i doubt that faros bought more than a few thousand in shares -certainly not enough to free NNLX from its financial woes-
otherwise NNLX would have honored its own June 2021 update to "voluntarily" file docs w the SEC -which would not satisfy the new SEC 15c211 rule - but perhaps NNLX would have learned that basic fact from the SEC if NNLX had voluntarily filed - meaning not SEC reporting in the trade sense -which would require pink current information status and audited financials and compliance w the new SEC 15c211 rule
Many years ago when i started reporting on the dangers of being 'no info' status another poster said NNLX had looked at "44 pages of regulations" to change no info status
rightly or wrongly-i've already made my opinion re stock agencies and quasi agencies political motives known- the new 15c211 is the law of the land- a law which followed 2 years of due process debate- so the new law cannot be challenged on that score though it could be reversed or relaxed in the future under a different political approach--
so rightly or wrongly its part of the current cost of being a public company
one can go back and list an increasingly forward number of impressive approaches NNLX has made to enable it to fulfill its objectives
-none of those approaches worked-
this should not be surprising in an upside down topsy turvy murrays law world-
as the majority of startups fail.
Though NNLX has had some trump cards over many startups- an actual product, many patents on said product and revenue/sales distribution ON patented petri plates-though not enough revenue to finance its own objectives
NNLX would not have made those revenue approaches attempts if it was planning on becoming private at the time
but the current failure to fill out the 15c211 required otcmarkets otciq form and pay 5500 to 7500 for 6 months to a year compliance indicates to me they dont have the finances to do so, as many have surmised.
But the most dangerous sign at this point is neither of the CEO's lawyer brothers (both of whom have been connected w NNLX) nor the Faros are apparently presently willing to finance NNLX's compliance with the new 15c211,
whether that "unwillingness" is due to lack of faith in a partnership going forward, lack of faith in the product(unlikely), terminal exhaustion w the costs /procedures/red tape of being a public company at this time and thus a willingness to let the company go private with no payout to the stockholders, or internecine warfare (infighting about approaches methods personalities etc).
Pure logic.
otherwise NNLX would have honored its own June 2021 update to "voluntarily" file docs w the SEC -which would not satisfy the new SEC 15c211 rule - but perhaps NNLX would have learned that basic fact from the SEC if NNLX had voluntarily filed - meaning not SEC reporting in the trade sense -which would require pink current information status and audited financials and compliance w the new SEC 15c211 rule
Many years ago when i started reporting on the dangers of being 'no info' status another poster said NNLX had looked at "44 pages of regulations" to change no info status
rightly or wrongly-i've already made my opinion re stock agencies and quasi agencies political motives known- the new 15c211 is the law of the land- a law which followed 2 years of due process debate- so the new law cannot be challenged on that score though it could be reversed or relaxed in the future under a different political approach--
so rightly or wrongly its part of the current cost of being a public company
one can go back and list an increasingly forward number of impressive approaches NNLX has made to enable it to fulfill its objectives
-none of those approaches worked-
this should not be surprising in an upside down topsy turvy murrays law world-
as the majority of startups fail.
Though NNLX has had some trump cards over many startups- an actual product, many patents on said product and revenue/sales distribution ON patented petri plates-though not enough revenue to finance its own objectives
NNLX would not have made those revenue approaches attempts if it was planning on becoming private at the time
but the current failure to fill out the 15c211 required otcmarkets otciq form and pay 5500 to 7500 for 6 months to a year compliance indicates to me they dont have the finances to do so, as many have surmised.
But the most dangerous sign at this point is neither of the CEO's lawyer brothers (both of whom have been connected w NNLX) nor the Faros are apparently presently willing to finance NNLX's compliance with the new 15c211,
whether that "unwillingness" is due to lack of faith in a partnership going forward, lack of faith in the product(unlikely), terminal exhaustion w the costs /procedures/red tape of being a public company at this time and thus a willingness to let the company go private with no payout to the stockholders, or internecine warfare (infighting about approaches methods personalities etc).
Pure logic.
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