RE:RE:Next steps? radman17 wrote: I didn't want to reply, but I have friends who read the blogs and unfortunatley believe some of what they read.
Wow Radman ! You have a lot of nerve putting up a post like that or you live in some sort of alternative universe. If you like I can put up some of your past posts. The KLS downward spiral is due to investors struggling to pay their income tax? That in my opinion is some very questionable analysis. I could say what I really think but if you rode this one all the way down then you're likely feeling it and I don't want to cause problems.
A reverse split is very likely in my world and as someone very aptly put it … This dog has fleas.
The question was where does this stock trade if delisted. Here is some information regarding that.
Listing Agreement
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Sec. 713.
TSX may delist the securities of a listed issuer that fails to comply with its Listing Agreement or other agreements with TSX, or fails to comply with TSX requirements and policies. Examples of failure to comply with the Listing Agreement include, but are not limited to, failure to obtain the prior consent of TSX to issue additional equity securities; failure to obtain the consent of TSX before undergoing a material change in the business if the listed issuer is subject to Section 501; and failure to comply with TSX's requirements for stock options and security based compensation arrangements.
The complete section can be found here -
https://tmx.complinet.com/en/display/display_main.html?rbid=2072&element_id=327
If a stock goes too low the the TSX will move it to the TSXVenture . A stock can trade on the TSXVenture at a penny or less.
The NYSE has a minimum share price. Equity must trade at $1 or more to remain on the exchange. I am not sure if this also applies to NYSE-MKT.
Delisted stocks can then trade on the Over The Counter BB or last case senario … the dreaded PINK SHEETS . See below
Alternative Markets for Penny Stocks
Companies delisted from the major exchanges may end up trading on one of two over-the-counter markets:
The OTC Bulletin Board: The OTC-BB, which is also run by the Nasdaq, is relatively non-liquid compared to the three major exchanges. For example, recently about half of the market's roughly 6,500 issues were penny stocks traded at less than 50 cents a share, and fewer than half traded in that month, according to the OTC-BB.
Historically, companies trading on the OTCBB were not required to file regular financial statements with regulators. This removed a cumbersome ritual for small, closely held public companies that didn't care if their shares were actively traded. However, the Nasdaq adopted rules requiring filing for all companies trading in this market.
Pink Sheets: Many companies that fall off the OTCBB are likely to land on the Pink Sheets. The National Quotation Bureau, a private company in New York, runs this market. Each day, information on some 3,000 stocks (mostly penny stocks) is printed on sheets of pink paper and sent to paid subscribers (mostly brokerage houses).
Since the Pink Sheets don't require any financial reporting, it is generally considered the last stop for companies that have nowhere else to trade their securities.