I was able to have a conversation with a person fr
Post# of 56323
Posted On: 12/09/2015 12:09:24 PM
I was able to have a conversation with a person from FINRA today. She suggested I check the Daily List which would post any company events.
http://otce.finra.org/DailyList
She said in general, not specific to FITX, FINRA will review a company's request to have a corporate action to make sure they have met all the requirements as outlined by SEC then execute it. Interestingly, she kept referring to this event re:FITX as reverse split. I asked her about her choice of language and she said that as long as there was not a new company officially registered or trading (?), the event would fall under a reverse sit. Also, if I understood her correctly, the process is not one
of getting approved. It is of just completing necessary forms and filings. She also said it is a lengthy process but recommended I check that daily list... Daily.
This was helpful to me so I am hoping it will be helpful to others.
CW
http://otce.finra.org/DailyList
She said in general, not specific to FITX, FINRA will review a company's request to have a corporate action to make sure they have met all the requirements as outlined by SEC then execute it. Interestingly, she kept referring to this event re:FITX as reverse split. I asked her about her choice of language and she said that as long as there was not a new company officially registered or trading (?), the event would fall under a reverse sit. Also, if I understood her correctly, the process is not one
of getting approved. It is of just completing necessary forms and filings. She also said it is a lengthy process but recommended I check that daily list... Daily.
This was helpful to me so I am hoping it will be helpful to others.
CW
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