Facebook Update - August 17 [after close]:
"I'm in the middle of responding to a lot of compliance analysts "round of comments" on several of our tickers. So, to make things easier and so that tonight I can get back with my CPA and attorneys addressing those issues.
I'm posting here, an explanation letter that shares similar issues and details that I'm correcting and editing in our filings for a lot of our tickers. As you will read, the good news, is that mostly its simple utilitarian formatting, new templates , small details and mistakes that we are correcting... So its just a matter of time...When we get them all "OTCPK Current".... stay tuned...
I posted this on PBHG ....
We just submitted (what I hope to be) THE last set of edits and updates to our attorney Brian. This "round of comments" came from him after we worked this weekend to update everything. So far, so good. (Now please remember, that after Brian reviews this round and posts his "Attorney's letter as to the Current status", the OTCIQ analysts, and OTC Markets will still do another round of reviews, and YES, there is still a chance of "a round of more comments" from them as well. That is the deal and I'm trying to be transparent even if the news are not what we want to hear!).
I'm also editing and doing updates on my other tickers because it seems that the compliance is more "anal retentive" and the amount of new formats filing templates also contributes to complexity of the filings . Even some of our tickers that ARE in "current status", such as AURI, are getting "comments and opinions" from the analyst concerning some formatting issues. Now, I've been getting emails from investors who are just like myself are very frustrated. So let me just state the following:
The good news, is; all of our edits and submission corrections mostly have to do with 'formatting" and details that in the past were not focused on as much as they are now in the new forms and formats.
Here is an example; We did NOT put the "affiliates names" and "control persons" in ( ) parenthesis on the charts in sections 3A and 3B... in Disclosure documents.... Another "Faux Pas" had to do with the fact that somehow our OTCIQ corporate profile page had 12/30 as our financial "fiscal" year end. Therefore, the OTCIQ system folders contained dates that were 1 day different than the Callendar days... i.e. end of year was listed as 12/30/19...and not 12/31/19... Q1 was March 30,2019.... as it was supposed to be March 31/19.... So that small detail did not match with our filings and that kicked it back as well...We corrected all that. Also, my 1.2 billion share certificate that was retired, needed a footnote. Also, all the cancelled, or retired Convertible debt, and/or notes, had to be underlined better and we did that as well. And such small details as showing 0 (zero) balance on these notes....we did that as well...so actually, it made or financial picture a whole lot better, and easier to decipher as far as notes, like the huge one that I acquired, so that the company will not be hit with any toxic conversions.
So, as we say: "in closing" , while I do feel your frustration and sometimes a feeling of hopelessness, we are actually getting closer and closer. Now, I don't know, IF because everyone is working from home they seem to be "EXTRA" picky and/or is it because all the formats and template filings have been changed to a new format??? In any case, we're here, on the clock, and making things move along. And yes, we too contributed to the confusion because in some cases we had tickers with over 5 years worth of backed up files that we are now condensing to a 2 year deal, so yes, things are a bit slow...but we're getting there...simple as that!
Stay tuned, and I will post more updates.
I'm not trying to make a "joke" out of the situation , I'm just trying to impress on all of you that we are here to do what's right and correct to protect our investments and stay transparent to you,n o matter how long it takes to get it right!
"I'm in the middle of responding to a lot of compliance analysts "round of comments" on several of our tickers. So, to make things easier and so that tonight I can get back with my CPA and attorneys addressing those issues.
I'm posting here, an explanation letter that shares similar issues and details that I'm correcting and editing in our filings for a lot of our tickers. As you will read, the good news, is that mostly its simple utilitarian formatting, new templates , small details and mistakes that we are correcting... So its just a matter of time...When we get them all "OTCPK Current".... stay tuned...
I posted this on PBHG ....
We just submitted (what I hope to be) THE last set of edits and updates to our attorney Brian. This "round of comments" came from him after we worked this weekend to update everything. So far, so good. (Now please remember, that after Brian reviews this round and posts his "Attorney's letter as to the Current status", the OTCIQ analysts, and OTC Markets will still do another round of reviews, and YES, there is still a chance of "a round of more comments" from them as well. That is the deal and I'm trying to be transparent even if the news are not what we want to hear!).
I'm also editing and doing updates on my other tickers because it seems that the compliance is more "anal retentive" and the amount of new formats filing templates also contributes to complexity of the filings . Even some of our tickers that ARE in "current status", such as AURI, are getting "comments and opinions" from the analyst concerning some formatting issues. Now, I've been getting emails from investors who are just like myself are very frustrated. So let me just state the following:
The good news, is; all of our edits and submission corrections mostly have to do with 'formatting" and details that in the past were not focused on as much as they are now in the new forms and formats.
Here is an example; We did NOT put the "affiliates names" and "control persons" in ( ) parenthesis on the charts in sections 3A and 3B... in Disclosure documents.... Another "Faux Pas" had to do with the fact that somehow our OTCIQ corporate profile page had 12/30 as our financial "fiscal" year end. Therefore, the OTCIQ system folders contained dates that were 1 day different than the Callendar days... i.e. end of year was listed as 12/30/19...and not 12/31/19... Q1 was March 30,2019.... as it was supposed to be March 31/19.... So that small detail did not match with our filings and that kicked it back as well...We corrected all that. Also, my 1.2 billion share certificate that was retired, needed a footnote. Also, all the cancelled, or retired Convertible debt, and/or notes, had to be underlined better and we did that as well. And such small details as showing 0 (zero) balance on these notes....we did that as well...so actually, it made or financial picture a whole lot better, and easier to decipher as far as notes, like the huge one that I acquired, so that the company will not be hit with any toxic conversions.
So, as we say: "in closing" , while I do feel your frustration and sometimes a feeling of hopelessness, we are actually getting closer and closer. Now, I don't know, IF because everyone is working from home they seem to be "EXTRA" picky and/or is it because all the formats and template filings have been changed to a new format??? In any case, we're here, on the clock, and making things move along. And yes, we too contributed to the confusion because in some cases we had tickers with over 5 years worth of backed up files that we are now condensing to a 2 year deal, so yes, things are a bit slow...but we're getting there...simple as that!
Stay tuned, and I will post more updates.
I'm not trying to make a "joke" out of the situation , I'm just trying to impress on all of you that we are here to do what's right and correct to protect our investments and stay transparent to you,n o matter how long it takes to get it right!
SUTIMCo International, Inc. (SUTI) Stock Research Links
"Per Ardua Ad Astra" - "Through Adversity To The Stars"
A very apposite motto for those who trade successfully in the OTC market..
All posts are my opinion - trade at your own risk.
A very apposite motto for those who trade successfully in the OTC market..
All posts are my opinion - trade at your own risk.
