Regional Brands Inc. (RGBD)

[illegal_alias]

Reading the tea leaves

Well, it has been an interesting few weeks for FNSI. CEO and majority stock holder Steven N. Bronson stepped down as President/CEO of QBAK on May 15, 2015 although he remains chairman. Presumably he has more time on his hands now for other ventures.

On June 9, FNSI traded 250,000 shares at $0.05 after weeks of little or no trading. Don’t know who bought.

On June 23, according to SEC filing Bronson bought 240,000 shares on the open market at .044 and .045. He now owns 5,800,210 of the o/s (9,261,017 shares) or 62.6% of the o/s.

On June 24, Alan Rosenberg stepped down as a director of the company. He did not own any shares. That leaves Leonard Hagan (Hagan & Burns, CPAs, in NYC) as the only other director besides Bronson. Leonard is also a director of BKFG and RDGA, both of which Bronson is also President/CEO. Interestingly, he is not a shareholder of FNSI.

On July 1, FNSI switched auditors from Excelsis Accounting Group (Reno, NV) to Anton & Chia LLP (Newport Beach, CA). Both are PCAOB registered and as a shell Excelsis could do an audit in their sleep of the (non)existing FNSI business line.

Makes sense since Newport Beach is a lot closer to Westlake Village, CA (new FNSI HQ as of March) than Reno, but only if you were switching your line of business. Interestingly, Anton & Chia have a branch office in Westlake Village (as well as Mexico, Canada and Hong Kong. Excelsis (http://excelsisaccounting.com/) industry expertise is in manufacturing, mining, oil/gas/energy, and technology with accounting expertise in tax, litigation, audit and management consulting. Anton & Chia has expertise in hedge funds, acquisition advisory, IPO’s and Reverse Mergers, among other things.

That last item caught my attention.

And that make me wonder about this: http://www.bronsonandco.com