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May 9, 2013

OTC Link LLC is owned by OTC Markets Group Inc., which operates OTC Link ATS, an Alternative Trading System (ATS) and electronic inter-dealer quotation system that displays quotes from broker-dealers for many over-the-counter (OTC) securities.  "Market makers" and other broker-dealers who buy and sell OTC securities can use OTC Link ATS to publish their bid and ask quotation prices.  OTC Link LLC is as SEC registered and FINRA member broker-dealer. Companies quoted on OTC Markets’ OTCQX and OTCQB markets are required to provide key financial information and be current in their disclosure.  These two markets include a range of companies from large global companies that have a primary listing on a foreign exchange to U.S. community banks, as well as venture-stage companies and those that are small, closely held and/or thinly traded. Companies on OTC Markets Group’s Pink market are not required to meet any minimum standard.  Many of these companies do not file periodic reports or audited financial statements with the SEC, making it very difficult for investors to find current, reliable information about those companies.  Investors should take extra care to thoroughly research any Pink company that does not provide current information.  Broker-dealers are required by Rule 15c2-11 under the 1934 Act to have some information about the issuer.  Ask your broker-dealer whether it has any Rule 15c2-11 information before you invest.  Check the company profile on to see if public information is available and whether the company has any risk flags indicating that there are public interest concerns. 

The Office of Investor Education and Advocacy has provided this information as a service to investors.  It is neither a legal interpretation nor a statement of SEC policy.  If you have questions concerning the meaning or application of a particular law or rule, please consult with an attorney who specializes in securities law.

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