We should get an update from the court and/or SSM
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Posted On: 06/08/2021 10:30:49 AM
We should get an update from the court and/or SSM either this evening or tomorrow morning regarding the hearing at 12:30pm EDT this afternoon in Las Vegas.
Just to reiterate the past as prologue and the present with an eye toward the future:
In 2015:
1. Finra could have blocked CRGP's special dividend but chose not to.
2. DTCC could have reversed the dividend during a 24 hour window but chose not to.
3. The SEC could have suspended CRGP but chose not to (CRGP is the only U3 stock I am aware of that has never been suspended by the SEC).
4. A court in Nebraska could have assigned a receivership to take over the controls of CRGP when management bailed but chose not to.
And 2020-2021:
1. CRGP moved to pink from grey in April 2020
2. SSM filed for custodianship of CRGP in December 2020
3. SSM was granted custody of CRGP in February 2021
4. CRGP CEO Clement Lockwood filed to reverse the custodianship of CRGP
5. A key point, six weeks of discovery unfolded, and we can assume that the discovered information was entered into the court record
6. Sagar Raich, recognized as the number one business lawyer in Las Vegas, negotiates a settlement between former CRGP management and current custodian SSM. Raich is also the registered agent of CRGP.
So what does the future hold? Raich would not agree to take on this case and become the RA if he didn't believe in the potential behind the stock. He wouldn't put his growing reputation on the line. Raich also worked for Merrill Lynch for over two years as an investment associate so he understands not only the legal but financial complexities behind the past and current details surrounding CRGP.
I am quite optimistic about the near and long term prospects for CRGP.
meik
Just to reiterate the past as prologue and the present with an eye toward the future:
In 2015:
1. Finra could have blocked CRGP's special dividend but chose not to.
2. DTCC could have reversed the dividend during a 24 hour window but chose not to.
3. The SEC could have suspended CRGP but chose not to (CRGP is the only U3 stock I am aware of that has never been suspended by the SEC).
4. A court in Nebraska could have assigned a receivership to take over the controls of CRGP when management bailed but chose not to.
And 2020-2021:
1. CRGP moved to pink from grey in April 2020
2. SSM filed for custodianship of CRGP in December 2020
3. SSM was granted custody of CRGP in February 2021
4. CRGP CEO Clement Lockwood filed to reverse the custodianship of CRGP
5. A key point, six weeks of discovery unfolded, and we can assume that the discovered information was entered into the court record
6. Sagar Raich, recognized as the number one business lawyer in Las Vegas, negotiates a settlement between former CRGP management and current custodian SSM. Raich is also the registered agent of CRGP.
So what does the future hold? Raich would not agree to take on this case and become the RA if he didn't believe in the potential behind the stock. He wouldn't put his growing reputation on the line. Raich also worked for Merrill Lynch for over two years as an investment associate so he understands not only the legal but financial complexities behind the past and current details surrounding CRGP.
I am quite optimistic about the near and long term prospects for CRGP.
meik
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