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Meritage Hospitality Group Inc is one of the nation's premier restaurant operators, with more than 300 restaurants in operation located in Arkansas, Connecticut, Florida, Georgia, Indiana, Massachusetts, Michigan, Missouri, Mississippi, North Carolina, South Carolina, Ohio, Oklahoma, Tennessee, Texas, and Virginia. The Company owns six independent restaurants under two concepts throughout Michigan which include Morning Belle restaurants and Stan's Tacos.

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The following post was written and/or published as a collaboration between Benzinga’s in-house sponsored content team and a financial partner of Benzinga.

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The 6 Most Common Types Of Securities That Trade On OTC Markets

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The following post was written and/or published as a collaboration between Benzinga&rsquo;s in-house sponsored content team and a financial partner of Benzinga.

Executives from 25 OTC-traded companies in the consumer and materials sectors recently gathered together for the largest <a href="https://www.virtualinvestorconferences.com/events/event-details/investor-conference-december-2019">Virtual Investor Conference</a> of 2019. We compiled highlights from a select few that are trying to capitalize on some emerging products and asset classes in 2020.

<h3>Grayscale Bitcoin Trust: Opening Up Bitcoin To More Investors</h3>

Grayscale Bitcoin Trust (BTC) (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/GBTC#OTCQX">GBTC</a>), the investment trust that holds bitcoin, remains one of the most popular ways to trade bitcoin, despite the crypto&rsquo;s weak 2019 and the introduction of several other derivative products.

With over $9 billion worth of shares traded through November, GBTC is the second-most actively traded security on OTC Markets in 2019. Although Grayscale manages roughly $2.6 billion in assets among its 10 cryptocurrency-backed products, GBTC, which launched in 2013, is by far its largest and most active.

Grayscale&rsquo;s first-mover advantage in securitizing bitcoin helped it gain mainstream attention during bitcoin&rsquo;s great rally of 2017. The company recently filed a Form 10 with the SEC which, if approved, would make GBTC the first digital currency investment to be registered as an SEC reporting company, opening the Trust up to more institutional investors.

&ldquo;We&rsquo;re seeing now a real institutionalization of the digital currency asset class, as well as a lot of infrastructure being built around digital assets like bitcoin,&rdquo; said Michael Sonnenshein, managing director at Grayscale Investments. &ldquo;We&rsquo;re seeing regulators weigh in on digital currencies and ensuring that the right investor protections are in place...we&rsquo;re seeing legacy financial institutions like Fidelity launching digital currency custodial businesses...these are some of the signals that are super exciting for the investment community.&rdquo;

<h3>G5 Entertainment: Finding A Sticky Audience In Gaming&rsquo;s Hottest Segment</h3>

G5 Entertainment AB (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/GENTF#OTCQX">GENTF</a>) develops and publishes free-to-play family-friendly mobile games. There are over 2.1 billion gamers worldwide today, and mobile gaming has more players and is the fastest-growing of any other segment of the gaming market. Global revenues are expected to reach $91 billion by 2021 with a compounded annual growth rate of 13%.

According to Co-Founder and CEO Vlad Suglobov, G5 Entertainment has increased revenues by 8.5x since 2013. 54% of G5&rsquo;s revenue&mdash;which the company generates via in-app purchases that enhance gameplay&mdash;come from North America, he said, while 26% come from Asia.

The company&rsquo;s most successful games to date are Hidden City, Jewels of Rome, and Homicide Squad. Jewels of Rome became G5&rsquo;s most successful launch upon its release in May 2019, and is the company&rsquo;s top wholly owned game by revenue.

The key growth driver, however, lies in a demo that Suglobov says is surprisingly sticky. &ldquo;The biggest part of our audience is actually women 35-plus. We see that segment as one of the most underserved, interesting, loyal, and the biggest consumers of the types of games we make,&rdquo; he said.

<h3>Meritage Hospitality Group: It&rsquo;s All About Breakfast</h3>

Meritage Hospitality Group (OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/MHGU#OTCQX">MHGU</a>) is a national restaurant operator, with 333 establishments in 16 states&mdash;the vast majority of which are Wendy&rsquo;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WEN#NYSE">WEN</a>) franchises. The company has been able to grow substantially this decade&mdash;from $92 million in sales in 2011 to an estimated $475 million in sales in 2019&mdash;largely through acquisitions of new franchises.

President and CEO Robert Schermer discussed several catalysts that the company expects will drive growth in 2020, but the most important seems to be the rollout of Wendy&rsquo;s breakfast. This is the fast-food chain&rsquo;s fourth attempt at launching a breakfast menu to compete with the likes of McDonald&rsquo;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) and Dunkin Brands (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DNKN#NYSE">DNKN</a>).

&ldquo;What is different in this opportunity for breakfast is Wendy&rsquo;s has set a very low break-even point for franchisees,&rdquo; Schermer said. &ldquo;They&rsquo;ve really simplified the operational execution with a drive-thru focus, which is really our strong suit in this business. And it is a national launch. Where in the past we&rsquo;ve gone by regions...this is the entire system going in on breakfast. I do think we&rsquo;ll get our fair share of the market.&rdquo;

Schermer said they expect breakfast to generate between $27-$32 million in sales for Meritage in 2020.

To view the full presentations from Grayscale, G5, and Meritage Hospitality, or any other of the 25 companies that presented, <a href="https://www.virtualinvestorconferences.com/events/event-details/investor-conference-december-2019">click here</a>.

The preceding post was written and/or published as a collaboration between Benzinga&rsquo;s in-house sponsored content team and a financial partner of Benzinga. Although the piece is not and should not be construed as editorial content, the sponsored content team works to ensure that any and all information contained within is true and accurate to the best of their knowledge and research. This content is for informational purposes only and not intended to be investing advice.

There are over 10,000 different securities from 100 countries that trade on the three tiers of OTC Markets.&nbsp;

We use the term &ldquo;security&rdquo; as a catch-all because it can refer to a variety of financial instruments. Even though all these instruments give investors some amount of ownership or rights in a company, they do have key differences, and it&rsquo;s important that anybody investing in securities understand the nuances that differentiate them. For example, most of the securities below are commonly traded on both exchanges and OTC Markets, though there are a couple of exceptions.&nbsp;

These are the six most common types of securities you&rsquo;ll find on OTC Markets.&nbsp;

<h3>Common Stock</h3>

These are the most common type of security, as the vast majority of publicly traded shares are common stocks.&nbsp;

Common stocks typically carry one vote per share&mdash;allowing owners the right to participate in shareholder votes&mdash;and may also come with a dividend. Smith-Midland Corp (OTCQX:<a class="ticker" href="/stock/SMID#OTCQX">SMID</a>) is an example of a common stock.&nbsp;

<h3>Preferred Stock</h3>

The biggest difference between preferred stocks and common stocks is that owners of preferred shares are higher up the equity food chain. Preferred shareholders have a priority claim over a company&rsquo;s equity, meaning they generally receive higher or more dividends and get paid out first in the event of a bankruptcy. Because of this, preferred shares behave similarly to bonds.&nbsp;

Preferred stocks also do not come with voting rights, and their tickers will end in &lsquo;P&rsquo; to make it obvious that they are preferreds. Meritage Hospitality Group, Inc. is an example of a company that has both a common stock (OTCQX:<a class="ticker" href="/stock/MHGU#OTCQX">MHGU</a>) as well as a preferred stock&nbsp; (OTCQX:<a class="ticker" href="/stock/MHGUP#OTCQX">MHGUP</a>).&nbsp;

<h3>ADR / ADS</h3>

American Depositary Receipts (ADRs) or American Depositary Shares (ADSs) allow for foreign companies to have their shares publicly traded in the U.S. and settled in U.S. dollars. The idea is that this gives U.S. investors access to the shares of a foreign company in a way that makes them look and feel like U.S. securities. As a result, ADR shareholders can get access to a foreign company&rsquo;s dividends and capital gains without having to go directly to an overseas exchange. 
American Depositary Receipts are created by depositary banks. These banks can create sponsored ADRs, meaning there&rsquo;s a formal agreement between the company and the issuing depositary bank, or unsponsored ADRs with no formal agreement. Some ADRs, particularly the unsponsored kind, may not carry voting rights. ADRs may come with fees assessed by the depositary bank.

Just like how preferred symbols will end in &lsquo;P&rsquo;, ADR symbols on OTC Markets end in &lsquo;Y&rsquo; to alert shareholders that they are an ADR.&nbsp;

Heineken NV ADR (OTCQX:<a class="ticker" href="/stock/HEINY#OTCQX">HEINY</a>) and Experian PLC ADR (OTCQX:<a class="ticker" href="/stock/EXPGY#OTCQX">EXPGY</a>) are two examples of ADRs.&nbsp;

<h3>Foreign Ordinary Shares</h3>

Foreign ordinary shares are common shares of a foreign company that trade in the U.S. In other words, they are securities bought by U.S. investors in foreign companies directly - without the ADR &ldquo;wrapper.&rdquo;&nbsp;

Foreign ordinary shares are similar to ADRs in that they provide exposure to foreign companies. The biggest difference however is that, even though U.S. investors can trade them via OTC Markets, foreign ordinary shares are settled and custodized on the company&rsquo;s home market. As dividends get paid in foreign currency, they will require the investor to convert to USD.

The tickers for foreign ordinary shares end in &lsquo;F&rsquo;, such as Air Canada (OTCQX:<a class="ticker" href="/stock/ACDVF#OTCQX">ACDVF</a>). In many cases, a company will have both an ADR and an F share trading on OTC Markets, for example, BASF SE (OTCQX:<a class="ticker" href="/stock/BASFY#OTCQX">BASFY</a>) (OTCQX:<a class="ticker" href="/stock/BFFAF#OTCQX">BFFAF</a>).

<h3>Unit</h3>

A unit is an individual share of some sort of structured investment, typically a fund or trust. Real Estate Investment Trusts (REITs) are commonly broken down into units, the shares of the REIT that can be traded.&nbsp;

American Hotel Income Properties (OTCQX:<a class="ticker" href="/stock/AHOTF#OTCQX">AHOTF</a>) is a REIT, and an example of an investment whose securities are defined as units.&nbsp;

<h3>Warrant</h3>

A warrant is similar to an option, in that it gives the owner the right to buy a company&rsquo;s underlying stock at a fixed price during a specific time period. &nbsp;

The biggest difference is, unlike options, companies issue their own warrants, so when the holder of a warrant exercises their right to buy or sell, the shares are coming directly from the company. Warrants can trade on an exchange, but also commonly trade on OTC Markets.&nbsp;

Symbols for warrants end in &lsquo;W&rsquo;. Tidewater Inc. (OTCQX:<a class="ticker" href="/stock/TDGMW#OTCQX">TDGMW</a>) is an example of a security structured as a warrant.&nbsp;

OTC Markets is a content partner of Benzinga

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