GNCC Capital, Inc. Further Updates On OTC Tier Status
GNCC Capital (GNCP) provided an update regarding its status with OTC Markets Compliance, affirming the submission of a further amended Q3 report. The Company expects to be reinstated to PINK CURRENT status due to timely communications and filings. Directors anticipate no further amendments will be needed, with an update expected soon. The Company aims to file its Annual Report by December 30, 2021, contingent upon reinstatement. They have reassured shareholders of the ongoing resolution and advised patience during this process.
- Directors believe reinstatement to PINK CURRENT is imminent.
- All filings are up to date and timely, with the last filing on August 22, 2021.
- OTC Markets confirmed no additional Attorney Letter is required for quarterly reports.
- None.
LAS VEGAS, Nov. 16, 2021 /PRNewswire/ -- GNCC Capital, Inc. (GNCP.PK) ("The Company" or "GNCP") refers to our Statement dated November 9, 2021 in which we confirmed that we had submitted further responses to OTC Markets Compliance to review and in respect of the FURTHER AMENDED Q3 Report; and in order for the Company to be reinstated to that of PINK CURRENT.
We clearly stated that our last response to OTC Markets Compliance questions was on Monday November 8, 2021; today being only the seventh business day since that response by ourselves. We have been advised by Counsel that currently, the OTC Markets Compliance is responding within 7 to 9 Business Days; so no response as yet was expected by ourselves. The Company Directors are in direct communication with OTC Markets Compliance.
We reiterate that in the opinion of the Directors, it is unlikely that OTC Markets Compliance will require any further amended Q3 Reports to be filed. Upon their review of our response of November 8, 2021; we, in our opinion, reasonably expect to be reinstated to that of PINK CURRENT without further delays.
OTC Markets Compliance has confirmed to us that no Attorney Letter is required for Quarterly Reports; that is only required for Annual Reports so it does not apply to the issue at hand whatsoever.
We truly understand that shareholders are extremely anxious for our reinstatement to that of PINK CURRENT in order for ourselves to announce transactions that depend upon our being PINK CURRENT.
Given the timeframes as above-mentioned, it is not unreasonable for your Directors to assume that we will be in a position to further update our stockholders this week.
We again ask for shareholders to continue to exercise patience for an issue which now appears to be imminently resolved and that there is no need to constantly contact the Company over this issue. Your Directors have this matter in hand and we are closely monitoring the situation.
We reiterate that our filings are up to date, were filed on time (the Q3 on August 22, 2021) and our last Filing was an amended filing for our Q3 period (at the request of OTC Markets Compliance on September 23, 2021).
We confirmed on October 27, 2021 that the Company's Annual Report and the Attorney Letter for the Year Ended September 30, 2021 will be filed on the OTC Markets; upon the Company's being reinstated as PINK CURRENT. This Annual Report is due on or before December 30, 2021.
We remain of the opinion that is not appropriate to file the above-mentioned Annual Report until the reinstatement to PINK CURRENT by OTC Markets Compliance.
Forward Looking Statements:-
This press release may contain forward-looking statements. The words "believe," "expect," "should," "intend," "estimate," "projects," variations of such words and similar expressions identify forward-looking statements, but their absence does not mean that a statement is not a forward-looking statement. These forward-looking statements are based upon the Company's current expectations and are subject to a number of risks, uncertainties and assumptions.
The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. Among the important factors that could cause actual results to differ significantly from those expressed or implied by such forward-looking statements are risks that are detailed in the Company's filings, which are on file with the OTC Markets Group.
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SOURCE GNCC Capital, Inc.
FAQ
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