$FRFS: MORE GREAT $FRFS INFORMATION
YES, EXACTLY AS IS EXPECTED....uh..it's a REVERSE FREAKING MERGER...
From the OTC site itself:
QUOTE:
"Undisclosed Corporate Actions — The security or company is the subject of a corporate action, such as a reverse merger , stock split, or name change, without adequate current information being publicly available."
END QUOTE.
See that wording, "REVERSE MERGER"...and adequate public info not "YET" available.....HELLO ??????
1) FRFS, aka "Firefish Inc", NO LONGER EXISTS AS A LEGAL CORPORATE ENTITY. GONE. KAPUT. NO MORE. The Nevada Secretary of State has already filed/amended the corporate charter to become "GIFA Inc", now thee NV corporation that USED TO BE, PAST TENSE, known as "Firefish". The owner, a single person per the last filed SEC 10-K (he was CEO, CFO, the single Board member etc) of Firefish, he SOLD IT or GAVE IT AWAY "LEGALLY" to GIFA Inc. Thus, for FINRA and the OTC, these shares known as "FRFS" are in a transitional state, a "legal limbo" for a brief period as FINRA gets them changed to become "GIFA Inc" and then obviously a stock symbol change will follow.
nvsos.gov/sosentitysearch/mobile/default.html#Details
There it is. Nevada Secretary of State. THAT CORP FILING/NUMBER "was" (PAST TENSE) one in the same as "Firefish Inc", which is GONE NOW.
2) So, GIFA Inc FIRST (this is a step by step process, a legal process) - it takes over the corporation once known as Firefish. DONE. It installs proper corporate officers. DONE, see the names on the Nevada site. It gets a new corporate share structure if the new officers choose to do so- THEY DID, they reduced the available shares from 1 BILLION to 500 million AND they issued/created a class of preferred shares- VERY COMMON in a reverse merger, as those shares are set-aside for the insiders and often to pay the prior owner of the shell, for selling it to them. DONE. They file new corporate charter documents and probably hold a first corporate "meeting" with minutes, with the corp Secretary and attorney and President present, it can be a one page sheet of paper. DONE.
3) NOW, they need to go to FINRA and get THESE "FRFS" shares transferred to the new corporate entity, aka GIFA Inc a duly filed NV corporation and legal entity. IN PROCESS....as we speak...per PR, per a news release and per an email from GIFA inc and per SOP for doing a reverse merger. FINRA will review paperwork, may ask for some additional documents- whatever, GIFA will likely (obviously) have hired a SEC/FINRA securities attorney familiar with reverse mergers into shell corps, and that is what is taking place as we speak. FINRA at some point will put out a PR, and change their web site to FRFS common shares trading under a new stock symbol, most likely "GIFA" or similar.
4) IN THE MEAN TIME, the OTC, which is a private held company- not a govt regulatory body or entity, they get alerted by FINRA that what "was" (PAST TENSE AGAIN) was Firefish Inc, has filed to become a "new entity" with a new share structure, a new corporate name, new officers, etc and is "IN PROCESS" but not yet complete in that process...so OTC to "caution" people, labels "FRFS" shares as "CAVEAT EMPTOR" as they "technically" do not even exist anymore as "FRFS" aka "Firefish Inc" as they corporation NO LONGER EXISTS, but is be transformed via a series of legal filings and steps, into becoming GIFA Inc, who will then "own" the common shares, once known as FRFS, which still trade today.
https://www.sec.gov/Archives/edgar/data/14458...refish.htm
5) The prior CEO/CFO, sole Board member of the India based "Firefish" had also filed a SEC form 15-12G to relieve himself of the obligation to make any current SEC or "other" filings related to the common stock- as
a) The company had essentially gone dead since it's 2015 10-K, was basically BK, was in "wind down" mode, etc
https://www.sec.gov/Archives/edgar/data/14458...ish10k.htm
b) AND, that ONE MAN OPERATION wanted to be relieved of the expense and trouble of keeping current in filing, as he really had no operational business left.
c) What was left is a "shell corp" that still had public trading shares, aka these "FRFS" shares. The shell corp was "clean" in that it has/had basically NO DEBTS OWED, NO OPERATIONS of any kind for approx 2 years, no real cash or assets left- it was empty and dormant as a tomb.
SO, GIFA, Inc either found the shell, or was approached by the prior owner to sell the shell, which is now taking place. GIFA will "merge their business" into what was "Firefish", which is essentially an empty balance sheet and approx 160 million shares of common stock.
THEN, GIFA Inc will get FINRA APPROVAL to become "GIFA" the common stock- and basically they're "official" and DONE.
6) THEN, we'd expect that GIFA Inc, trading under a new stock symbol- will begin to file SEC FILINGS and thus become a "current filer" and a "clean company" and then will approach the OTC market to get OFF THE PINK SHEETS and onto one of their higher tier listings, say the QB for example, once they present their financials, assets, balance sheet, etc AND a "current SEC filing", which will be done in time...IT's A PROCESS..STEP BY STEP...does not happen over night, or even in a few weeks...MONTHS is "normal"..and again, highly likely they've retained a U.S. "securities lawyer/firm" who is assisting in all this, as it's common to do.
THAT IS WHAT IS TAKING PLACE... A REVERSE MERGER INTO A DORMANT SHELL, once known as "Firefish Inc" which NO LONGER EVEN EXISTS, so people can stop the FIREFISH blah, blah , blah...cause it's GONE as a legal corporate entity...it's being re-born as GIFA Inc, a new Nevada Corp, duly filed with the Secretary of State in Nevada, and now working with FINRA to get the common shares of stock "in their legal name and then the OTC will follow suit with removal of WARNINGS, etc.
STEP by STEP by legal process STEP....THAT IS WHAT IS HAPPENING...no one is "surprised" by a CAVEAT EMPTOR, as Firefish Inc, DOES NOT EVEN EXIST ANYMORE...and is being changed...thus "limbo" to the OTC, until they get some updated paperwork....no big deal....SEE ?????
CREDIT: Hornet Driver
YES, EXACTLY AS IS EXPECTED....uh..it's a REVERSE FREAKING MERGER...
From the OTC site itself:
QUOTE:
"Undisclosed Corporate Actions — The security or company is the subject of a corporate action, such as a reverse merger , stock split, or name change, without adequate current information being publicly available."
END QUOTE.
See that wording, "REVERSE MERGER"...and adequate public info not "YET" available.....HELLO ??????
1) FRFS, aka "Firefish Inc", NO LONGER EXISTS AS A LEGAL CORPORATE ENTITY. GONE. KAPUT. NO MORE. The Nevada Secretary of State has already filed/amended the corporate charter to become "GIFA Inc", now thee NV corporation that USED TO BE, PAST TENSE, known as "Firefish". The owner, a single person per the last filed SEC 10-K (he was CEO, CFO, the single Board member etc) of Firefish, he SOLD IT or GAVE IT AWAY "LEGALLY" to GIFA Inc. Thus, for FINRA and the OTC, these shares known as "FRFS" are in a transitional state, a "legal limbo" for a brief period as FINRA gets them changed to become "GIFA Inc" and then obviously a stock symbol change will follow.
nvsos.gov/sosentitysearch/mobile/default.html#Details
There it is. Nevada Secretary of State. THAT CORP FILING/NUMBER "was" (PAST TENSE) one in the same as "Firefish Inc", which is GONE NOW.
2) So, GIFA Inc FIRST (this is a step by step process, a legal process) - it takes over the corporation once known as Firefish. DONE. It installs proper corporate officers. DONE, see the names on the Nevada site. It gets a new corporate share structure if the new officers choose to do so- THEY DID, they reduced the available shares from 1 BILLION to 500 million AND they issued/created a class of preferred shares- VERY COMMON in a reverse merger, as those shares are set-aside for the insiders and often to pay the prior owner of the shell, for selling it to them. DONE. They file new corporate charter documents and probably hold a first corporate "meeting" with minutes, with the corp Secretary and attorney and President present, it can be a one page sheet of paper. DONE.
3) NOW, they need to go to FINRA and get THESE "FRFS" shares transferred to the new corporate entity, aka GIFA Inc a duly filed NV corporation and legal entity. IN PROCESS....as we speak...per PR, per a news release and per an email from GIFA inc and per SOP for doing a reverse merger. FINRA will review paperwork, may ask for some additional documents- whatever, GIFA will likely (obviously) have hired a SEC/FINRA securities attorney familiar with reverse mergers into shell corps, and that is what is taking place as we speak. FINRA at some point will put out a PR, and change their web site to FRFS common shares trading under a new stock symbol, most likely "GIFA" or similar.
4) IN THE MEAN TIME, the OTC, which is a private held company- not a govt regulatory body or entity, they get alerted by FINRA that what "was" (PAST TENSE AGAIN) was Firefish Inc, has filed to become a "new entity" with a new share structure, a new corporate name, new officers, etc and is "IN PROCESS" but not yet complete in that process...so OTC to "caution" people, labels "FRFS" shares as "CAVEAT EMPTOR" as they "technically" do not even exist anymore as "FRFS" aka "Firefish Inc" as they corporation NO LONGER EXISTS, but is be transformed via a series of legal filings and steps, into becoming GIFA Inc, who will then "own" the common shares, once known as FRFS, which still trade today.
https://www.sec.gov/Archives/edgar/data/14458...refish.htm
5) The prior CEO/CFO, sole Board member of the India based "Firefish" had also filed a SEC form 15-12G to relieve himself of the obligation to make any current SEC or "other" filings related to the common stock- as
a) The company had essentially gone dead since it's 2015 10-K, was basically BK, was in "wind down" mode, etc
https://www.sec.gov/Archives/edgar/data/14458...ish10k.htm
b) AND, that ONE MAN OPERATION wanted to be relieved of the expense and trouble of keeping current in filing, as he really had no operational business left.
c) What was left is a "shell corp" that still had public trading shares, aka these "FRFS" shares. The shell corp was "clean" in that it has/had basically NO DEBTS OWED, NO OPERATIONS of any kind for approx 2 years, no real cash or assets left- it was empty and dormant as a tomb.
SO, GIFA, Inc either found the shell, or was approached by the prior owner to sell the shell, which is now taking place. GIFA will "merge their business" into what was "Firefish", which is essentially an empty balance sheet and approx 160 million shares of common stock.
THEN, GIFA Inc will get FINRA APPROVAL to become "GIFA" the common stock- and basically they're "official" and DONE.
6) THEN, we'd expect that GIFA Inc, trading under a new stock symbol- will begin to file SEC FILINGS and thus become a "current filer" and a "clean company" and then will approach the OTC market to get OFF THE PINK SHEETS and onto one of their higher tier listings, say the QB for example, once they present their financials, assets, balance sheet, etc AND a "current SEC filing", which will be done in time...IT's A PROCESS..STEP BY STEP...does not happen over night, or even in a few weeks...MONTHS is "normal"..and again, highly likely they've retained a U.S. "securities lawyer/firm" who is assisting in all this, as it's common to do.
THAT IS WHAT IS TAKING PLACE... A REVERSE MERGER INTO A DORMANT SHELL, once known as "Firefish Inc" which NO LONGER EVEN EXISTS, so people can stop the FIREFISH blah, blah , blah...cause it's GONE as a legal corporate entity...it's being re-born as GIFA Inc, a new Nevada Corp, duly filed with the Secretary of State in Nevada, and now working with FINRA to get the common shares of stock "in their legal name and then the OTC will follow suit with removal of WARNINGS, etc.
STEP by STEP by legal process STEP....THAT IS WHAT IS HAPPENING...no one is "surprised" by a CAVEAT EMPTOR, as Firefish Inc, DOES NOT EVEN EXIST ANYMORE...and is being changed...thus "limbo" to the OTC, until they get some updated paperwork....no big deal....SEE ?????
CREDIT: Hornet Driver
2
Sojourner here following God, obeying God, and cleaving to Him. The journey is onward.
