It actually makes a big difference in terms of pro
Post# of 6857
(Total Views: 403)
Posted On: 01/14/2022 11:43:46 AM
It actually makes a big difference in terms of process.
If UNVC was 'officially' deemed a 'shell' then the Form 144 Doc filed to sell shares would not be able to be activated - he would have to file a Form 10 to effectively re-register with the SEC first. Form 10 automatically become effective after 60 days and cannot be filed confidentially, though initial drafts can be.
Having seen the dilution chart I would guess UNVC was never officially a shell - there was some insider selling late last year, and considerably more shares have been released / sold since the New Year.
He has not filed the required Form 4 Beneficial Ownership Statement (normally required within two business days of the ownership change / sale of shares), so he will have to file a Form 5 Annual Statement to notify shareholders - which must be filed within 45 days after the company's close of their fiscal year, so we should find out by the end of February.
If UNVC was 'officially' deemed a 'shell' then the Form 144 Doc filed to sell shares would not be able to be activated - he would have to file a Form 10 to effectively re-register with the SEC first. Form 10 automatically become effective after 60 days and cannot be filed confidentially, though initial drafts can be.
Having seen the dilution chart I would guess UNVC was never officially a shell - there was some insider selling late last year, and considerably more shares have been released / sold since the New Year.
He has not filed the required Form 4 Beneficial Ownership Statement (normally required within two business days of the ownership change / sale of shares), so he will have to file a Form 5 Annual Statement to notify shareholders - which must be filed within 45 days after the company's close of their fiscal year, so we should find out by the end of February.
(3)
(0)Scroll down for more posts ▼