Green Star Alternative Energy, Inc. was pleased to announce today that it has filed Form 10 with the U.S. Securities and Exchange Commission (SEC) to become a fully reporting company. This form must be filed to obtain eligibility to be listed on NASDAQâ€™s OTC Bulletin Board quotation network.
In addition to filing the Form 10, companies must also remain current in their compulsory filings with the SEC for eligibility. Green Star has maintained the necessary audited documentation to comply with OTCBB regulations, even though its stock is currently being listed on the Pink Sheets where it is not required. The company believes this commitment to transparency will accelerate the approval process. It has been estimated that the process will take less than sixty days.
J. M. De Castro, CFO of Green Star Alternative Energy, stated, â€œThis is a natural progression for Green Star. We have maintained strict standards for our financial accounting records and belong on a more prominent stage. We have a corporate plan that will continue to increase our exposure to the investment community and provide greater value for our shareholders.â€