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Grow Capital Inc. (OTCMKTS: GRWC) Brings its Shareholders up-to-date with the Listing Status and Operational Progress



Collective wisdom is the backbone of success for every business. Additionally, it takes a lot of knowledge and research to take the business globally. Therefore, it is also imperative to engage the shareholders and investors in the day to day activities of the business. In honor of this, Grow Capital Inc. (OTCMKTS: GRWC) has updated its shareholders on the listing status and operational progress.

The technology and financial services holding company failed to file its Annual Report on Form 10-K for the fiscal year ending June 30, 2021. The essence of the Annual Report and other subsequent reports is to have the company remain compliant with recent changes to SEC Rule15c2-11.

What Consequences Will Grow Capital, Inc. Have to Shoulder?

The most notable consequence is the downgrading by OTC Markets to the Expert Market. However, this will not affect the corporate operational activities or operating results.

The company’s common stock may not be available in the public trading market for their shares. Hence, it may not reflect competitive quotes resulting in a lack of actual market value.

Nonetheless, according to CEO Terry Kennedy, they are optimistic about the company’s operational standpoint. The only struggle they have had is dealing with complex revenue recognition analysis under ASC 606 required for audit. But Grow Capital, Inc. has since established a plan to enable them to return to the regularly quoted market. The plan involves satisfying the required reporting requirements as soon as practicable to upgrade to the OTC Pink market.

The Addition of Two Industry Professionals to Forge a Better Way for TPA

PERA is a wholly-owned subsidiary of Grow Capital, Inc. and has also had a share of its challenges, including a decline in revenues during the first half of 2021. A technical issue occasioned this with the emailing system. However, Grow Capital, Inc. is committed to taking it back on its feet and has engaged two industry professionals to support TPA services to public employees.

Mark Buckley and John Thorne have innovative expertise, understand the market and have immense credibility that will fuel the growth of PERA Administrators.

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