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Weyland Tech (OTCQB:WEYL) has provided an update to shareholders on the status of its NASDAQ application and other key issues regarding market rumors. As quoted in the press release: As indicated in previous filings with the Securities and Exchange commission, the Company has filed its NASDAQ application and the standard review by NASDAQ staff is …
Weyland Tech (OTCQB:WEYL) has provided an update to shareholders on the status of its NASDAQ application and other key issues regarding market rumors.
As quoted in the press release:
As indicated in previous filings with the Securities and Exchange commission, the Company has filed its NASDAQ application and the standard review by NASDAQ staff is in process. We understand that that process can take up to twelve months. We have responded to initial comments and requests for information by NASDAQ staff, and those responses are under review. We have not been given a definitive timeline for approval, nor have we been notified that our application has or will be rejected. We believe that the Company currently qualifies for inclusion to the NASDAQ Capital Market and that our application will be approved following NASDAQ’s normal and standard review period and processes.
In the interim, the Company’s management has been made aware that it qualifies for the OTCQX, the highest tier of the OTC Markets Group where a number of esteemed companies such as Roche Holding, Allianz, BNP Paribas, BASF, Adidas and numerous others are listed. There are currently only 406 companies listed on the OTCQX, and the management of Weyland Tech is pursuing a transition to the OTCQX while its NASDAQ application is being processed.