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GROSS DEBT, generally, is the sum total of an entities debt obligations. In corporate finance, it is usually comprised of debt financing, irrespective of its maturity, i.e. medium and long-term (various borrowings due in more than one year that have not yet been repaid) and short-term bank or financial borrowings (portion of long-term borrowings due in less than one year, discounted notes (same technique as discounting of bills of exchange), bank overdrafts, etc.).
DEPOSITORY BANK is when a company decides to issue American Depositary Receipts, it appoints an authorized depositary, normally part of a large U.S. banking institution or trust company.
INELIGIBLE is securities not quoted on the OTCBB. A Form 211 and two copies of the issuer's information must be filed with the FINRA OTC Compliance Unit no less than three business days prior to the publication on the OTCBB in order to obtain clearance that will grant the security OTCBB eligible status.
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