April 6, 2011
Our company trades OTC on Pink Sheets. The Pink Sheet company charges over $4000 per year to give small companiues the ability to maintain some form of disclosure. That price has risen in each of the past 3 years. They literally have a monopoly and have small companies like ours at our knees.
We tried to file an 8K and were rejected as our only prior SEC filing was a Form D.
We understand the Rule in affect, however, please consider permitting non-repoerting companies to file 8K's. What is the harm and it would permit small businesses not to be literally "extorted" by Pink Sheets to have disclosure.
Even if the SEC charged some nominal fee, it would not only help small business bit also increase SEC revenue. At least there would be more than one option available.
Sincerely,
One of many like minded CEOs