https://www.law.cornell.edu/wex/fiduciary_duty

https://www.law.cornell.edu/wex/fiduciary_duty

look at the duty of disclosure- the Ceo is required to keep stockholders informed

I defended BRET/NNLX for many years -my usual role of standing against bashers/mutants who post not for truth but for profit/manipulation

defended NNLX because the vast majority of low penny otc stocks fail and the 1st priority is to survive rather than follow the usual route of toxic financing which kills many co's

but I also revealed at length the many costs of being a no info company on an otc exchange
those costs include-public companies and institutions (except hedge funds w prior notice to investors) are prohibited by fiduciary duty etc from investing in a no info company

private ppl who somehow discover a no info co most often dont have enough info to invest esp once NNLX stopped posting financials in 2014

NNLX has an amazing product in the n-assay =-see machs posts etc which is adaptible to many medical conditions and many industries
NNLX had or has an amazing patent attorney w a double doctorate who filed petri patents in many european nations and such was published in the entire european journal where any biotech could discover such

but what happens if a bio tech has an initial interest- research research and more research! so they can manipulate the junior partner in any deal- but immediately their research comes to a brick wall- they cant find NNLX on any major exchange- they might find NNLX on the otc exchange- but most ppl dont even know such exchange exists- except maybe for the otcqx which began ca 2009

so if they find NNLX on otcmarkets.com their 1st reaction is WHATS THIS???????- you gotta be kidding!!!!!! -and then discover NNLX is on the lowest tier of otc - the pinks!!!!!?????" -and then the lowest tier of pinks - and now not even on the pinks!!!!!

its just too much for them-in most cases fiduciary duty prevents them from getting involved - big pharma may have some runarounds i dont know - but the tendency is to disregard/laugh at such a no info co -at any rate it severely hurts NNLX negotiating position- so even if NNLX has an incredible adaptible n-assay plus patented petri plates and even if they had a good negotiator- their no info standing on an otc exchange severely undercuts all of that - does not not fit in w the rest of the picture!!!!!!!

SEC followed due process for 2 years or more in creating the new rule w advance notice to affected companies

since 2009 imo sec finra otc etc have not been on the companies or longs side

they think any company which isnt at least pink current is a scam

in 2011 penson financial restricted many stocks without notice /due process and longs w large holdings could not sell - imo mm's and brokers etc shorted those captive stocks to .0001 including a stock i was in- my stock value in that co was worth 230k but after they finished that hybrid public private capture without compensation - my stock in such was worth only a few hundred dollars, not 230k

i've seen these things before- over 2000 stocks in prior years- now over 3000 stocks are on the burner w the new 15c211 rule

the stockmarket is a world unto itself where many of the rules of law designed to protect the innocent do not apply
so as before any of these organizations can do something without notice or due process to eliminate NNLX and the other 3000 plus companies which have not complied w the new rule

the writing has been on the wall since 2009-something NNLX has publicly ignored except for its june 2021 update where NNLX said they would voluntarily file w the SEC
well there is no such thing and it would not comply w the new rule

i expected nnlx to start the voluntary filing w sec process so they could be informed that such would not comply w the new rule

they are not under indictment or any lawsuit-all they have to do is fill out the otciq form i've posted and provide the required financials /comply w the new rule

but months later i discovered they hadnt filed anything w the sec pursuant to this new rule

the costs of not complying at this point are far greater to NNLX and stockholders than the cost of complying

so yes we assume they are almost broke as one poster reported from a conversation w bret
but Brets lawyer brothers and faros could loan or buy enough for NNLX to comply
and yet apparently have not - so why?????

I have to assume they are aware of the posts on this board - the only friendly board- ceos of other pink co's have been

and yet their public existence is knowingly at the mercy of organizations following the belief that every co who is not pink current or doesnt comply w the new rule is a scam and deserves to be demolished-part of a larger political belief since 2009 of 'all business is evil and must therefore be destroyed' -saw the public documentary myself on a sympathetic liberal station

if they complied and thus were pink current, companies could negotiate and invest- if some attention had been paid to the machinations of the stock market and otc the pps could be where companies could attempt to buy out or buy into NNLX and a tender offer and other possibilities -

but not paying attention to this process (company info on otcmarkets.com not updated since 2012???, no financials posted since 2014 etc)and noncompliance w the new rule really forecloses their options -a possibly massive price to pay for not attending to these things FOR SO LONG