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Wednesday, August 24, 2016 9:23:49 PM
The QX and QB are the higher tiers of the OTC market, they at least require a company is SEC reporting, which TRON no longer is.
As per the Evergreen Rule, being as TRON was a SEC reporting shell company that is no longer reporting (once a SEC registrant) they do not have Rule 144 available for persons to be able to legally sell PIPE shares, or convertible debt shares, or any restricted shares into the market.
That would require TRON to become SEC compliant again, which is even a more tedious process since they filed Form 15 recently to go to dark SEC filer status legally.
Now they need a brand new Form 10 or S-1 filed with, and approved by, the SEC to garner new investment of any kind if any investor has a lick of common sense and knowledge of the true stock market. Not the perceptions presented in the message board market, which are most often erroneous if not downright deceptive.
The process to become fully reporting again is more difficult once a company files to go dark. The SEC is going to have a lot of questions.
No PIPE investor with a lick of sense would invest in an ex SEC filer shell subject to the Evergreen Rule, which TRON clearly is.
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