US Listing - can we trade this yet?, page-17

I’ve tried to understand the GMed OTC market as well, and in spite of doing some research and asking direct questions to Yacov (which he didn’t answer), I’m still unsure of how OTC:GMMVF is currently setup and operating. It appears to be operating in isolation (unconsolidated) ever since the ASX GMV delisting and the last Nasdaq listing failure, when it was anticipated the OTC shares would be upgraded to the Nasdaq capital market. The listing failure has made the situation hard to understand. IMO (hard to tell as no one from the company will clarify) the OTC shares are the only ones currently unrestricted, but we don’t know how many there are on the market.

I spoke to Henry from GMed investor relations the other day regarding OTC:GMMVF as I recently bought a small parcel via the Commsec International Trade Desk (to test the process) and wanted to know what registry it would appear on. From my understanding and the information Henry provided, the GMed shares trading on the OTC market are part of a now legacy ASX capital structure. This was a limited pool of shares allocated (from existing shares outstanding) about a year ago to OTC markets to give the US market an opportunity to purchase shares in the company prior to the Nasdaq listing (and without the hassle of trading on the ASX).

I understand that the OTC market is ‘unregulated’ and Henry advised GMed OTC shares do not need to be held in a registry. I further understand from Henry that there is no process by which our former ASX:GMV can be transferred to the OTC market.

Since the Nasdaq listing has failed twice the OTC GMed market appears to be in limbo, but oddly still trading and with unconsolidated shares. I have no idea how many shares are actually trading on the OTC market, Henry didn’t know and Yacov didn’t answer my email that asked this question directly.

Just thought I’d share my very rough understanding of the OTC market. Happy to be corrected on any of the points above by anyone with a better understanding.

Is it too much to ask for GMed to properly update shareholders on this (and the many other questions shareholders have)??