle tier of the OTC market, OTCQB.
Why is this so significant you may ask? Well, to be eligible, there are a number of requirements companies must meet. For example, companies must be current in their financial reporting to the SEC, they need to pass a minimum bid price test, and undergo an annual company audit, verification and management certification process. A lot of work goes into upgrading your company’s market listing but the rewards we’re able to reap are worth it. It is worth noting that Coretec has always been current on SEC filings and the audit process.
The OTCQB venture market is a premier market for entrepreneurial and development stage U.S. and international companies. These companies must be committed to providing investors with high-quality trading and improved market visibility. In addition to its reputation, OTCQB equities gain added visibility as they are traded through the OTC Link® inter-dealer quotation and trading messaging system. Subscribing broker-dealers can view and publish quotes and negotiate trades through its SEC-registered Alternative Trading System – a simplified and streamlined trading approach.
As we continue to gain more traction with customers and partners and as CHS becomes incorporated into next-generation technologies, this added visibility will be crucial for the investment and support of our efforts. Being listed on the OTCQB shows that we are dedicated to transparency as we progress and is an additional testament to our commitment to investors.
These last few months Coretec has inched increasingly closer to the milestones that we have sought over the past few years. From our partnerships with Evonik and Theion, to increasing interest and inquiries from customers, and finally our OTCQB listing – we believe Coretec is on a solid trajectory to meet our long-term goals over the next few months. Thank you all for tuning into our latest CEO letter and make sure to connect with us on Twitter, LinkedIn and Facebook for updates.