TopDog, if it is true that Roth never has received any kind of letter or notice from the DTCC stating the real reason for the global lock then that would mean the note to shareholders from management sitting on the corp website about the global lock is just managements speculative guesswork about why the lock was placed on the stock. I happen to think the theory of massive naked short selling was in fact the culprit but if we know that Roth still does not know the true nature of the global lock (officially) then it could be that the NSS theory may not be true and the reason for the lock could be something different.
There is now an official alternative pathway for issuers seeking communication about global locks with the DTCC. If the DTCC does not respond, perhaps it is time for Roth to take the next step and get the lawyer(s) to lean on the SEC to assist the process in appealing the DTCC decision. Roth should know about this new process for issuers because he appears to have been engaged in the DTC eligibility discussion board on the LinkedIn site. So the question is, has he already pursued this new path of an SEC appeal/mediation or not?! Hopefully Roth is not just sitting week after week, month after month, year after year hoping and praying to one fine day see a letter from the DTCC in his mailbox, which will never come.
I think for certain by July 1 2013, if the global lock is still active and we have not heard any word from management and there has been no movement I think any shareholders who remain in SFIO need to get together and take this company back into shareholder hands, using the rights of shareholders via the bylaws, vote to change the bylaws to not allow preferred shares, vote out management and install our own CEO, demand total transparency including filings to get the company to current reporting status for the OTC markets site at the very least. Many shareholders who are left have probably lost at least a couple thousand dollars from this disaster of an investment, I think that if there was hope to get the corp entity back on its feet and shareholders were once again in control, each could decide to pool even just a couple thousand each and there would probably be enough operating capital to at least get transparency and be able to write a letter to the SEC to demand an appeal to the DTC lock. Sometime later, there would need to be a lawyer to look into the sketchy Denverson "deal" which never was "fully executed", surprise, surprise. Where did those BVBA "assets" go??! If they just evaporated then they never had any worth in the first place, if Denverson has control of them yet they have not paid SFIO the $1.1M promised from the deal then I would think a court would demand them to send the money to SFIO. Then perhaps there could be the chance for a functioning, operating business in SFIO. It is a sad state of affairs and as of now the current CEO has the corp in a dead state of limbo, the undead. It's pathetic and shareholders deserve more. Roth even has the only last piece of this company, the corp website, up for sale for $1,500; been up for sale for almost a year but no one wants it. Roth issued himself 1M pref shares on the DAY OF THE LOCK! This supposedly gave him full control over the company, effectively ripping voting power out of the hands of shareholders who own common shares. There has been zero discussion of that one point and I think it is a major cause for concern for shareholders and something for which Roth needs to answer. How can management tell us that there is allegedly a lawyer on the DTC lock when they are scratching the bottom of the bucket for any loose change this company still has, like a few hundred for the corp website, etc?? Lawyers cost hundreds of dollars per hour! It does not add up. At this point, hate to say it but the TS, Roth, Tammy story seems to have reached the end of its maze and it really looks like shareholders have been just fed a bunch of lies and tall tales about hopes of getting through the "troubled waters" for months and years while the executives just tie up lose ends on their side and dissapear, never to be heard from again, possibly even with the $1.1M the company was supposed to receive from the "executed" Denverson "deal". I honestly hope that is not the reality here but if we learn eventually that that is what happened, there will be a lawsuit. Period.
GLTY
