Southern Concepts Restaurant Group Inc (RIBS)

[fink]

Tax loss season is upon us.

I got one I'd love to dump to off set gains. -$7k but think I'll let it ride into 2024.


I'm not sure if they can even pull off a Corporate action under the Yield sign, but I don't know why they don't hit the reset button in here.
100:1 and clean out the O/S once and for all. Raise the A/S to 500m or 250m.



125m A/S
97m O/S
60m float. Reset it! 50:1 or 100:1

Turn it into a .30-.40 stock and watch it bleed down from there? It would make an attractive shell then.

All I see is delisted in 2024
Control ain't giving anyone hope.

This year is in the books for me. Happy New Year to all.

[OMOLIVES]

You are going to need a major sucker to sell down there ..lol. They are out there though. That Jack would take a suckers loss for a small handful of cash. F' that....take it up the arse' like a man if this gets booted. I mean seriously. It's not like some idiot has thousands of dollars invested. The biggest loser here is Jay Roth with his $2,089,517.35 that he is apparently cool with writing off.

Or is he?..lol.

[splintered sunlight]

Too funny - no idea.

Hopefully they now something.

[fink]

Who just had to have some of this?

Up 195% my ass

If you want shares, that's how ya gotta do it.
I wont bite into this again till it's below .0007

[splintered sunlight]

LFG

[OMOLIVES]

Just think of it as a parlay bet...or a future. It's either worthless or major fat bank. Parlays are always sweet very low cash outlays for major bank :)

We need Roth to man up and put Notes Live in here....now that would be insanely fat ;)

[splintered sunlight]

Well it was good for a while.

Unfortunately that while was a long time ago......

[OMOLIVES]

Here's a reference to the 16 Months pink limited...reference only:

https://www.otcmarkets.com/stock/SBUM/disclosure

They have only filed annuals and the last one was in January of this year. No updates since then and it has been 9 months since last financial. Key point being annual.

[OMOLIVES]

It's 16 Months from the last annual to remain pink limited...so the start date should be 3/31/2023

The biggest change that we’ve made for Pink Limited disclosure guidelines recently, is to change the timing of the financials that are due. We lowered those requirements to line up more clearly with the SEC’s guidelines. The bottom line is, we need an annual report that’s dated for a period within the last 16 months and we need the company to verify their profile information that’s displayed on OTC Markets to the public.

https://blog.otcmarkets.com/2021/07/16/otc-markets-rule-15c2-11-amendments-faqs/

It's still confusing though....And I though much was delayed for two years(2025) .... https://www.law.cornell.edu/cfr/text/17/240.15c2-11. The OTC always says two different things...lol. Read the blog...it's still a bit confusing :)

[fink]

They have till mid Nov to file Q2 or they are delisted to the EM.

They have tons of time.
I for one can't wait to see the next two disclosures.

Where is the control block today?


And really! R/S the shit out of this. No reason to be over a 1.5m O/S. A 10:1 R/S makes sense. If they have a clue how to do it.

If so hit the reset button on this.

[OMOLIVES]

It smells of Roth. That may not be bad....but damn. I never play non reporting...probably three times over the past 22 years...max. I had to take this one given obvious Roth reasons. Something about that cat...I don't like. I think it's just his salesmanship....he's good. Actually, really good...and has a ton of cash....behind him as well.

Welp, we have at the very least...12 Months before a scratch. lol...Jesus!

[fink]

Only way to Play this is to wait and accumulate if the bottom drops out.
Then wait.
I thought Sunergy negotiated the $1.8m settlement judgment debt out when DiMagio bought the shell? DiMagio bought control then handed it back to JW on a silver platter throug giving control back to the restricted block. JW!
DiMagio. Canceled the P-shares.
Ben and I've had e-mails on this. We were both floored why anyone would do that?
The entire shells story is odd.
I was thinking below.022, I'd take an intrest and buy down till it bounces or gets a story.,
Hold like a lotto ticket with no expectations.,
This limited pink cuts out a lot of buyers, only allows selling from many brokers.
I'm with e-trade and can still set BIDs

[OMOLIVES]

I had to double check...it's 16 Months after last financial. So I'm just using March as a starting point when OTC changed their protocols. The share count is excellent and the debt is a non player(owed to JW).....and I certainly don't know why JW is not using this yet. He has the vehicle needed(him and family majority of shares), canceled the pre IPO and is raising a ton of cash.

I mean...you can't not play this shell...lol.

Double negative away...eh?

[fink]

I was just thinking about this Monday. Even took a look in.
Limited is uncool.
How much more time do they have?

If they get lazy and let this slip onto the EM, it won't age well when they eat back current.
I can't believe they missed the Q

[OMOLIVES]

It has a full year plus from now to stay "limited". In the meantime, I just follow Roth .. https://m-vest.com/offerings/notesliveinc

[fink]

No word in a month.

Someone must own the float for this to be holding flat.

[OMOLIVES]

One of my shells just acquired a fatty as a sub....now just waiting on this one. As long as it takes :)

[fink]

No.
I thought it was going to be delisted and die in grey sheet hell till Roth rehires Synergy for a third time to clean it up.

Guess I was wrong on some of that.

Many better shells out there sitting idle To use Than this snake bit shell. But Roth is still a whale. So who knows?

[fink]

I’m still sticking to this.
Just looking in.

[fink]

So DiMagio has recreated the Series A to his liking?

Nice to see someone at the helm.
I saw this Series A drama as a no way out from a definite trip into grey sheet hell.

When does he go after Ben? This had to cost DiMagio some of his inheritance $$.


I’m still stewing if there will be a good play in here.

Roth had to be the one to okay all this, so he’s onboard if these Series A are legit now.

The Board approved all this. That’s the block of Restricted shares.

[OMOLIVES]

Target. Getting close to closing a target acquisition.

[aljafy]

close to what?

[OMOLIVES]

The cleaned up Colorado:

Correction: To correct the foregoing, the Corporation is filing this Certificate of Correction to file the Restated Articles with the Series A Certificate included therein with the Colorado Secretary of State.

https://www.sos.state.co.us/biz/ViewImage.do?masterFileId=20081058152&fileId=20231521800

Maybe getting close.

[OMOLIVES]

Love how the first contact was terminated ....lol. Still keeping Notes Live Inc... in my back pocket.

[OMOLIVES]

No need to hope friend. It's not that dire at all....nothing is.

[splintered sunlight]

Let's hope so.

[OMOLIVES]

Yes...with an opportunity though. There's not much left in the OTC quoted venue.

[50 MIL STRONG]

RIBS: Share Structure UNCHANGED
https://www.otcmarkets.com/stock/RIBS/security
Authorized Shares
125,000,000
04/03/2023
Outstanding Shares
97,554,634
04/03/2023
Restricted
71,966,836
04/03/2023
Unrestricted
25,587,798
04/03/2023
Held at DTC
19,600,086
04/03/2023

Authorized Shares
125,000,000
01/03/2022
Outstanding Shares
97,554,634
01/03/2022
Restricted
71,966,836
01/03/2022
Unrestricted
25,587,798
01/03/2022
Held at DTC
19,600,086
01/03/2022

[splintered sunlight]

Garbage

[threewheeler]

OTC Markets Group Inc.
OTC Pink Basic Disclosure Guidelines (v3.1 June 24, 2021) Page 1 of 19
Disclosure Statement Pursuant to the Pink Basic Disclosure Guidelines
Southern Concepts Restaurant Group, Inc.
3001 PGA Boulevard,
Suite 305
Palm Beach Gardens, FL
33410
SIC Code 1445918
Amendment No. 1 to
Annual Report
For the Period Ending: December 31, 2022
(the “Reporting Period”)
Outstanding Shares
The number of shares outstanding of our Common Stock was:
97,554,633 as of December 31, 2022
97,554,633 as of December 31, 2021
Shell Status
Indicate by check mark whether the company is a shell company (as defined in Rule 405 of the Securities Act of 1933 and
Rule 12b-2 of the Exchange Act of 1934 and Rule 15c2-11 of the Exchange Act of 1934):
Yes: No: X
Indicate by check mark whether the company’s shell status has changed since the previous reporting period:
Yes: X No:
Change in Control
Indicate by check mark whether a Change in Control 1 of the company has occurred over this reporting period:
Yes: No: X

[OMOLIVES]

I think they are pretty good with what they do. It's a constant battle it seems and they have to work with what they have.

I was going to buy OTCM @ a rough $6 for dividend...but didn't. My mistake.

[NewJerichoMan]

The OTC seems to have no idea what it is doing, i.e., nothing new under the sun.

I wonder since the shell came off for 1 day if that was enough to reset the 18-month clock. If common sense were used, it wouldn't be. But this is the OTC.

[OMOLIVES]

And back to shell risk...lol.

[threewheeler]

$RIBS

0.0067
(https://www.tradingview.com/symbols/RIBS/?offer_id=10&aff_id=29379)Pink Current, AS: 125M, OS: 97M, US: 25M

Shell Badge Removed

Chart (https://www.tradingview.com/symbols/RIBS/?offer_id=10&aff_id=29379), OTC Profile (https://www.otcmarkets.com/stock/RIBS/security), Twitter (https://twitter.com/search?q=$RIBS&src=typed_query), @otcupdates

Update: 2023-03-30 16:29:21 (UTC)

[OMOLIVES]

They need to see that box checked in the upload coming tomorrow or next. I know I'd be... if I were them.

[threewheeler]

yeap can only post what they give us

[OMOLIVES]

Now it's back to shell from shell risk...lol.

[OMOLIVES]

I didn't think that upload would suffice. And....I was wrong :)

[threewheeler]

$RIBS
0.0067
(https://www.tradingview.com/symbols/RIBS/?offer_id=10&aff_id=29379)Pink Current, AS: 125M, OS: 97M, US: 25M

Shell Badge Removed

Chart (https://www.tradingview.com/symbols/RIBS/?offer_id=10&aff_id=29379), OTC Profile (https://www.otcmarkets.com/stock/RIBS/security), Twitter (https://twitter.com/search?q=$RIBS&src=typed_query), @otcupdates

Update: 2023-03-29 18:26:43 (UTC)

[nsomniyak]

The table stakes for shells is now the $100MM it takes to IPO a new SPAC.

[fink]

The bigger problem, and this goes back way before 1990s, way before online trading became a thing. BigBoards want to kill off the OTC. It’s always been under attack. Man back when you had to call a guy to make a trade, they would piss and moan about oTC stocks, make you feel like an idiot and money fool. They want the $Billions sitting in the otc moved into their exchanges.
The OTC deserves it, but I think they’ve done a great job taking out the trash.
They want to remove the Reverse Merger Lure of the otc. IPO process for everyone. Once a shell dies, it’s gone for good…..unless it’s a Big Board shell. That’s how you know it’s just a turf war

[OMOLIVES]

I don't think they understand the difference between current information shells and non current.

[OMOLIVES]

You saw the upload...yes? I don't think it will fly but all they have to do is let OTC do it's thing:

OTC Markets Group will play a greater role in bringing companies onto our markets. Under the amended rule, our OTC Link ATS trading platform will function as a “qualified interdealer quotation system” and brokers will be able to rely on our current information designations in lieu of submitting a Form 211 with FINRA. This new regulatory status will streamline the pathway to the public markets for companies that are current in their disclosure obligations.

And again, unsolicited quotes is not the same as expert market.

[OMOLIVES]

I'm not sure the latest disclosure applies/lifts the shell status. let's see ... https://www.otcmarkets.com/otcapi/company/financial-report/362996/content

But no matter what.....they don't need to do much for solicited quotes. Refer to the new OTC updates and 211. really want Notes in this...but the share structure is so low...and paperwork is so clean...so who ever..lol.

We will know more come Friday.

[fink]

I can’t believe how many low alerts I got at the close.

The ones I’m Bid sitting in scored me some cheap shares. I hope tomorrow is a knee jerk blood bath.
People will see Wed this shell rule means nothing.
Opportunity knocked today.
I’m up today 155% on one shell. I’m praying it gets kicked down tomorrow 50+%

[OMOLIVES]

On a few good ones...it should help the issuer when finding a target having a better share price. You would have to find a brake for volatility though..lol. Holly hell. Only the cleanest ones will cut it.

[fink]

MMs just don’t have to show the size on the spread.
We all know they lie like hell and manipulate.
I think we will see retail MMs with actual size trades.


This will only help a diluting CEO, but most of those have been carved out from the last set of rules.
The days of not filing Qs or Ks are done. I think tomorrows rule is history repeating itself. This is the way it was when online trading first started. The Scottrade days. Buying and selling OTCs on margins. Fun times back then.

It’s all about keeping current now.
Set your limit buys and sells, let it come to you.
L2 is only a fraction of the real story. I don’t expect much tomorrow. Pink limited might be the place to look for volatility. The daily Tier list might be a morning must see again.
E*trade allows Pink Limited.
Could snif out a few good buys.,

[OMOLIVES]

Sure...and on another note regarding march 28th....the only thing to happen here is unsolicited quotes. It will be/should still be quoted on the OTC link site....just not broker/dealer. So it will get very volatile ..very. :)

[fink]

I’ve seen worse.
Prision stocks are a good risk like GEO once they JFK Trump and kill off the last MAGA standing. you know they want too. LOL

[WHITTENHALLJR]

That’s a gloomy report… My money tied up in synergy plays ugggggg…