"Quite possible. When EG & S, were appointed in Aug 23, it was for CR etc and penny listing on the OTC - QB. However that now seems to have changed with the Company deciding to terminate the OTC - QB listing process.
EAS had been appointed by Magnum as its 'Corporate Strategist' to inform and shape the financing strategy for accessing all US Capital Markets. Now it seems, EAS will pursue a strategy of listing on a 'Major' US Stock Exchange, rather than the OTC - QB. EG & S will provide the legal oversight to support and facilitate that activity". ------------------------------- The OTCQB functions as follows. (as you pointed out, you said you knew this) The OTCQB market is the second tier of the markets operated by OTC Markets Group, below OTCQX and above Pink. Unlike the OTCQX market, there are no minimum financial standards on the OTCQB market other than a US$0.01 minimum bid price (penny listing) and the requirement that companies may not be in bankruptcy.
The phrase "penny listing" wasn't mentioned in the Aug release, I added that in my above comment, to reply to GoldStar, as I know how the OTC functions.. If you look at the screenshot below, you will see the mention of the OTC termination.
You don't need to apologise, you just read to far into my comment.
MGU Price at posting:
2.6¢ Sentiment: None Disclosure: Held
