For those who are unaware of how OTC markets are set up, there are actually three main tiers within the realm; OTCQX, OTCQB and OTC Pink. Usually, the more profitable or established companies trade within OTCQX, as this is the 'top' tier with regards to being more strict requirements. Up next is OTCQB, which can be thought of as a middle ground between pink sheets and those trading on OTCQX.
Lastly, we get to OTC Pink, which is by far the most common market for companies to trade that aren’t listed on a major exchange. Within the OTC Pink market are three segments; Pink Current, Pink Limited and Pink No Information. As the names suggest, No Information companies within OTC Pink don’t really disclose much, if any, information to the public about the status of the company. Pink Limited companies tend to release some of the usual information, such as an annual report or at least telling the public just what they’ve been up to. Finally, we have OTC Current, which tends to be the companies that file quarterly earnings, annual reports and are relatively transparent about their operations.
It is no easy feat for a small company to get to the OTC Pink Current status due to costs as well as the increased scrutiny that transparent companies face, however that’s exactly what Caduceus Software Systems Corp (OTCPK:CSOC) did today. According to the release, after submitting the required filing and providing the issuer attorney letter, Caduceus’s request has been processed and completed and the company is now an issuer in good standing with the OTC Markets.
Caduceus Software is engaged in providing medical software to the health-care industry. The company software helps in patient management, patient appointment scheduling, physician memorandum recording, medical symptom and ailment recording and digital image recording.
Traders were excited on the news are shares got up to $0.054/share (+9.87%) during today’s session. This move is a strong continuation of the success this stock has had over the last year, coming from a 52-week low of just $0.0008/share.
