$KRTL KRTL Holding Group Inc. Advances in 15c2-11 Process with Court-Approved Shareholder Verification Initiative
https://www.globenewswire.com/news-release/20...ative.html
KRTL Holding Group Inc. Advances in 15c2-11 Process with Court-Approved Shareholder Verification Initiative
KRTL Holding Group Inc. (OTC: KRTL) announces a significant advancement in its journey toward full compliance with SEC Rule 15c2-11.
Following a comprehensive review of legacy shareholder records predating KRTL’s acquisition and restructuring, the company has successfully obtained a court order from the Third Judicial District Court, Salt Lake County, Utah. This order authorizes KRTL to initiate a structured, court-supervised verification and remediation process of legacy shareholders.
Court-Approved Shareholder Verification Process
Under the terms of the court order dated May 27, 2025, KRTL has commenced a rigorous program to:
Send certified, court-approved notices to shareholders listed in historical records, requesting verifiable proof of ownership.
Provide a 60-day window for shareholders to submit acceptable documentation, including government-issued identification and proof of stock ownership.
Petition for the cancellation of shares tied to non-responsive or unverifiable shareholders through judicial declaration.
Allow for discretionary reissuance in cases where late verification is provided, maintaining corporate governance standards.
This proactive step is a major milestone in KRTL’s efforts to cleanse its shareholder records of fictitious or unverified entries—a critical component to comply with SEC Rule 15c2-11 which governs the public quoting of OTC securities, and to facilitate Rule 144 resale eligibility, which requires a clear chain of ownership.
What This Means for Our Shareholders and the Company
For current and prospective shareholders, this initiative ensures a more transparent and trustworthy shareholder base. By removing legacy uncertainties, KRTL strengthens its corporate governance and enhances the integrity of its shareholder records, providing a strong foundation for future growth and regulatory standing.
For KRTL, this action accelerates the company’s compliance efforts with FINRA and SEC requirements, moving it significantly closer to achieving full Rule 15c2-11 compliance, a key milestone in reestablishing public market quotation and increasing shareholder value.
Commitment to Transparency and Compliance
“This is a pivotal moment for KRTL Holding Group,” said Cesar Herrera, CEO of KRTL Holding Group Inc. “We are taking decisive action to ensure the accuracy of our shareholder records and to align our operations with the highest standards of regulatory compliance. By resolving these legacy issues, we aim to restore confidence in our shareholder registry and pave the way toward improved trading access and long-term value creation.”
https://www.globenewswire.com/news-release/20...ative.html
KRTL Holding Group Inc. Advances in 15c2-11 Process with Court-Approved Shareholder Verification Initiative
KRTL Holding Group Inc. (OTC: KRTL) announces a significant advancement in its journey toward full compliance with SEC Rule 15c2-11.
Following a comprehensive review of legacy shareholder records predating KRTL’s acquisition and restructuring, the company has successfully obtained a court order from the Third Judicial District Court, Salt Lake County, Utah. This order authorizes KRTL to initiate a structured, court-supervised verification and remediation process of legacy shareholders.
Court-Approved Shareholder Verification Process
Under the terms of the court order dated May 27, 2025, KRTL has commenced a rigorous program to:
Send certified, court-approved notices to shareholders listed in historical records, requesting verifiable proof of ownership.
Provide a 60-day window for shareholders to submit acceptable documentation, including government-issued identification and proof of stock ownership.
Petition for the cancellation of shares tied to non-responsive or unverifiable shareholders through judicial declaration.
Allow for discretionary reissuance in cases where late verification is provided, maintaining corporate governance standards.
This proactive step is a major milestone in KRTL’s efforts to cleanse its shareholder records of fictitious or unverified entries—a critical component to comply with SEC Rule 15c2-11 which governs the public quoting of OTC securities, and to facilitate Rule 144 resale eligibility, which requires a clear chain of ownership.
What This Means for Our Shareholders and the Company
For current and prospective shareholders, this initiative ensures a more transparent and trustworthy shareholder base. By removing legacy uncertainties, KRTL strengthens its corporate governance and enhances the integrity of its shareholder records, providing a strong foundation for future growth and regulatory standing.
For KRTL, this action accelerates the company’s compliance efforts with FINRA and SEC requirements, moving it significantly closer to achieving full Rule 15c2-11 compliance, a key milestone in reestablishing public market quotation and increasing shareholder value.
Commitment to Transparency and Compliance
“This is a pivotal moment for KRTL Holding Group,” said Cesar Herrera, CEO of KRTL Holding Group Inc. “We are taking decisive action to ensure the accuracy of our shareholder records and to align our operations with the highest standards of regulatory compliance. By resolving these legacy issues, we aim to restore confidence in our shareholder registry and pave the way toward improved trading access and long-term value creation.”
