ProText Mobility Inc (TXTM)

[buysellrepeat]

It certainly restricts trading. No it’s not illegal but finding a broker that lets you buy CE stocks in the US is another story.

[parabolic2020]

That's funny

[Moneytrain2020]

Would you sell right now?

[TS1971]

You are correct. Anyone saying otherwise is ill informed.

[TS1971]

It doesn’t prevent trading for retail but for hedge funds it’s regulated.

[parabolic2020]

This will be my last post addressing this. I've explained my position in as much detail as I can. I've stated that the AUDIT verified our assets, as well as our shareholder count. I don't know how else to explain my position that this is MANDATORY that we become an SEC filer which also mandates a new form 10 due to our lapse and self- termination of the registration under prior ownership. So I will AGAIN point you to your own DD for verification of this.
I've said repeatedly that the ASSETS and the AUDIT let to this threshold as well as the penny stock exempt status which look at the SAME valuation data. That is not an opinion that is fact.

So, I'll use your own post to prove my point. From the SEC website:
https://www.sec.gov/info/smallbus/secg/jobs-act-section-12g-small-business-compliance-guide

" Increased Statutory Thresholds for Registration and Termination of Registration

The JOBS Act and the FAST Act raised the thresholds for registration and termination of registration for a class of equity securities under Exchange Act Section 12(g).  As a result of the statutory changes, an issuer that is not a bank, bank holding company or savings and loan holding company is required to register a class of equity securities under the Exchange Act if:

it has more than $10 million of total assets; and

the securities are “held of record” by either 2,000 persons, or 500 persons who are not accredited investors..."

It says "IS REQUIRED TO".. as in MANDATORY.. it does NOT say optional. or a requirement for registration. it is MANDATORY a company does so once these thresholds are met. This is not in dispute. The Penney stock exempt status was also triggered by the Audit. If you doubt that ,then explain why only after the audit was applied.

Again the "77" shareholders on the website is a reflection of the TA books tallying cert holders and other entities holding certificates aka brokers and specifically the DTCC(shares held at DTCC) which counts as ONE of the 77. This again, is not the same as individual shareholders (persons aka common shareholders) which imo exceeds the 2000 threshold. Have a good day.

[Maxinvestor89]

No offense, but It's not a matter of opinion

Please show me where there is a different SEC reporting requirement for Pink Penny Stock Exempt issuers. (As in show me the relevant SEC rule on the Federal Register or the SEC related websites)

From my experience, and from what I can see, there are no special reporting requirements towards the SEC, for stocks like TXTM.

It only removes some disclosures requirements by Broker-dealers when they trade Penny stocks on behalf of their customers.

"Because of the speculative nature of penny stocks, Congress prohibited broker-dealers from effecting transactions in penny stocks unless they comply with the requirements of Section 15(h) of the Securities Exchange Act of 1934 ("Exchange Act") and the rules thereunder."

These SEC rules provide, among other things, that a broker-dealer must (1) approve the customer for the specific penny stock transaction and receive from the customer a written agreement to the transaction; (2) furnish the customer a disclosure document describing the risks of investing in penny stocks; (3) disclose to the customer the current market quotation, if any, for the penny stock; and (4) disclose to the customer the amount of compensation the firm and its broker will receive for the trade. In addition, after executing the sale, a broker-dealer must send to its customer monthly account statements showing the market value of each penny stock held in the customer's account.

Notwithstanding that, I hope the CE gets removed sooner rather than later🤞

[Johnnyrocker33]

Showed up Friday. Never been here before.

[planetMitch]

So, if the CE prevents trading (buying actually, we can sell all we want), how is it that 240million+ shares have 'traded' since last Friday?

[Art67]

and blas showed out of blue?

[Art67]

why would mm's bring this down?Have you asked yourself?

[parabolic2020]

Also for clarification of your shareholders threshold you are misinterpreting the 77 "shareholders" on the OTCM markets website, those are NOT individual persons as described in the statute.

IMO we have far more then the minimum 2000 "persons" as described in the regulation you posted :
it has more than $10 million of total assets; and

the securities are “held of record” by either 2,000 persons, or 500 persons who are not accredited investors.

[$Parabolic2030?$]

NOW at .001

THAT’S THE TRUTH

[parabolic2020]

You post again does not address the reporting requirements of a Penney stock exempt company. This is my stance, not the relation or affect on broker dealers. You are arguing this reporting requirement doesn't not apply to TXTM, or the only 3 other companies on the pink tier with this status? Or that it's not truly applicable? I'm not sure how you can have one without the other. But , this conversation will soon be meaningless anyway and I've voice my opinion on this enough foe my opinions to be understood, agreed or not.

[parabolic2020]

We can disagree that's fine by me, but it is coming and the subsequent events that the company has put forth will aako be met. See you when it happens. The CE has nothing to do with this, but will put OTCM at odds with SEC when form 10 is accepted and question period is closed. The SEC will perform its own investigation into the company and once this is done the CE will likely be dropped as it has with other companies.
But that's a discussion for when that happens.

[TS1971]

Sadly it’s the unfortunate truth…

[TS1971]

Yes sir there it is exactly. And exactly what I posted.

Hedge funds and other brokerages can trader penny stock exempt company’s but regardless TXTM can not be trader even though they are exempt for one simple reason.

That reason being CE.

But Para is clueless on this front as well.

[$Parabolic2030?$]

All made up sh!t from thin air .

We all know this for for almost 2 years now.

Don’t waste your breath

[TS1971]

The amount of dumb spin dancing you do to avoid any pertinent question is amazingly sad.

TXTM would not need a second audit if the first was PCAOB plain and simple dipzhit what are you not getting?

You are completely clueless about reasoning for penny stock exemptions and its benefits.

Live in your delusional fantasy world with your 10 sycophant followers for all I care.

[Maxinvestor89]

I have seen TXTM Penny Stock Exempt Designation on OTCM Screener

The designation is exempting Broker-dealers from certain disclosure requirements towards their customers in relation to Penny Stock trading

1. Summary of Collection of Information

Rule 15g–2 requires broker-dealers to provide their customers with a penny stock disclosure document, as set forth in Schedule 15G under the Exchange Act, prior to each customer's first non-exempt transaction in a penny stock. The rule also requires a broker-dealer to obtain from its customer, in tangible form, a signed acknowledgement that he or she has received the required penny stock disclosure document. The broker-dealer must maintain a copy of the customer's acknowledgement for at least three years following the date on which the penny stock disclosure document was provided to the customer. During the first two years of this period, the document must be maintained in an easily accessible place.[113]

https://www.federalregister.gov/documents/2005/07/13/05-13737/amendments-to-the-penny-stock-rules



I respectfully disagree with you on the Penny Stock Exempt triggering any TXTM reporting obligations towards the SEC

We COULD see a Form 10 with PCAOB audit in the coming months.

IT ISN'T required

TXTM doesn't meet the MANDATORY SEC reporting, because of the Shareholders of Record criteria under Section 12(g) of the Securities Exchange Act of 1934

https://www.sec.gov/info/smallbus/secg/jobs-act-section-12g-small-business-compliance-guide

[Art67]

instead of arguing,whos right or wrong,let's take a look at 30 day since AL,and still nothing.That means otc is not buying what they sell,and asking or wanting more info.Shouldn't take this long,i'll give another week,maybe two,if it doesn't come off then,that will mean 3yr ce,which i originaly said will happen,i really hope i'm wrong,but...

[Murphydog25]

0.0001 coming soon all aboard the 🚂

[parabolic2020]

The Auditor was not PCAOB .. I've explained this 3 times now. Read to comprehend not to respond. SEC only accepts PCAOB audits. I'll get of this merry go round with you now.
You keep asking questions about taking advantage of the Penney exempt status. I'm speaking to the filing REQUIREMENTS of the status.
A penny stock exempt company must file a Form 10-Q for quarterly reports, a Form 10-K for annual reports, and a Form 8-K for significant events or changes. All can not be done without an active registration. A form 10 is required to report register with SEC because of the time elaped,change of ownership and other factors since we were last a SEC reporter.
So are you denying we have that status? Are you denying the requirements once that status has been applied? You can argue with yourself all day long. The status HAS BEEN ASSIGNED. Now the company must comply.
Seems simple to me, but.. well..

[dcspka]

Financial scheme masquerading as a pure book asset in name only. Name an actual business with sales/earnings which falls under the TXTM umbrella.

[TS1971]

🤦‍♂️Nothing but a calamity of errors…

[TS1971]

Easy one Why the need for 2 audits one after the other?

[parabolic2020]

Rsammda.. wholly owned subsidiary

Seeds with current carry over asset value of $15 million, with an actual fair market value far exceeding 200 million.. next.

[dcspka]

Name the subsidiaries and assets that TXTM controls as a "Holding Company".

Right now. We will wait.

[parabolic2020]

I never stated the assets was the sole reason. I stated it was among other criteria that triggered the penny stock exemption. The bage does not show on the profofile itself the designation is set forth and can be seen by queries on the OTCM database. The designation is there in plain sight.
This designation however is required also to be reported to the SEC, which triggers the other standards of higher reporting standards which the path I've laid out before. We will see a form 10, we can discuss it after it happens.

[TS1971]

Correct and the reason it’s important is because it allows hedge funds and other brokers to purchase TXTM.

Something Para fails to answer because he doesn’t know zhit.

Now let’s see if he can answer why TXTM can not take advantage of this.

He won’t because he doesn’t know.

[Maxinvestor89]

Sorry for interrupting you guys' argument

I just want to say that a Penny Stock exemption, itself, doesn't trigger anything with the SEC (The "Penny Stock Exempt" badge doesn't show on OTCM, because, as they told me, they don't show this kind of badge for non OTCQB or QX stocks)

Also, showing Assets over 10m$ isn't the sole criteria to "force" SEC reporting, a company must also have 500 shareholders of record or 2000 if less than 500 non accredited investors

TXTM, as per their last filling, on page 3, has 77 shareholders of record (holding securities under their own name, not through an online brokerage like the overwhelming majority of us)

As per SEC, mandatory SEC reporting starts when:

It has more than $10 million in total assets AND a class of equity securities, like common stock, that is held of record by either (1) 2,000 or more persons or (2) 500 or more persons who are not accredited investors OR it lists the securities on a U.S. exchange"

https://www.sec.gov/education/smallbusiness/goingpublic/exchangeactreporting

[TS1971]

We are the morons!?! lol that’s funny.
Should we go through all of your failed asinine predictions?

[TS1971]

Well said. I remember when he was floating the idea they would just buy another company and uplist untill he must have realized that would screw all current TXTM share holders.

[parabolic2020]

Unsubstantiated? Lmao it's in the filings.
So I guess you can get on the short bus with the rest of these morons. As I recall you too said the company could NEVER finish an audit😂😂.
The company is IN FACT a holding company with subsidiaries and assets. Check your definitions Genius, then proceed to explain to me why TXTM and declarations in the filings does not qualify.
The distribution of Cbd products is ALSO clearly defined as past of the business model in the filings. Yall gotta do better, this is far too easy for me.

[TS1971]

🤦‍♂️ thanks for your long winded rant that answers NOTHING I asked just more side stepping.

It’s simple, you do not need a form10 to accompany the first audit if it was PCAOB to begin with.

Penny stock exemptions does have advantages/benefits you clearly don’t know of…what a surprise.

However TXTM can not utilize or take advantage of these for 1 reason that you have no clue of why clearly.

As I said a fcuken calamity of errors with this company from start to present.

Nothing on the books for over a year is why no one in there right mind would even consider buying TXTM.

After a year and a half Management promises and social media hints haven’t and won’t help those invested in TXTM.

Put up or shut up. The end.

[dcspka]

".......Uplist to a higher exchange"? Man, talk about giving false hope. TXTM can't even cut it as a Pinky Stock. There is no way they can (or will) satisfy the NASDAQ requirements. No working business model, no sales, no earnings. The notion that TXTM will become a holding company with CBD related business subsidiaries is an unsubstantiated joke.

Show me RSAMMD's client list, sales & earning figures. There is a reason they are kept secret. Figure it out.

[parabolic2020]

You cleary don't understand these things, and it is frankly a waste of my time to explain these things.But for those who require clarification, here goes.

Penny stock exempt companies are required to file certain reports with the SEC, particularly if they have registered securities or if they meet specific criteria outlined by the SEC.
in order to submit documents to the SEC, you must be SEC reporting

The Form 10 is being filed because the registration with the SEC was withdrawn by the company 7 years ago:
https://www.otcmarkets.com/filing/html?id=11804450&guid=O0Q-kFgG6XoFJth

The Form 10 required to be SEC reporting, what is ALSO a requirement is 2 years of audits done by a PCAOB Auditing firm. The SEC ONLY accepts audits from a PCAOB auditor for publicly trading companies, which is why they will be submitted as well.

These were set in motion as a requirement and a result of the filing just completed due to the amount of assets now independently confirmed among other factors. You dispute that, pick up the phone and ask the OTCM why they made that designation.

So, you see your argument isn't with me, it's with your lack of understanding.

All of this was set in motion by the Audit that was just completed. Why this process is so hard for you to comprehend is not my concern and I'm not about to make it my responsibility.

These are the facts and reporting standards set forth by the SEC. You have a gripe, go to them. In the meantime people who understand what's going on are moving forward. The company WILL become a SEC reporter in short order satisfying the requirements also to uplist to higher exchanges.

[TS1971]

Wrong again you do not need a form 10 if your audit is PCAOB.
The only reason a form 10 would be needed is if an audit was not PCAOB
Jesus how the hell do you have a private discord and you don’t know the basics!?!

So now you’re saying penny stock exemption is not an advantage??? Or are you just saying that because you can’t answer my original question.

Let me try to ask you simple questions instead.

1) why would the company need a second audit that is PCAOB after just getting one, or a second one at all?

2) if penny stock exemption has no advantages why does it exist?
Why file for it?

3) after over a year and a half with CE and nothing on the books for over a year now why would anyone buy TXTM?

Do some research before answering for Christ sake.

[parabolic2020]

There you go again, showing your ignorance. I NEVER said a form 10 was needed to have a PCAOB audit. I said A PCAOB audit will accompany filing of the form 10. The form is now MANDATORY because of the Audited assets valuation and other reasons ill eave your genius to figure out, but it will definitely happen soon. The Penney stock exemption is not something to "take advantage of" 😂 it triggers additonal reporting requirements to the SEC.This is not rocket science and must be done. The rest of your gibberish is not worth my time as the more I write, the less you comprehend and go off on wild tangents. So I'll leave you to your feelings.

[Baggindagreen]

That’s what he said, you know while you’re busy saying things that nobody cares about. Maybe focus on what matters and you could be the one saying that again 🤷‍♂️

[TS1971]

Suck harder

[RockyW]

Touché Para! Thanks.

[TS1971]

Are you high!?! I refute everything you say because everything you say is pure bullzhit.
Wait so they got an almost worthless audit just proving they are a legitimate company is like say I have a 20,000.00 paint job on my car then pulling up to the car show with a rattle can garage mess thinking ill get first place.
And now you’re saying they need another audit!!! Like I said a fcuken calamity of non stop errors with these guys.
Now let me set you straight here.
1) you don’t need a form 10 for a PCAOB audit dipzhit so if that’s what they are attempting to get why not do just that in the first place???

2) penny stock exemption means almost next to nothing as far as TXTM is concerned or didn’t you know that? The benefit of pennystock exemption can not be taken advantage of for one simple reason. Let’s see if you can figure out why dipzhit.
I’ll give you the answer after you fail to answer it.
Time to take your silly azz to school.
Not sure how you got confused, maybe because of all the BS talk you surround yourself with but there is nothing on the books consecutively or continuously. Thought you would have been able to figure that out for yourself but apparently not.
And please with your silly predictions, you once told me you were a failed trader so there’s that. Hint hint.

[parabolic2020]

You're focused on a trailing indicator suppressed by the CE . I'm focused on what the filing and management have proven with the Audit and other communications. You see, unlike the ignorance I see here, I understand what a carry over asset is, I understand the TRUE value of the seeds and the technology. Idiots can keep running thier mouths all they want. I know the value of the company and the company is gonna prove all the incompetent and impatient "experts " wrong very soon..why? Because it's mandated they do so. But keep running your mouth about the Share price like the rest of them. You will be running to another board soon enough.

[dcspka]

The current noticeable decline of the PPS is definitely not the type of win I would want to highlight in my resume.

[parabolic2020]

Oh I see you still here. You seem triggered with all the cursing. Not one thing you said refutes anything I said. told you and audit was going to be done, and it was. I'm telling you the follow-up PCAOB audits will be done ,as well as the form 10 filed. You clearly cannot read filings as there is far more than nothing on the books and both the SEC and the otc proves you wrong since we are indeed "Penney stock exempt". So they wrong too? Because you say so? I'll just keep piling up the wins and you sit there posting ignorance. You clearly have no idea what you're talking about, you think because everything I've said is false because they haven't come to fruition yet? sad for you ALL of them are coming.

[TS1971]

You spit nothing but horse zhit as usual. More side stepping more dumb excuses so basically more of the same from you.

It’s over a year and a half later, article does not take that long to be investigated PERIOD. Even an SEC investigation on average takes 6-12 months on average for companies that have been around much longer. This is not a company that has been in existence for years needing a long time to go through so stop with the BS just like your many many silly predictions that have all fallen through and you know it.

What you said about the auditor is just asinine, Weather or not the auditor knows what is required of or for a PCAOB means jack zhit if it’s not recognized as such.

Again why would anyone new to TXTM purchase shares with nothing on the books?

[NorthTrail]

Thanks for the insight 👍🙏

[parabolic2020]

Oh. I see the whole crew is here trying to explain what the company needs. This is hilarious to me.
Where shall I start? Well, I'll address the audit that was done. In case you didn't realize it, set off a chain of events which made the Form 10 filing mandatory, which the company obviously knew would happen when they used the auditor they did.
The OTCM would be required to report this filing to the SEC as the company with audited assets now is above the threshold for being Penney Stock exempt".
Now what should also be noted is the Auditor that was used is a former PARTNER at Price Waterhouse Cooper and is obviously fully aware of the PCAOB standards and would prepare the Audit and preserve the data necessary to expedite the process of a POCOB Auditor to complete expeditiously.
The Audit also did another import thing. It proved no dilution and no fraud on the company's part reguarding the initial accusation of a pump n dump as indicated in the filings.
There have been no conversion or dilution period.
Now on to the fear mongering going on with current selling. What are are likely seeing is a forced exit of a shareholder, possibly tied to the root cause of the implementation of the CE. The Article, or did we get sidetracked from what the filings said with all the noise of the Order causing the CE?
The ARTICLE is and has always been the root cause amd is likely being addressed by the proper authorities as the company has definitively proved no wrongdoing on their part.
There WILL be a form 10 filing accompanied by the required audits. You can bet on that.

[TS1971]

🙏