Livewire CEO to Shareholders on OTCQB Up-listing Progress
I know it has been a while since we announced that we were planning to up-list to OTCQB in November of last year and we realize it has taken longer than anticipated. We had researched the requirements for up-listing to OTCQB and based on our findings, we moved ahead with our application, expecting a relatively smooth and timely process. In December of 2018 we posted audited financials for 2016 and 2017 and filed our OTCQB Certification application as required by OTC Markets.
In January of 2019 we filed our quarterly report for Q3 2018 and additional QB supporting documents for a final review by OTC Markets, as required before final approval of our up-listing application. After the review by OTC we were informed that certain disclosures formatting needed to be amended and reposted.
Due to timing deadlines for the filing of our Annual Report 2018, we had to decide on whether to continue making the requested changes to the quarterly report or prepare and file our audited annual report, since we fully expected that OTC would now request the Annual Report to back up our application for up-listing. We chose to focus on the annual report and to post the unaudited financials while the audit is getting finalized. We’re confident that our reapplication combined with the audited Annual Report for 2018 will meet the requirements for OTCQB up-listing, and I’m hopeful that this will take place in the next 60 days.We will follow up soon with more detail on our business projects that are currently in the making and moving along nicely.