(Total Views: 396)
Posted On: 06/13/2019 10:04:49 AM
Post# of 22940
Re: Steel Reserve #22044
Exactly, Bill has 4 options right now with TPAC.
1) Do nothing and the ticker gets suspended and revoked. "Traders lose 100%"
2) Pay an Auditor and Attorney to file 2 years of back filings to get current. "Bill says he has no money to do this so this is really not even an option"
3) File a Form 15 stopping any SEC actions against TPAC protecting TPAC and its shareholders from losing 100% of their investment. If he files a form 15 he can always file a S-10 in the future to once again become a SEC reporting company.
4) Find a buyer willing to take a seriously delinquent shell company with huge debt and bring it current.
Its my personal opinion Bill will do #1 and let the ticker be revoked. He is simply communicating with shareholders enough to satisfy his fiduciary duty to avoid possibility of legal action. TPAC has massive amounts of debt still due and Bill will let the ticker be revoked to protect his own personal property and liabilities.
1) Do nothing and the ticker gets suspended and revoked. "Traders lose 100%"
2) Pay an Auditor and Attorney to file 2 years of back filings to get current. "Bill says he has no money to do this so this is really not even an option"
3) File a Form 15 stopping any SEC actions against TPAC protecting TPAC and its shareholders from losing 100% of their investment. If he files a form 15 he can always file a S-10 in the future to once again become a SEC reporting company.
4) Find a buyer willing to take a seriously delinquent shell company with huge debt and bring it current.
Its my personal opinion Bill will do #1 and let the ticker be revoked. He is simply communicating with shareholders enough to satisfy his fiduciary duty to avoid possibility of legal action. TPAC has massive amounts of debt still due and Bill will let the ticker be revoked to protect his own personal property and liabilities.
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