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KonaTel transfers unclaimed shares to Texas Comptroller and plans OTC Markets listing
KTELKonaTel, Inc.
Effective October 30, 2026, KonaTel transferred 98,600 shares held by 490 shareholders as unclaimed property to the Texas Comptroller of Public Accounts. The company intends to file a Form 15 to deregister its shares under the Exchange Act and withdraw registration for 5,850,000 unissued shares from three S-8 Registration Statements related to its 2018 Incentive Stock Option Plan. KonaTel plans to list as an Alternative Reporting Company on the OTC Markets Group's OTCID Tier to save approximately $250,000 in annual legal and auditing costs while expanding its CPaaS services, including a new POTS replacement service. The company intends to return to full reporting status after this expansion effort.