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Yeah it's a done deal and Chancellor Zurn was just being very careful and meticulous in this case. I think she signs off on it by Friday myself. This thing is waiting to explode once that happens, knowing the avalanche of catalysts that are being stacked up as we speak.
My understanding from the person I spoke to this morning, once they apply for membership and are approved, no company has ever not become current and it usually is about a week or so when they get approved to when they become current. It would make zero sense to become a member and not have the necessary information/filings ready to go. It cost about $6500 a year roughly. That being said this is just my opinion and take it for what it's worth.
Lol....Yeah I've tried all the various numbers really, and I have been shot down several times before, so either golden tongue or lucky to find the right person.
Here is the link......https://www.otcmarkets.com/stock/ENZC/disclosure
Check here for filings when they get uploaded
Your welcome, no problem
I don't think they will PR membership, they will just wait until they are current probably. That's what we are looking for really anyways.
Yes, now the onus is on the company to upload the necessary information. We knew membership was coming based on the latest PR, just didn't know the exact date but it said by end of this week.
That's the only way to know unless you call the OTC yourself, they PR it, or you see filings updated on the website. Stop sign will still be there until they are current
Should see filings hit today or tomorrow
No link just made a phone call.
Just go to ENZC and then click on Disclosure, on the OTC markets website
ENZC is free to upload their delinquent quarterlies right now, nothing stopping them. They said immediately so we'll just keep checking the OTC website as they will be there first when they do it.
Membership is approved so filings should be hitting anytime now. May take a week or so to get current, and if the quarterly filings are audited, they don't need an attorney letter, but if unaudited they would need one. She has never seen a company apply for membership and not become current, which makes sense, why apply for membership as the sole reason to do so is get current and be able to file your quarterly information. Should be an exciting end of this week and into next!
On the broker dealer side of it there is a 30 day reporting requirement, but not sure about it in this case what would apply.
Change of control already happened, and Mr Kreuder took controlling interest now of QUTR. We just don't know yet what he has in store for the new company, since he hasn't said anything since the 8/k.
We definitely could, nobody knows. The uncertainty now since there is nothing left but the PR from the incoming company, is why people are bailing. I'm still very bullish myself, and when that day comes it will turn around fast imo. Just hard to watch because people are having to sell for such a loss with nobody really wanting to buy right now, unless it's for a huge discount.
Problem is we are going on the 4th week since the 8/k and change of control. Without the PR from Mr Kreuder, there really is no reason for anyone at this pt to be buying, especially since nobody has any clue when that might come. Hence why we are down almost 30% on extremely light vol, less than 30k traded I believe. People are bailing until the PR, and will jump back in then.
Just my opinion, she made it sound like 2 weeks would be the absolute maximum, and it was more of a frustration with the lawyer not supposedly sending a hard copy with the courts, which she said happens quite a bit, then anything else. So it could literally be any day now basically.
Benjamin Berry is the court appointed custodian of STHC. They have petitioned the Delaware courts to release him from custodianship and allow basically Ameca to take over the reigns of the company. The Chancellor now has all the information necessary, as of September 21 when they filed the necessary tax documentation she asked for on September 15, so all there is left to do basically is get her signature and Ameca can start ownership and do what they want.
That is correct, according to them it hadn't been done so since Friday.
Yeah she said someone else I think had just called prior, and I think the Chancellor has only been in her position for 2 years and has several other similar cases, she just is being very cautious before proceeding with the discharge. Kinda like this case will sorta set precedence and the others may or may not take this long to complete. All in my opinion of course.
According to the office administrator, yes, the lawyer needs to send them a hard copy and as of Friday he had not yet done so. It sounded like more of a technicality but would not hold up the discharge, but that's just my opinion. And the reason I say that is because she also basically said give it 2 weeks tops to complete.
Exactly right, we will know wants we start seeing the filings being uploaded. And from my research that could happen this week, or at the latest next week.
Once membership is approved, the onus is then strictly on ENZC to file and upload all delinquent quarterlies, and the OTC has no bearing if or when that happens. Meaning their membership approval just gives ENZC the ability to do just that and become current.
They applied sometime around October 1 because that's when the PR came out stating that they had applied. Could have been a few days prior but who knows exactly when. The confusion I think is becoming a member and becoming current with the stop sign removed are 2 completely different animals. We can be members, which we probably will be this week, but still be delinquent and have our stop sign in place until all criteria are met to become current.
Just to be 100% clear and I just called the OTC to verify this information, ENZC has applied for OTC Membership, and that generally takes anywhere from 1-4 weeks. Once membership is approved, that then gives them the ability to upload their delinquent quarters in order to get current. They can become a OTC member and never upload anything or take however long to upload their delinquent quarterlies. They will still have a Stop sign and there is no notification that they are members unless the company wants to PR that membership is approved. So in a nutshell, OTC membership just gives them the ability to upload all the necessary documents for becoming current. Once they get approved, it's up to the company to do that, and it has nothing to do with OTC at that point. Hope that clears things up regarding the process.
Yep no problem. Could be this week or any day now really, she just made it sound like absolutely no more than 2 weeks at the most. Not sure why our attorney never sent in a hard copy of the file, as she did say she reached out several times to him for that to be sent in. Good thing is the Chancellor did not ask for anything else and it's basically a done deal at this pt, just a matter of when.
According to my research as I called the Chancellor's adminstrative assistant myself on Friday and asked her about our case, that they did receive the tax file that was requested on September 15 by the Chancellor on September 21, but our lawyer had not yet sent a hard copy which is also required to be filed by the courts. However, she said there are other similar cases that are coming up and she just wants to make sure that all the T's and I's are crossed and dotted sorta speak. The Chancellor wants this off her books just as much as we do she said, and look for that to happen within 2 weeks tops.
That's exactly what I said if you reread my post. Can't update filings until they are OTC membership is accepted, and then quarterlies and then the attorney letter.
I'm not so sure there is a backlog sorta speak, but more so that these employees are still mainly working remotely or from home.
Yes I agree and it's all a process obviously. First things first is the OTC membership approval, and then will see how fast and quickly they upload the delinquent quarterlies. Attorney letter would be the last piece needed basically after all the necessary filings have taken place.
I mean unless the company is just flat out lying, they have said this on their October 1 PR.
"In anticipation of ENZC bringing current its OTC filings the Company has made application to OTC Markets for membership. Once the Membership Application is approved by OTC Markets, the Company will begin filing its delinquent quarters"
It's been confirmed that they have applied and are waiting on membership approval, which is still under review. Depending on what the company actually applies for, membership takes anywhere from 1-4 weeks. Another week or 2 tops to be approved, and then we'll see the delinquent quarters begin to be filed. Also remember they retained SEC counsel back in April to help with this process. My guess is this merger has been in the works for awhile.
Why would the new CEO, Charles Cotropia, sign a binding LOI, if the financials were not super close to being wrapped up. Plus, they applied for OTC membership 2 weeks ago in anticipation of this very thing. Nobody can say for sure how much longer, but you would think it should be relatively soon!
Seems to have found pretty decent support/base right now at around .011.
Looking for support and we are right at the 50 dma of .009. Should hopefully bounce off here and head higher. Still just waiting on that PR that will change the landscape for good.
People have grown impatient here waiting I believe. Just need to get this custodianship over with and the landscape will change immediately.
Average length of time to process OTC Membership application is around 2 weeks. Which means by the end of next week, the membership should be approved and the filing of delinquent quarters should begin. Once that happens, we should definitely be leaving the .01s and even .02's behind, and trading in the .03+ range imo. Since they have already executed the LOI, the merger could take anywhere from a few weeks to 4 months to complete. So much exciting stuff, including the application for funding from the NSF and NIH, multiple catalysts galore here!
Yesterday's afternoon raid by CDEL was nothing more than them covering themselves for shares they were short. If you noticed during that raid, they were basically on the Bid/Ask, and not only was the spread big most of the time, no other market maker was even close to them. Never one attempt of another market maker to put a higher Bid in than CDEL on the way down.
May dip a little further tomorrow and Friday before we start to consolidate a litter higher. Went from .0095 to .0030 before it consolidated right around .0060 for almost 5 straight days. That's what was needed to get this next leg up where we hit .0217. We should be able to hit .03 by next week sometime. Of course all bets are off if we get a PR before then. This is trading very nicely/healthy in my opinion.....;)
Everyone wants this to hit silver and eventually $$$, but pullbacks and consolidations on the way up are extremely healthy, normal, and necessary. The key going forward in the short term imo is getting their application approved from the OTC and getting all their quarterlies updated/filed. This will definitely solidify ENZC moving forward and into the upcoming merger.