Alkaline Water files for its 15c211

Rhea-AI Summary

The Alkaline Water Company (OTC: WTER) announces its plan to file Form 211 application with FINRA through a market maker under SEC Rule 15c211. This move aims to enable proprietary broker-dealer quotations and continuous market making, addressing current limitations of unsolicited quotes in Pink Sheet Current status. The company intends to uplist to OTCQB after completing the Form 211 filing, which would provide greater financial transparency and trading standards compared to Pink Sheets. This transition is expected to improve market liquidity and increase trading volume opportunities for investors.

Positive

• Planning to enable continuous market making to improve stock liquidity
• Strategic move to uplist from Pink Sheets to OTCQB
• Working towards enhanced market transparency and trading standards

Negative

• Currently to unsolicited quotes causing wider spreads
• Higher volatility and price dislocations in current trading status
• Trading difficulties for investors in current OTC Market condition

News Market Reaction – WTER

+9.09%

1 alert

+9.09% News Effect

On the day this news was published, WTER gained 9.09%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

SCOTTSDALE, Ariz., Oct. 29, 2024 /PRNewswire/ -- The Alkaline Water Company, Inc. (OTC: WTER), a leader in the beverage industry known for its purified alkaline water, enhanced with Himalayan rock salt, will be filing its Form 211 application with FINRA with an appropriate market maker (who will make in initial review under SEC Rule 15c211) to become eligible for proprietary broker-dealer quotations, publish competing quotes, and more importantly, provide continuous market making.

At the current time, the Company is Pink Sheet Current, but all quotes solely reflect unsolicited customer orders. Being limited solely to unsolicited quotes causes a higher risk of wider spreads, increased volatility, and price dislocations making it more difficult for market investors to efficiently buy or sell common stock in the OTC Market.

Mr. David Guarino (President), states…"The Company worked very hard to become a current Pink Sheet listed issuer. We are now taking the next step to allow the Company's market makers to publish proprietary quotes and continuous market making.  This will allow market investors to have greater liquidity as well as increased volume opportunities. Upon completion of the filing of the Form 211, the Company plans to start the process of uplisting to the OCTQB with OTC Markets, Inc.

The OTCBB is a quotation service that also lists over-the-counter securities. While the "Pink Sheets" are a privately held company, the OTCQB service is provided by FINRA. The other difference between the Pink Sheets and OTCBB is that there are stricter standards for OTCBB including more financial statement transparency to market investors. Again, the OTCQB, also called "The Venture Market," is the middle tier of the over the counter (OTC) market for U.S. stocks. It was created in 2010 and consists mainly of early-stage and developing U.S. and international companies that are not yet able to qualify for the OTCQX but are not as speculative as the lowest-tier Pink Sheets.

Disclaimer Regarding Forward Looking Statements 

Certain statements that we make may constitute "forward-looking statements" under the Private Securities Litigation Reform Act of 1995. Forward-looking statements include information concerning future strategic objectives, business prospects, anticipated savings, financial results (including expenses, earnings, liquidity, cash flow and capital expenditures), industry or market conditions, demand for and pricing of our products, acquisitions and divestitures, anticipated results of litigation and regulatory developments or general economic conditions.  In addition, words such as "believes," "expects," "anticipates," "intends," "plans," "estimates," "projects," "forecasts," and future or conditional verbs such as "will," "may," "could," "should," and "would," as well as any other statement that necessarily depends on future events, are intended to identify forward-looking statements. Forward-looking statements are not guarantees, and they involve risks, uncertainties, and assumptions.  Although we make such statements based on assumptions that we believe to be reasonable, there can be no assurance that actual results will not differ materially from those expressed in the forward-looking statements.  We caution investors not to rely unduly on any forward-looking statements.

About The Alkaline Water Company, Inc.

The Alkaline Water Company, Inc., are the developers of Alkaline - a purified alkaline water, enhanced with Himalayan rock salt and engineered for a smooth and delicious taste.

View original content:https://www.prnewswire.com/news-releases/alkaline-water-files-for-its-15c211-302289353.html

SOURCE The Alkaline Water Company, Inc.

FAQ

What is The Alkaline Water Company (WTER) filing with FINRA?

The company is filing Form 211 application with FINRA through a market maker under SEC Rule 15c211 to become eligible for proprietary broker-dealer quotations and continuous market making.

Why is WTER planning to uplist to OTCQB from Pink Sheets?

WTER plans to uplist to OTCQB to achieve stricter trading standards, greater financial transparency, and improved market conditions for investors compared to Pink Sheets status.

What are the current trading limitations for WTER stock?

WTER is currently Pink Sheet Current with quotes reflecting only unsolicited customer orders, resulting in wider spreads, increased volatility, and price dislocations that make trading difficult.