The OTC Bulletin Board (OTCBB) is a regulated quotation service that displays real-time quotes, last-sale prices, and volume information in over-the-counter (OTC) equity securities. An OTC equity security generally is any equity that is not listed or traded on NASDAQ or a national securities exchange. OTCBB securities include national, regional, and foreign equity issues, warrants, units, American Depositary Receipts and Direct Participation Programs.

The OTCBB is a quotation medium for subscribing members, not an issuer listing service, and should not be confused with The NASDAQ Stock Market. There are no minimum quantitative standards which must be met by an issuer for its securities to be quoted on the OTCBB; however, the new eligibility rules limits quotations on the OTCBB to the securities of issuers that are current in their reports filed with the SEC and other regulatory authorities. Issuers do not have any filing or reporting requirements with The NASDAQ Stock Market, Inc., or the NASD. Market Makers will be required to provide the periodic financial reports filed by OTCBB issuers with the SEC or other regulatory authorities pursuant to the eligibility rule.

NASDAQ has no business relationship with the issuers of securities quoted on the OTCBB. Investors must contact a broker/dealer to trade OTCBB securities. Investors do not have direct access to the OTCBB service. The Securities and Exchange Commission's (SEC's) Order-Handling Rules which apply to NASDAQ-listed securities do not apply to OTCBB securities. Quarterly and Annual financial information, as well as other company information is filed with the SEC by all OTCBB issuers. OTCBB issuers information can be viewed at the SEC's website at www.sec.gov.

OTCBB companies can merge with private companies by way of a share exchange. This process is called a "reverse merger."