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That is my takeaway based on the definition of a Reverse Merger.
From the December PR
GRILLiT, Inc. (OTC: GRLT) is announcing that it has acquired 100% of GRILLiT of the Suncoast, LLC, and is announcing the transition in leadership.
Effective January 2018 Greg Mitchell who owns the Master Franchise agreement for Grillit Of the Suncoast takes over GRLT. In December 2018 GRLT acquires 100% of Grillit of the Suncoast.
Reads like a Reverse Merger to me. . .
In a reverse merger, investors of the private company acquire a majority of the shares of a public shell company, which is then combined with the purchasing entity. Investment banks and financial institutions typically use shell companies as vehicles to complete these deals. These simple shell companies can be registered with the Securities and Exchange Commission (SEC) on the front end (prior to the deal), making the registration process relatively straightforward and less expensive. To consummate the deal, the private company trades shares with the public shell in exchange for the shell's stock, transforming the acquirer into a public company.
So I do believe the PR from December is in fact the announcement and confirmation you seek.
https://www.pr.com/press-release/770791
Business License renewal for another year through 5/31/2020 complete:
https://www.nvsos.gov/SOSEntitySearch/CorpDetails.aspx?lx8nvq=dGIfLBdCqK%252fan5cLEDceVg%253d%253d&nt7=0
Why does he want to use GRLT??
Why not start fresh with a new SEC regestraint?
Greg Mitchell's goal is to help the current shareholders of GRLT recoup at least some of their loss. . . How does one do that without using GRLT?
What about it is, it is active under Greg Mitchell.
Grillit of the Suncoast is still active on sunbiz.org
shouldn't you be looking at sunbiz.org? The site you referenced has nothing to do with business licenses.
Not like anything you have ever seen before.
Mr. Greg Mitchell is personally invested in creating a solid reputable investment for the shareholders of GRLT.
Good point. Who can?
We were obviously kidding. That is not at all helpful.
These statements from the Press Release do actually say alot:
a lengthy due diligence process was necessary to understand the current and ongoing business, financial, and legal situations faced by GRILLiT Inc.
The financial challenges GRILLiT INC faces are ongoing and we hope to have financials that I am willing to sign as truthful in the coming months." – Greg Mitchell
Still no mention of the basic step of admitting there is fraud and notifying the public thru a OTCMarket disclosure statement
Anyone well versed in how this all works is well aware that everyone is required to pay OTC fees in order to post any information. As we all can imagine those fees were not paid by previous management, and since GRLT has no money, the cost of covering OTC required fees must come from Mr. Greg Mitchell's personal coffers. Something Mr. Mitchell is willing to do.
the previous disclosure statements and financial statements cannot be relied upon because they are incomplete and misleading. Fraudulent. That they need to be corrected, completed and restated.
Precisely what Mr. Greg Mitchell is taking the time to do. The financials will be released when Mr. Mitchell feels fully confident in what he will be reporting and restating as necessary. Mr. Mitchell will report the restated financials when he is confident everything he is reporting is factual.
How can Greg file disclosure statements based off of fraudulent financial and disclosure statements????
He won't!! Which is precisely why Mr. Mitchell is taking the time to ensure what he does file is in fact based on all the facts.
I do not believe there was any intention or attempt to deceive in that PR. The PR was to address the concerns of established shareholders who are well aware of GRLT past mismanagement and failures.
Third paragraph:
"Greg Mitchell has been an investor in GRLT common stock since late 2014."
Seventh paragraph:
“I invested in GRLT because I believed that GRILLiT had a great product and ability to expand rapidly. My family visited the store in Miami as well as the store in Nashville before deciding to purchase our Franchise in Tampa and purchasing GRLT stock on the open market."
How many times has Mikey said it was Keith Wilkerson who told him of Greg Mitchell being the new CEO???? Mikey posted the information.
Greg Mitchell did not "disseminate" the information before he issued the public Press Release on December 20, 2018.
They will be
I agree with this sentiment.
When was your last conversation with Greg?
OTCM - GRLT Company Profile updated and verified:
https://www.otcmarkets.com/stock/GRLT/profile
MERRY CHRISTMAS! Looking forward to an EVENT FULL New Year 2019 :)
As was stated in the PR:
Currently, GRILLiT is a majority owner of a rental commercial property
Ask: info@grillitofthesuncoast.com
It has been asked, and answered many times.
Mr. Mitchell is looking to benefit all the shareholders of GRLT. This is not all about self and only self. And that is Why not just start over with a NEW company!
You have his contact information, as do we all. Ask him yourself.
Maybe Wilkerson did it. . .
Quote:
"Apparently Greg Mitchell has not yet gotten the codes for OTCM from the crooks yet. No news release or any other updated info there. A common tactic of scammers like the Blackburn gang of cons is to withhold that info (the codes) until payment is made. Then Greg will need to pay the money due to OTCM." UnQuote
Mikey, how do you buy when OTC has STOP Dark or Defunct warning activated? Neither of my Brokers will allow a BUY order under these conditions. . . just curious how.
It is an honest representation
Greg Mitchell will make his decisions and take his actions based on his own best judgement, the advice of legal counsel, and not the dictates of others who believe they can coerce him to act prematurely and irresponsibly.
Granted, it was an error in judgement when Greg Mitchell prematurely shared any information with MikeyInTheD. A mistake I am pretty sure he probably has regretted at some point. How exactly that came about I do not know.
I do know Greg Mitchell was not ready for that information to be made public! There have been many claims laid out by many people regarding GRLT's past. A very long past. Imagine how difficult it is to get to the bottom of all that has passed. All the individuals involved.
Do you know any responsible CEO who would come out and make public statements regarding the mismanagement of the past and/or the plans for the future without having all the facts? Do you believe for even one second any of the past CEO's, Director's, CFO's, Consultants, etc are jumping at the chance to help someone who is working to recoup his investment, turn the GRLT ticker in to a real business and bring some value to the shareholders of GRLT??
Not the first. It has dropped to .000001 several times.
It is ridiculous to hold the expectation of Mr. Mitchell to conduct himself and his business according to what some single incredibly biased individual insists need be done to take responsibility.
Mr. Mitchell has no responsibility for the mismanagement of the past.
Mr.Mitchell has taken on the responsibility for building the possibility of a future for GRLT.
You finally get it.
take responsibility to right the inaccuracy's and fraud of GRLT
Mr. Mitchell had nothing to do with previous disclosure statements.
Mr. Mitchell bears no responsibility for previous disclosure statements.
Mr.Mitchell is not responsible for the past mismanagement of GRLT.
Mr. Mitchell is the steward of the future for GRLT and hope for the shareholders of GRLT.
Disclosure will be Timely, Accurate, and True
Definition of timely (Entry 1 of 2)
1 : coming early or at the right time
Definition of timely (Entry 2 of 2)
1 : in time : OPPORTUNELY
Definition of opportune
1 : suitable or convenient for a particular occurrence
2 : occurring at an appropriate time
And. . . ... It will be ACCURATE and TRUE as well!
I refer you to FUALL post #13965
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=139705155
I believe it has been said before. Mr. Mitchell is looking to benefit all the shareholders of GRLT. This is not all about self and only self. And that is Why not just start over with a NEW company!
The website has just recently been completely redesigned.
Have yourself a Happy Thanksgiving
True. Greg Mitchell has been CEO for many months. Greg Mitchell has worked the past many months delving in to the financials and sorting through the messes of past mismanagement.
What I said was: "The Business License was reinstated all of two days ago!"
The Business License reinstatement is in fact the result of Greg's quiet circumspect work over these past months.
Give the man a BLEEPing chance. The Business License was reinstated all of two days ago! Greg Mitchell prefers to operate in a thoughtful, careful, legal, and precise manner.
We will see. . .