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Posted On: 01/31/2020 6:15:59 PM
Post# of 36541
MMPJOE:
As it is now 2 full weeks since the con call, I am increasingly concerned by the delay of the dividend processing, especially since you emphasized how many items on your business agenda must follow the completion of the dividend. In doing my DD on FINRA's process and delay capabilities , I posted some quotes and summaries of the rule that gave FINRA the right to delay/deny a corporate action (See: post #11617).
This rule targets some pretty ominous intentions/activities by companies (fraud, previous infractions, approval of an action that can't be successfully processed, etc.), as well as some fairly clerical causes (basic info requests unrelated to wrongdoing, incomplete application, etc.) for FINRA delays. It seems that you have implied on the call that there are some fairly mundane reasons for our current delay.
If the delay is not going to be overcome in the near future, with div dates expected to be released some time next week by your best interpretation, I believe you owe it to GNBT investors to detail the reasons for the holdup through a PR. While you may not be able to give specifics as to the delay or a date for its resolution, I believe you could at least reference the part/s of the rule FINRA is concerned with (or broadly what it is investigating?).
Hopefully, overcoming this div delay is merely a matter of time due to paperwork or some other benign part of the process, as it seems you have implied. Knowing that this is the nature of the problem would sure go a long way toward easing your shareholders' minds as well as give us some basis for understanding the timeline for this critical piece of the puzzle.
As it sits now, there are so many reasons FINRA could be holding us up that we can't help but consider that there could be a serious delay or issue at hand, or that the div could ultimately be denied by FINRA. Are we hamstrung by the CMP/Veneto mess or related accusations? Is there some event we are completely unaware of that could cause us to be delayed for months? Is it an issue of not being able to track shares that do/do not get the dividend, and implementing the div has become an impossible task? You know the answers to these questions. Unfortunately, we do not, so all of these options is possible in our minds.
I appreciate that you can't comment materially on this subject here, but I just wanted to express again that this is a major concern for many of your shareholders. If you care to comment to me directly, feel free to send me a PM.
Thanks in advance for anything you can do to clear this up for us, as there are many of us that stand ready to add to our holdings as the picture becomes clearer.
As it is now 2 full weeks since the con call, I am increasingly concerned by the delay of the dividend processing, especially since you emphasized how many items on your business agenda must follow the completion of the dividend. In doing my DD on FINRA's process and delay capabilities , I posted some quotes and summaries of the rule that gave FINRA the right to delay/deny a corporate action (See: post #11617).
This rule targets some pretty ominous intentions/activities by companies (fraud, previous infractions, approval of an action that can't be successfully processed, etc.), as well as some fairly clerical causes (basic info requests unrelated to wrongdoing, incomplete application, etc.) for FINRA delays. It seems that you have implied on the call that there are some fairly mundane reasons for our current delay.
If the delay is not going to be overcome in the near future, with div dates expected to be released some time next week by your best interpretation, I believe you owe it to GNBT investors to detail the reasons for the holdup through a PR. While you may not be able to give specifics as to the delay or a date for its resolution, I believe you could at least reference the part/s of the rule FINRA is concerned with (or broadly what it is investigating?).
Hopefully, overcoming this div delay is merely a matter of time due to paperwork or some other benign part of the process, as it seems you have implied. Knowing that this is the nature of the problem would sure go a long way toward easing your shareholders' minds as well as give us some basis for understanding the timeline for this critical piece of the puzzle.
As it sits now, there are so many reasons FINRA could be holding us up that we can't help but consider that there could be a serious delay or issue at hand, or that the div could ultimately be denied by FINRA. Are we hamstrung by the CMP/Veneto mess or related accusations? Is there some event we are completely unaware of that could cause us to be delayed for months? Is it an issue of not being able to track shares that do/do not get the dividend, and implementing the div has become an impossible task? You know the answers to these questions. Unfortunately, we do not, so all of these options is possible in our minds.
I appreciate that you can't comment materially on this subject here, but I just wanted to express again that this is a major concern for many of your shareholders. If you care to comment to me directly, feel free to send me a PM.
Thanks in advance for anything you can do to clear this up for us, as there are many of us that stand ready to add to our holdings as the picture becomes clearer.
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