I've seen this more than a few times. FINRA, a batch of bureaucrats, will take their time about approving a spin off. The company insiders are told that approval will happen by a certain date, and FINRA will not meet their obligation.
It is almost like they enjoy showing their disdain for penny stock companies and those that buy penny stocks. Just have to sit it out and wait for when it will happen. I would not wait for the company to issue an 8K explaining what is going on, simply because FINRA will really mess with EXAD if it is made known that FINRA has dropped the ball, whether intentionally or due to additional info needed by them.
I talked to one CEO that told me that 4 different FINRA people called him, all asking for the same info on the same day. Kind of a mess over there at times.
WE MUST ALL REALIZE THE DIFFERENCE BETWEEN HOPE & EXPECTAION BASED ON GIVEN FACTS.
