Good Morning Kgem and Just The 5 Of Us. Thanks fo
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Posted On: 08/16/2020 1:08:40 PM
Re: Just The 5 Of Us #906
Good Morning Kgem and Just The 5 Of Us. Thanks for your input this morning!
IMO when looking at a Dark company, like UNVC, each companies circumstances are very different. Not just for up-listing to NASDAQ but to simply get back to current status. On August 1. 2019, Doctor Dalton typed the following on Twitter: “Love it when auditors and attorneys agree”. He recognized the complexity of what they were doing and plainly stated it over a year ago. This has been a laborious, complex process since before that Tweet.
UNVC faces a daunting task both in both accounting and from a legal standpoint. Because of that, I believe that the time frame for the SEC to process all of UNVC's documentation is greater than 4-6 weeks.
I confess to being a novice when assessing their situation but I think the following is necessary before even applying for the NASDAQ.
Since filing their 15-12G form in November of 2010 to terminate their registration with the SEC, UNVC has been completely dark. They haven't submitted a form of any type in nearly 10 years.
They have around 40 10Q quarterly forms and 10 10K forms to catch up from being 10 years in arrears. That is just to get current for OTC status . We're not talking about a couple of forms for the SEC to review but 50 forms to become current. That alone could create a larger time gap than 4 to 6 weeks in my humble opinion.
I believe that additional forms are required for "material events". Material events will require at least one 8K form. What are some of the material items that they must declare?
1- Bringing additional entities into the corporate structure, ie HRI, PPSI, Teledoc, etc
2- Creating partnerships with multiple entities: Rite Aide, EuroMed, etc
3- Stating new Board members and corporate directors and key personnel, ie John C Peoples and Kenneth Grant, etc.
4- The Share repurchase program of August 6, 2012.
5- Intent to file for NASDAQ.
6- Statement listing their Accounting firm.
In summary, I'm the least qualified person on this board for listing what needs to be done for UNVC to list on the NASDAQ, but, going from a Dark pinkie to a a fully compliant OTC conglomerate is very complex. It will probably take a round of amendments or changes to documents. I believe 4-6 weeks is short of what will be required time wise.
I think the up-listing to NASDAQ will happen in phases. I think UNVC will need to be completely OTC compliant first. Once that happens, then, as an OTC member UNVC can get their share price, shareholder count and stockholder equity requirements in order for a NASDAQ uplist.
Just one knuckleheads opinion.
Airedale
IMO when looking at a Dark company, like UNVC, each companies circumstances are very different. Not just for up-listing to NASDAQ but to simply get back to current status. On August 1. 2019, Doctor Dalton typed the following on Twitter: “Love it when auditors and attorneys agree”. He recognized the complexity of what they were doing and plainly stated it over a year ago. This has been a laborious, complex process since before that Tweet.
UNVC faces a daunting task both in both accounting and from a legal standpoint. Because of that, I believe that the time frame for the SEC to process all of UNVC's documentation is greater than 4-6 weeks.
I confess to being a novice when assessing their situation but I think the following is necessary before even applying for the NASDAQ.
Since filing their 15-12G form in November of 2010 to terminate their registration with the SEC, UNVC has been completely dark. They haven't submitted a form of any type in nearly 10 years.
They have around 40 10Q quarterly forms and 10 10K forms to catch up from being 10 years in arrears. That is just to get current for OTC status . We're not talking about a couple of forms for the SEC to review but 50 forms to become current. That alone could create a larger time gap than 4 to 6 weeks in my humble opinion.
I believe that additional forms are required for "material events". Material events will require at least one 8K form. What are some of the material items that they must declare?
1- Bringing additional entities into the corporate structure, ie HRI, PPSI, Teledoc, etc
2- Creating partnerships with multiple entities: Rite Aide, EuroMed, etc
3- Stating new Board members and corporate directors and key personnel, ie John C Peoples and Kenneth Grant, etc.
4- The Share repurchase program of August 6, 2012.
5- Intent to file for NASDAQ.
6- Statement listing their Accounting firm.
In summary, I'm the least qualified person on this board for listing what needs to be done for UNVC to list on the NASDAQ, but, going from a Dark pinkie to a a fully compliant OTC conglomerate is very complex. It will probably take a round of amendments or changes to documents. I believe 4-6 weeks is short of what will be required time wise.
I think the up-listing to NASDAQ will happen in phases. I think UNVC will need to be completely OTC compliant first. Once that happens, then, as an OTC member UNVC can get their share price, shareholder count and stockholder equity requirements in order for a NASDAQ uplist.
Just one knuckleheads opinion.
Airedale
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