What are the risks of buying OTC stocks whose transfer agent is not verified?
I noticed that some OTC stocks have the "Transfer Agent Verified" mark, while others do not.
For example, GoldMining Inc. (GLDLF) has it, while Gold Reserve, Inc. (GDRZF) does not. I've also noticed that many ADRs (including sponsored ones) do not have the "Transfer Agent Verified" mark. For example, Danone (DANOY).
According to the OTC Markets glossary:
Transfer Agent Verified. The Transfer Agent Verified Shares Program provides investors current and reliable share data. The program enables stock transfer agents to report their clients' share data, including authorized and outstanding shares, to OTC Markets Group on a regular basis via a secure, electronic file transfer. Share data provided by transfer agents is displayed on otcmarkets.com alongside a "Verified" logo, indicating the information is reliable and trustworthy. This data is also disseminated through OTC Markets Group's market data feeds to investors and broker-dealers.
What does this mean? What are the risks of buying OTC stocks that are not "Transfer Agent Verified"?
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