(Total Views: 229)
Posted On: 09/21/2020 12:45:21 PM
Post# of 36568
Jason, that is just to get a preliminary registration fee. The way these filings work, you have to pay a registration fee upfront. If you put 400M shares down, you may owe a fee of $500K, which we could not pay right now. With 1M shares, they determine a fee they can pay, then when the shares get updated and listed, the new fee is determined. Then they have money to pay the difference.
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Disclaimer: Of course, all of this is my opinion and you should not make any investment decisions based on my opinion. I have not received any non-public information.
