GarthICBS Member Level Tuesday, 11/25/14 04:07
Post# of 2102
Posted On: 11/25/2014 4:22:05 PM
GarthICBS Member Level Tuesday, 11/25/14 04:07:05 PM
Re: None
Post # of 51773
So much BS.
1. Mr Jedda has not resigned. He never took the position of CFO as if you had bothered to check with our filings at the SEC. It was decided at a board meeting that he would wait until all of our filings would be complete before taking that position.
AS PREVIOUSLY POSTED ON THIS BOARD. THIS IS WHAT IS HAPPENING.
Canwealth management and its attorneys are working on the amended S-1 form that would make the USG1's shares unrestricted and will also introduce a few other changes into the IPO filing. As soon as this work is completed the amended S-1 will be re-filed with SEC"
Two weeks ago every shareholder in USG1 received a "selling share holder" form ( NON BINDING agreement to sell ) that they need to fill out in order to be able to make they shares unrestricted and tradable as soon as IPO hits the market. The reason FINRA did not approve the application at first was because all the shares were restricted under the current structure and there were no possibility of public float. Once enough shares become unrestricted (at least 1M), FINRA is expected to approve.
USG1 shareholders are holding 6.5 million shares.
I know for sure that a few USG1 people ( holding 1.65 million shares combined) have already signed the necessary papers and sent it back to the attorneys who handle this. I am sure most shareholders are willing to sign this form , why not have your shares unrestricted after years of waiting ?! They probably have at least 4 times more shares pledged than they need to satisfy FINRA's request.
IF YOU WANT THE LATTEST NEWS ON CANWEALTH VISIT THE SEC FILINGS.
As far as ICBS goes, all contemplated projects are on hold until we finish with Canwealth.
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