The article you posted regarding FINRA approval is quite informative. TWO things stood out to me. The first being in the "Second Round" which USFF is currently in.
One requirements is:
"documentation relating to any discussions or negotiations entered into by the company concerning potential merger or acquisition candidates".
As I have been saying all along, there is no way this could have gone over well. You all should pray that DaveSmith does not have a hand in addressing the response to FINRA because if he gives them the same line he gave you here about the 10 Majority shareholders not approving the acquisition, FINRA may never approve this.
The second thing I saw was in the "4th Round," DTC Fast Processing, which is down the road and not urgent, but nevertheless should be fulfilled if they want to play with the big boys.
Some requirements of this are:
"have few to no corporate actions (i.e. name changes, stock splits, etc.) and officer changes within the last 3 to 5 years;"
&
"ensure the company and officers are not involved in lawsuits or fraudulent activities that would raise Anti-Money Laundering (“AML”) or Office of Foreign Assets Control (“OFAC”) issues (i.e. pump and dump scheme);"
Who knows, by the time they get around to this step enough time may pass that by default they fulfill the no corporate actions for the allocated time period. As for the pending lawsuit from Global, time will tell if this inhibits the DTC Fast Processing approval or not.
Speaking of time, what's up with this 2-3 weeks time period you mention? The SEC approval happened nearly 70 days ago. 3 more weeks equates to 90 days. Did the company wait a month after SEC approval to file their form 211?
I understand APRAD has been in contact with the company and in his post 30071 he says the company says, "We have not slowed down a bit during this time." That's good to hear and it's also good to know that USFF doesn't need new money to keep working at such a feverish pace. Does it concern anyone that the installments of the $430,000 (that they paid $860,000 for) have been suspended until the stock begins trading again? No one mentioned it from the last 10K. "Accordingly, the Company issued secured convertible debentures for the sale of convertible notes in the principal amount of $40,000 and $60,000 as of March 26, 2014 and April 14, 2014, respectively. The remaining funding has been suspended until the Company receives an approval to list their common stock on a stock exchange, of which there can be no guarantee."
