A new low; OTC Pink Limited

This is from the otcmarkets.com page. The bank has apparently earned an even lower designation, OTC Pink Limited. A description with the warning sign follows. Thanks for the heads-up from a comment on the previous post.

Pink Sheets Limited Information Logo

Designed for companies with financial reporting problems, economic distress, or in bankruptcy to make the limited information they have publicly available.

The OTC Pink Limited Information® category also includes companies that may not be troubled, but are unwilling to meet OTC Markets Group’s Guidelines for Providing Adequate Current Information. Companies in this category have limited financial information not older than six months available on the OTC Disclosure and News Service or have made required filings on the SEC’s EDGAR system in the previous six months.

12 comments on “A new low; OTC Pink Limited

  1. Check out the lowest category on the OTC. The OTC no information. I think PNBC board has been operating as a “dark” company since Tony J. Sorcic was given the reins by Craig O. Wesner and his band of buffoons.

    • Remember the sidekick on the Tony J. Sorcic show, Gary Bruce. What a gem! And don’t forget Don Grubb, Steve Samet and Sharon Covert. A complete cast of bobble heads. What’s Ogaard to do, start telling the truth now? They probably won’t let him.

      • If the bank fails and the feds start their interviews, the truth may begin to roll out. Somebody will probably cop a plea, and cooperate with the government.

        A year or so ago, somebody suggested that this whole cherade would make a great movie – complete with sex scenes, of course. But the final, concluding act can’t yet be written. But casting suggestions could start now. I would nominate Danny DiVito to play Tony Sorcic, wearing a toupe parted in the middle.

  2. Today, August 23, a total of 500 PNBC shares changed hands on the OTC at $0.35 (= $175). I wonder what the brokerage fees were? Are they figured the same whether OTC, NYSE, or NASDAQ? But even at $10 per trade, that would amount to nearly 6%. Hard to make much money day-trading.

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