OTCBB Definition

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OTCBB is an electronic quotation medium for unlisted, over-the-counter securities. The OTC Bulletin Board allows Market Makers to display firm prices for domestic securities, foreign securities, and ADRs that can be updated on a real-time basis. The service also permits the display of non-firm prices for DPPs, unpriced indications of interest, and telephone numbers for participating Market Makers.

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CALL OPTION is the right to buy a security within a fixed period of time at a fixed price.

SUBSEQUENT EVENTS affect the client and occur between the balance sheet date and issuance of the financial statements. Some such events provide additional evidence about conditions that existed at the balance sheet date, such as the bankruptcy of a customer with a history of financial difficulty. The financial statements are adjusted to reflect this evidence. Conditions that did not exist at the balance sheet date, such as fire that destroyed the client's plant after the balance sheet date, may be so significant as to require disclosure.

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