As a reminder of what NNLX needs to do is fill out the OTC order form I posted in post 8376 plus to my memory provide 2 years of financials -like auditors, for a 1st time current info listing OTC SEC etc wants to make sure income etc has been applied to the appropriate quarters etc- so many things have been changing in this latest political game
I'm pretty sure otcmarkets.com and perhaps others sent all this information to affected companies a long time ago
NNLX's June 2021 update implied NNLX would do an end run around otcmarkets.com (which as per its obligations to the sec would report info supplied by NNLX to the SEC]
by voluntarily providing docs to the SEC- but otc requires fees for its filings, aka as otc 'news and disclosure service' and unless investors obsessively used Edgars exclusively most investors would not find NNLX's docs on otcmarkets.com -by far the largest clearing house for info re otc stocks
Aside from voluntary -as in filing taxes is 'voluntary' until they seize your property or send the swat team, it gave me a tremendous headache figuring out how such an attempted end run around would work- SEC allows OTC to set its own rules most of the time re pricing- though there has been some bickering between the sec and otc re otc or any interdealer quotation system the ability to quote 'limited info' companies as per otc's fee policies if they didnt upgrade to current info
Brets superlawyer brother was brought on board and promoted to some such title as chair of strategic analysis -failing to provide docs to otc or sec cannot be a strategy to benefit anybody imo unless there is some secret deal which would benefit only the Barnhizers-and that would be a problem because the updates re Brets superlawer brother positioned him as representing NNLX- not just officers or Barnhizers
One legitimate problem is the TIME and MONEY it would take NNLX to provide 2 years of financials-if still required in the changing melee as I suspect they are- and the other info requested by otc or sec
I'm in another company that HAS BEEN AND IS SEC reporting- due to a lack of finances they fell behind on their SEC reporting obligations- so they were subject to a cease trade order- the co had to get a partial revocation of the cease trade order just to raise a 100k to bring 10Q's and 10K up to date for a period eventually exceeding one year but not more than 18 months
accountants and SEC reporting are expensive, which is why NNLX has not been ready for prime time reporting even on an OTC exchange - but crawling under the radar as a 'no info' otc company increasingly hurt NNLX in a lot of ways which i've increasingly reported as a warning for years
as a 'no info' otc co that puts NNLX in a very weak vulnerable negotiating position
the vast majority of the public and business is not even aware the otc market exists
big pharma is not very original -big pharma partly succeeds bc they buy the little companies with original ideas and products- so big co's trawl for such little companies
so big co's may have seen NNLX's very few PR's since covid began- but if they did any follow up they would discover NNLX is bottom of the barrel on an otc exchange -stretching their credulity -whats this!!!!!!!!
and big pharma would either laugh and move on or throw Bret a ridiculous take this or die offer which of course Bret would have to reject
finances must be really tight - i assume Brets superlawyer brother is rich but ???
without legitimacy in the form of an authentic trading co - as a now grey market company that is very illiquid and at a price close to one tick, buyout companies are not likely to offer anything meaningful to Bret or shareholders- one of the reasons - a not surprising fallout - of being 'no info' for such a long time - but most CEO's dont understand this - and if potential buyout companies talked to stockbrokers they would run into an incredible wall of ignorance and confusion
I'm pretty sure otcmarkets.com and perhaps others sent all this information to affected companies a long time ago
NNLX's June 2021 update implied NNLX would do an end run around otcmarkets.com (which as per its obligations to the sec would report info supplied by NNLX to the SEC]
by voluntarily providing docs to the SEC- but otc requires fees for its filings, aka as otc 'news and disclosure service' and unless investors obsessively used Edgars exclusively most investors would not find NNLX's docs on otcmarkets.com -by far the largest clearing house for info re otc stocks
Aside from voluntary -as in filing taxes is 'voluntary' until they seize your property or send the swat team, it gave me a tremendous headache figuring out how such an attempted end run around would work- SEC allows OTC to set its own rules most of the time re pricing- though there has been some bickering between the sec and otc re otc or any interdealer quotation system the ability to quote 'limited info' companies as per otc's fee policies if they didnt upgrade to current info
Brets superlawyer brother was brought on board and promoted to some such title as chair of strategic analysis -failing to provide docs to otc or sec cannot be a strategy to benefit anybody imo unless there is some secret deal which would benefit only the Barnhizers-and that would be a problem because the updates re Brets superlawer brother positioned him as representing NNLX- not just officers or Barnhizers
One legitimate problem is the TIME and MONEY it would take NNLX to provide 2 years of financials-if still required in the changing melee as I suspect they are- and the other info requested by otc or sec
I'm in another company that HAS BEEN AND IS SEC reporting- due to a lack of finances they fell behind on their SEC reporting obligations- so they were subject to a cease trade order- the co had to get a partial revocation of the cease trade order just to raise a 100k to bring 10Q's and 10K up to date for a period eventually exceeding one year but not more than 18 months
accountants and SEC reporting are expensive, which is why NNLX has not been ready for prime time reporting even on an OTC exchange - but crawling under the radar as a 'no info' otc company increasingly hurt NNLX in a lot of ways which i've increasingly reported as a warning for years
as a 'no info' otc co that puts NNLX in a very weak vulnerable negotiating position
the vast majority of the public and business is not even aware the otc market exists
big pharma is not very original -big pharma partly succeeds bc they buy the little companies with original ideas and products- so big co's trawl for such little companies
so big co's may have seen NNLX's very few PR's since covid began- but if they did any follow up they would discover NNLX is bottom of the barrel on an otc exchange -stretching their credulity -whats this!!!!!!!!
and big pharma would either laugh and move on or throw Bret a ridiculous take this or die offer which of course Bret would have to reject
finances must be really tight - i assume Brets superlawyer brother is rich but ???
without legitimacy in the form of an authentic trading co - as a now grey market company that is very illiquid and at a price close to one tick, buyout companies are not likely to offer anything meaningful to Bret or shareholders- one of the reasons - a not surprising fallout - of being 'no info' for such a long time - but most CEO's dont understand this - and if potential buyout companies talked to stockbrokers they would run into an incredible wall of ignorance and confusion
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