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Sounds like a plan. I think both Q and I live in Canada. so it will be an international affair lol.
re Monster DD haha Just saw the post re Nasdaq requirements. Another great job by Q!
Thank you again for all you do for this board:). I don't know how we can repay you for your kindness and patience.
Thank you LAQuest.
Thank you very much Q.
the last 10K was filed on May 23, 2017 for the year ended November 30, 2016. It was for Devago Inc. There was no mention of 12 Retech.
Genuine question - Can you use the financial statements of the acquired (Devago) in a reverse merger as the basis for being eligible for OTCQB?
If the answer is yes, then yes we might expect an OTCQB listing prior to end of calendar 2017.
If the answer is no, then does 12 Retech have audited statements for its 2016 year end? This I don't know the answer to.
Regardless I have no doubt that the continuing entity, 12 Retech, will become eligible for OTCQB. I just have a question about the timing.
I could see that happening!
re uplisting timing - please correct me if I am wrong
https://www.otcmarkets.com/content/doc/otcqb/standards.pdf
1 Requirements for Admission to OTCQB
1.1 Eligibility Standards
To be considered for admission to OTCQB, a Company shall meet all the following conditions:
1) Audited Financials. Audited annual financial statements must be prepared
12 Retech year-end is Dec 31. IMO we will not get uplisted until the New Year.
Having said that and rained on everyone's parade, as long as 12 Retech actually closes the acquisition of Active Fashion Group our future as shareholders looks bright to me!
Yabba dabba doo!
haha Lululemon (LULU) is a $8 billion market cap company big in the women's leisure wear/athletic/yoga area. Might as well dream big! Seems to me like a logical customer.
I only have a year to go to retirement. Maybe I can pursue another career after. They can pay me in stock. haha
Good luck!
lululemon would make a perfect customer for 12 mirrors. All the girls could take selfies of themselves in the lulu gear and post them on facebook for their friends. One mirror per fitting room!
Yes, I agree. Another when not if situation.
More detailed OTCQB listing requirements
https://www.otcmarkets.com/content/doc/otcqb/standards.pdf
For info purposes only - OTCQB listing requirements:
https://www.otcmarkets.com/services/companies/otcqb/requirements
Eligibility Requirements
U.S. companies must have audited annual financials by a PCAOB auditor. (Regulation A Companies are exempt from the initial requirement)
Minimum bid price of $0.01
Not be in bankruptcy
International companies must be listed on a Qualified Foreign Exchange (or SEC Reporting and submit a Letter of Introduction from an approved OTCQB Sponsor
Reporting Requirements
Meet one of the following Reporting Standards: SEC Reporting Standard
Regulation A Reporting Standard
U.S. Bank Reporting Standard
International Reporting Standard
Alternative Reporting Standard
Timely disclosure of material news
Corporate Governance Requirements (Alternative Reporting only)
Have a board of directors that includes at least two Independent Directors
Have an Audit Committee, a majority of the members of which are Independent Directors
Verification Requirements
Maintain a Verified Company Profile
Post initial and annual OTCQB Certification
For more detailed information on how to qualify for the OTCQB market, please see the OTCQB Standards
haha
Acquisition of Active Fashion Group who has Macy's and Kolh's as customers. Could this lead to leverage to get the 12 system introduced at Macy's and Kohl's? Certainly doesn't hurt to already have a good business relationship with them already!
Our Soybu brand is very popular!, Could we be next lululemon?
https://www.amazon.com/Soybu/pages/3041613011
https://www.macys.com/shop/womens-clothing/womens-activewear/Brand/Soybu?id=29891
https://www.kohls.com/catalog/womens-soybu-active-clothing.jsp?CN=Gender:Womens+Brand:Soybu+Occasion:Active+Department:Clothing
These are just a few results of a google search for "Soybu Clothing"
Good to know.
PS Uplisting is uplifting! haha
I just sent an email off to Tom Nelson asking him if an uplist to the OTCQB is in the future plans of RETC. Don't know if I'll get an answer back or if he will pass the messonge along to Angelo.
Further down the road (3-5 years) dare we even hope for a Nasdaq listing?
From Tom Nelson Oct 12 tweet @StockAlert8
IR contact info investors@12retech.com
Noted.
The jobs aren't listed on either of the 12Retech or 12HongKong websites, so I emailed Angelo to have them update the 12 Retech and Hong Kong Websites.
angelo@12retech.com
Previous post was from 12 Japan site.
https://www.12japan.jp/contact-eng
12 Retech currently hiring...
Recruit and Freelance Inquiries
We are currently looking for software engineers and programmers.
If you are interested, please feel free to contact us for more details.
And he would know. Awesome!
He said announcements, so would expect more than 1! He has been correct every time he said there would be announcements. So I guess its not if but when. He must have heard from management in order to make a statement like that!
IR says other larger announcements coming!@stockalert8 on twitter Tom Nelson.
Take a look, $RETC has big news today. Other larger announcements coming!!
20 wow, I was only expecting 1 or 2. Magic mirrors should give retailers competitive advantage over their competitors. More irons in the fire haha. When this thing pops it will explode! imo
Thanks or the digging. Good find! I'll let you poner what the interest on the debt will do to the acquisition cost. Looks like RETC already has its bankers in place.
You'll have to explain to me what a proforma share exchange would mean in terms of RETC shares issued to AFG. If RETC gives too many shares it would be like AFG acquiring majority interest in RETC. I don't think that was the intent of the acquisition.
Anyways, nothing but positive news the last couple of days and more to come.
OK, thanks. Management must have plans to enhance shareholder value and share price before acquisition closes. If RETC shares are at $.10 and $15 million value for AFG, we would have to issue 150 million shares.
I don't think management plans on having share price that low for the share for share exchange. Hence the share price should be going up.
So looks to me like more yuuuge news is coming!
What ballpark $ value would you put Active Fashion Group at? Sounds like AFG has positive operating cash flow already.
Company must have plans to raise share price if their plans are to make acquisitions by share for share exchanges. More than 2 or 3 acquisitions would be too dilutive if shares issued at current prices.
Yuuge, eh? haha must be something other than the formation of a new subsidiary then. Another acquisition would be nice, or a new customer contracted.
Potential for other acquisitions ... from Recent Events portion of todays news release
12 Technology Corporation - Announcement tomorrow might be about new subsidiary - 12 Technology Corporation
From todays news release - 12 Ad Tech portion:
yup, that's what my chips are betting on haha