Wellstar International (WLSI)

[tundra1]

These times are the wild wild west. The market is coming alive again.
I have symbols that have laid silent for years now there are heart beats.
Truly an amazing time.

[Slojab]

It would be interesting to know the thoughts going through a person's head when buying shares of a dead ticker like this one. And today's volume may only be about average for the past month.

Maybe one day, a group will try and run it, having front loaded enough shares to make the attempt.

[jokersmoker]

New name for stock WHIM

[Slojab]

Someone blows $176 on a whim. It's meaningless.

[Magnusson]

1,755,073 traded today...WHY? lol

[Slojab]

That's not a true B/A. Just something iHub has up because it's the last price the ticker had from years ago.

[jokersmoker]

Anyway im still working on that other thing . Nice to hear from you sj

[jokersmoker]

Wellstar Internation (WLSI)
0.000001 ? 0.0 (0.00%)
Volume: 0 @-
Bid Ask Day's Range
0.000001 0.000001 - - -
WLSI Detailed Quote

[jokersmoker]

Bid .000001 ask .000001

[Slojab]

I don't know where you're seeing a bid because they can't have one.

OTC Markets Group Inc. ("OTC Markets") has discontinued the display of quotes on www.otcmarkets.com for this security because it has been labeled Caveat Emptor (Buyer Beware). OTC Markets Group designates certain securities as “Caveat Emptor” and places a skull and crossbones icon next to the stock symbol to inform investors that there may be reason to exercise additional caution and perform thorough due diligence before making an investment decision in that security

The stock was suspended last year from trading due to not filing with the SEC. What possible good stuff could be coming?

[jokersmoker]

Notice we have a bid now. Think good stuff coming tundra

[tundra1]

Everyday there is a few mills of volume. WHY?

[jokersmoker]

hes doing a great job. ive already started calling him vinvent price.maybe ill see you wheon i go to nevada

[Slojab]

Absolutely. No advisor worth a damn should have a client messing around with a dead OTC ticker.

[jokersmoker]

ill guess ill just have to stop paying my advisor.

[Slojab]

How have things been going well? The only times the stock isn't at $.0001 is when it's at $.000001.

[jokersmoker]

I dont know about Saipter but things have been going well.

[Slojab]

So after a LOT of research I can see a way, but it would definitely be an uphill battle.

Ah, but is it worth the gamble?

I'm glad to see you've taken the time to do the necessary research into how things work regarding these types of tickers. Good luck if you got in this.

[Saipter]

Basically, in line with what Renee said, this stock will eventually be delisted.

In the article it states the SEC wont guarantee any further enforcement action which causes the MM to not want to take responsibility for the form 211. The article further states only 7 out of 3000+ tickers have ever properly traded again off the greys.

The only way I could reason a custodianship proceeding being successful and keeping the ticker from delisting would be to simultaneously file a custodianship proceeding in Nevada (state of incorporation) and an action against the SEC asking the court for a TRO and Temporary injunction against them delisting the stock. And as part of the settlement agreement having the SEC agree to not enforce further action in relation to the old companies operations and board (so a MM would file a form 211 and get it off the grey market).

So after a LOT of research I can see a way, but it would definitely be an uphill battle.

[Saipter]

Very interesting article that explains trading suspensions in detail and the "grey market" for anyone curious: https://otcmarketresearch.com/the-sec-just-suspended-my-stock-now-what/


"In order to resume trading normally, on the Pinks or OTCMarkets’ OTCQB tier, the company must find a market maker willing to file a Form 211 to enable it to regain compliance with Rule 15c2-11. The form looks simple enough, but it is not. And there’s a special section asking whether the issue has been subject to a trading suspension. When an MM files a 211, it assumes liability. For that reason, they are not generally willing to sponsor a company that’s been suspended unless they have very good reason to believe the SEC will not be bringing a further enforcement action. Usually the agency is unwilling to offer such guarantees, and so the stock is left in limbo."

This is pretty much in line with what Atty Brenda Hamilton said.


Interestingly it also mentions Renee at the end of the article and her work tracking delinquent tickers. I really love this board.

[jokersmoker]

works for me

[Slojab]

Just remember, that while it may be POSSIBLE to take over the company's ticker and get off the greys, what has to be done is probably very difficult and time consuming, which would require more money than would be prudent for someone to spend when there are so many other tickers that could be used to go public costing far less money.

[jokersmoker]

To be honest Saipter I think Im gonna go for it. Were back at .0001 today

[Saipter]

Well I am still interested, so if you would like to shoot over his info, I'll give him a call!

[jokersmoker]

An investment lawyer out of toronto

[Slojab]

Who is William?

[jokersmoker]

Thats not what i heard from william. He told me that it will be a little harder than most but very doable.

[Saipter]

Ok guys this is what I learned from my talks with Mrs. Hamilton.

Because I have been a large shareholder for a long time I would have been eligible to file the custodianship proceedings and would have most likely won this case fairly easily.

However, since this entity was the recipient of a trading suspension by the SEC it would be very difficult to ever usefully trade this equity ever again.

In order to trade on the OTC markets or an exchange a market maker would need to file a form 211 with the sec. The entity itself cannot file this form, but can apply with a market maker to file the form for them.

This is technically possible, but since trading was suspended, practically, this stock "will never trade again" since no market maker will feel comfortable to file the form 211. According to Brenda this stock is now forever on the grey market.

A little disappointing since I was looking forward to the challenge and traveling to Vegas for the proceedings.

She advised me to go with a direct public offering with my existing company and not pursue the reverse merger. If I find out anything different I will keep yall updated.

-Austin

[Slojab]

Good luck. Maybe one day shareholders will learn what it is they'll be doing as a company.

[jokersmoker]

I might as well get on the bandwagon and buy this too. Makes a great gift

[Slojab]

Brenda's the right way to go. I didn't know about having to be a shareholder, but that's easily remedied.

You don't have to tell me about being OCD.

[Saipter]

Well for starters it is the only shell company I own stock in, have owned for 11 years and since it is required to be a shareholder to initiate custodianship proceedings this makes it a first thought (although I didn't really know that until you pointed me in the right direction).

2. I have always been just a tad OCD, and if there is one way to get this ticker not to be useless junk in my brokerage account and also a vehicle for me to go public with my company, 2 birds 1 stone.

Now, that being said, I have a phone meeting scheduled with securities atty Brenda Hamilton tomorrow (the one who makes those informative blog posts about not getting scammed by purchasing a hijacked public shell) so I will run a list of questions by her and then decide if I am dissuaded.

Yall will be the first to know!

-Austin

[jokersmoker]

Ah but none as much fun!

[Slojab]

Why the focus on the WLSI shell? There are plenty of others that are much cleaner.

https://dealstream.com/posts?topic=shells

[Saipter]

Thanks again Slojab, always comin in clutch!

[Saipter]

I certainly understand, I was in this one (and still am) when Antonio did a r/s and then diluted the common stock to hell. What they did was basically fraud. Who knows if they even had a working product. Hard to tell from the SEC filings and available info.

Unfortunately now that it is diluted so badly (more than 8.6 billion shares outstanding) there is almost no bid. AAPL has only 836 million.. Tesla just over 100 million. For this company to have any value to me it would need to be able to obtain listing on the very least the OTCQB, but I'm seeking the Nasdaq or NYSE. Although a r/s wouldn't be great, I'm hoping to be able to take custodianship of the company and cancel all outstanding shares of preferred stock, warrants and convertible debt obligations owned by the precious officers to avoid anymore dilution. I would also revise the number of authorized shares down to 20 million and after the r/s approximately 8.6 million would remain in the float.

Anyway, don't buy this stock based on any of these statements. I just found out the delinquencies alone are almost 100K to revive this company just w/ the Nevada SOS. Looking into how I can possibly get them reduced.

-Austin

[Magnusson]

Yes I'm in this one.

I'm dealing with 2 R/S right now, I'm trying to get back 3/4 of my initial investment back right now.. GTC orders. If these same 2 does another R/S down the road, I'll be charged for it. $20+ for each one.

[Slojab]

Certainly not, if you're in one when it happens. If not, it's best to stay clear of one until the dust (sp) settles.

[Slojab]

The OTC doesn't manage (regulate) anything, really. Not in the way you intimate, that is, like the SEC or Finra. They're a publicly traded company that operates a private trading platform for what was previously known as the pinksheets. The OTCBB hardly exists any longer. But for further clarification on who controls what happens with WLSI from this point on is something you might want to ask on this board.

https://investorshub.advfn.com/DD-Support-Board-and-Research-Team-19670/

Maybe address your questions to Renee who is a mod there and specializes in the subject.

This is the board you could direct questions to her on.

https://investorshub.advfn.com/SEC-Suspensions-&-Revocations-25334/

[Magnusson]

R/S are no fun...

[Saipter]

Slojab another quick question. Earlier you posted that WLSI will remain active until FINRA sees and I found that FINRA manages the OTCBB exchange, and OTC Markets group manages the Pink Sheets.

According to what I read (from OTC Market Groups own website) Pink Sheet listed securities do not have SEC reporting requirements whereas OTCBB does (regulated by FINRA).

From what I can tell WLSI is listed on the Pink Sheets as of now and would therefore not be subject to SEC reporting requirements and would therefore not be delisted by FINRA.

Is there a definitive way to tell whether or not it is listed on OTCBB or Pink Sheets?

[Slojab]

You're welcome and good luck.

[Saipter]

So I know I already said thank you, but I must say it again. You pointed me in exactly the right direction and I found out exactly what to do.. even sample petitions to use. And as my boss always says "when drafting legal documents in haste, there is always copy and paste!"

Anyway thanks for the pro tip. I have applied with Nasdaq and Nyse to reserve the "S" ticker symbol so wish me luck.

[Saipter]

Thank you for the resource Slojab.. much appreciated

[Slojab]

I wouldn't think the SEC would be interested in someone's attempt to take over an OTC ticker. Especially one that has been delinquent in filing for the past 10 years.

I don't believe there's a need to contact Antonio, either. From all the instances I've experienced, applying for custodianship is used for taking over a shell.

This board would be the best place I could think of for the questions you have and the guidance you seek.

https://investorshub.advfn.com/Shell-Monster-Stocks-**Shell-Custodian-Material-Event-Plays**-SHELL-37363/

[Saipter]

I appreciate the heads up. Of course I don't expect everything to work like a well oiled machine, but I figured it was worth a shot for a cheap shell. There would be some things to tidy up, but agreements could be proposed in both the interest of the company and existing large shareholders.

As of 4/9/20 I have left 2 messages with the SEC and no response.. also no luck in contacting Antonio. Will keep you all updated, may be a shot in the dark. I know a lot of you have been following this stock for 10+ years, if you have any tips I am all ears.

-Austin

[jokersmoker]

please dont louse up a good thing.you know in 2014 someonne bought 2.5 billion shares.no fooling

[Saipter]

Obviously with all the outstanding shares if I were able to complete the reverse merger a reverse split of 100:1 or 1000:1 would be necessary with all the outstanding shares.

With Sprint merging with T-Mobile and the "S" ticker symbol becoming available this is the ideal time for me to attempt this and get a single letter ticker. No idea if this is even feasible, but the idea is to start a chain of grocery stores beginning in the Houston metro areas that accepts bitcoin as payment. I am a strong believer that the FED's actions during this pandemic will cause hyperinflation comparable to that of the Weimar Republic.

-Austin

[Saipter]

Ok guys, before anyone gets too excited let me provide a disclaimer that I am looking into it and due to the SEC suspending trading and possible delinting, don't go rushing into this stock from this post.

But I'm looking for some help getting into contact with the Antonio guy as I am looking at buying this shell and doing a reverse merger with my private company, Saipter Corporation. I am trying to get some information from any of you who are familiar with the process since I have some legal experience and would prefer not to hire a lawyer. First of all I would need to conduct a preliminary background check on the prior owner Antonio and the shell to determine any risk, but from there if anyone is familiar with the process and wants to help I have legal software and court experience. I will be contacting the SEC tomorrow per the information provided by Renee in the SEC order to let them know my intents to see if I can avoid it being delisted by FINRA or the SEC before I have a chance to move forward on this.

Again do not rush into this security, I have been following this stock for 11 years and bought it when I was 17, which is why I am curious in this shell specifically.

-Austin

[tundra1]

It's alive It's alive