I wouldn't expect any time soon, that's my opinion. The form 10 takes around 60 days. During that time the SEC can review and ask questions. The MM would most likely wait until that process is over before contacting FINRA and attempting the 211 imo. Let me rephrase, if I was an MM and I was handling the 211, I would wait until Form 10 process was done before I would contact FINRA, I would suspect that would increase the chances for approval. So I am not expecting to hear updates or anything until after the 60 days. I am excited that things are moving in the right direction but expect the next step to take more time than others, I'm happy for what has happened, because it allows for another step in the process to be completed and knowing the steps and moving forward shows progress to me and progress means, there is hope, which is all I care about considering what has happened. I try to keep things in perspective.
Let's just say for arguments sake, during the 1st 211 filing, finra did instruct MIKP down the path of a Form 10, wouldn't it make sense for the MM to wait for that process to be complete, let the SEC reveiw, comment, and wait the 60 days, then once that is complete, go to FINRA and say, the Form 10 process is completed and let's now move forward with the 211. Don't get me wrong, you certainly could try before then, but I just don't think that makes much sense to me. I'm not too concerned with timelines at this point in time.
I think unrealistic expectations on how quickly a process can take will lead to frustration and unnecessary worrying about a process that is in the works imo. Basically to me, the home stretch is in site now, just got to give it time to play out, but hope was restored to me when the company did file the form 10. The filing was a concrete sign that something was being done, and the only reason to go that route was because the company believed it was a way to get the 211 approved.
No one can argue that the Form 10 was done for any other reason. With that said, the Form 10 is a clear sign of progress.
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