I believe so- it was CWRN's intent to up-list but
Post# of 8054
Posted On: 06/13/2013 2:23:11 PM
Re: mediscience #4435
I believe so- it was CWRN's intent to up-list but now we know why they couldnt -Geo was allegedly holding financials hostage-
poor Bob-all the times I pressed him to publish financials and due to the secrecy clause of the JVA- which we really didnt know about apart from the jva people being investors- he couldnt even tell me about the JVA or Geo withholding or commingling
So by all accounts I think its KMG's intent to up-list- the sec registration statement for the new stock will remove the dtc restrictions,
and the financials and prospectus prophesied by the PR should move us into otc "current classification" category while the LAST 2 years financials are audited in prep for up listing to the OTCQB as an SEC reporting company- OTCQB requires 2 years audited- so co's audit last 2 years to up-list
the paragraph u refer to from the May 26 2011 PR
"OTC K Status: CWRN is no longer a developing company and as such the non-reporting SEC status in not desirable to maintain a healthy share value for the shareholders; therefore, the Board of Directors have agreed to move on. The company will be merging into a new mining company that will be involved with several other iron ore mining projects and will be an SEC reporting company listed on the OTC:QB ; this process shall take some time and will require shareholder's voting approval. A Shareholders meeting will be held, all shareholders of record will be given a 45 day written notice of the time and place of the meeting. A news release will also be issued with the Shareholders notice ."
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poor Bob-all the times I pressed him to publish financials and due to the secrecy clause of the JVA- which we really didnt know about apart from the jva people being investors- he couldnt even tell me about the JVA or Geo withholding or commingling
So by all accounts I think its KMG's intent to up-list- the sec registration statement for the new stock will remove the dtc restrictions,
and the financials and prospectus prophesied by the PR should move us into otc "current classification" category while the LAST 2 years financials are audited in prep for up listing to the OTCQB as an SEC reporting company- OTCQB requires 2 years audited- so co's audit last 2 years to up-list
the paragraph u refer to from the May 26 2011 PR
"OTC K Status: CWRN is no longer a developing company and as such the non-reporting SEC status in not desirable to maintain a healthy share value for the shareholders; therefore, the Board of Directors have agreed to move on. The company will be merging into a new mining company that will be involved with several other iron ore mining projects and will be an SEC reporting company listed on the OTC:QB ; this process shall take some time and will require shareholder's voting approval. A Shareholders meeting will be held, all shareholders of record will be given a 45 day written notice of the time and place of the meeting. A news release will also be issued with the Shareholders notice ."
Source - Read More:
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