Business
Grow Capital Inc. Provides Update to Shareholders on Listing Status and Operational Progress
Grow Capital Inc. Provides Update to Shareholders on Listing Status and Operational Progress.
About this update from Grow Capital, Inc.
[{"type":"text","content":"HENDERSON, NV / ACCESSWIRE / February 16, 2022 / Grow Capital, Inc (OTC PINK:GRWC), a publicly-traded software, technology and financial services holding company that identifies, acquires and incubates promising startups in the financial technology sector ("FinTech") updates shareholders on listing and operational status, with a statement from Company's Chief Operating Officer:Grow Capital, Inc. CEO Terry Kennedy, commented, "As we recently disclosed on our Current Report on Form 8-K filed on December 23, 2021, as a result of the Company's failure to timely file its Annual Report on Form 10-K for the fiscal year ended June 30, 2021, and subsequent reports in order to remain compliant with recent changes to SEC Rule15c2-11, Grow Capital, Inc. was downgraded by OTC Markets to the Expert Market. The Expert Market is available only for unsolicited quotes, meaning broker-dealers may use the Expert Market to publish unsolicited quotes representing limit orders from retail and institutional investors who are not affiliates or insiders of the issuer. Quotations in Expert Market securities are only made available to broker-dealers, institutions and other sophisticated investors. As a result, once the Company's common stock moved to the Expert Market, the Company's stockholders no longer have a public trading market for their shares, and published quotations no longer reflect competing quotes. A review by a broker-dealer under SEC Rule15c2-11 is now required for brokers to publish competing quotes and provide continuous market making for our shares. As a result of this change, in the opinion of management, the published trading price of the Company's stock no longer reflects its true market value. In order to return to a regularly quoted market, the Company has developed a plan for satisfying the required reporting requirements as soon as practicable to upgrade to the OTC Pink market under the alterative reporting standards ("ARS"), which will involve filing unaudited financial reports for the fiscal years ended June 30, 2021 and 2020, and to the most recent reporting period ended December 31, 2021; an application to OTC Markets for Pink disclosure services and finally a review by a broker-dealer under SEC Rule15c2-11 in order to obtain full Current Pink reporting status. The Company has commenced this process and...