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So, to put it all together:
I think it really is this simple:
ARCS put their information on Twitter instead of filing it as "material information" through the Alternative Filing Standard. Once that is corrected, the CE will be gone. Even if it takes 30 days to remove the CE, the current filings will still be viewable by investors who wish to verify.
For Dark or Defunct companies, OTC says: "Pink No Information companies may not be able or willing to provide disclosure to the public markets - either to a regulator, an exchange or OTC Markets Group." This is what ARCS failed to do.
https://www.otcmarkets.com/glossary#dark-or-defunct
Also, from OTC:
Quote:
________________________________________
Current Reporting of Material Corporate Events
Companies are expected to release quickly to the public any news or information regarding corporate events that may be material to the issuer and its securities. Persons with knowledge of such events would be considered to be in possession of material nonpublic information and may not buy or sell the issuer’s securities until or unless such information is made public. If not included in the issuer’s previous public disclosure documents or if any of the following events occur after the publication of such disclosure documents, the issuer shall publicly disclose such events by disseminating a news release within 4 business days following their occurrence and posting such news release through an Integrated Newswire or OTCIQ.
________________________________________
https://www.otcmarkets.com/learn/reporting-standards - see Alternative Reporting Standard, click on OTC Pink Basic Disclosure Guidelines
ACRS missed the 4 days deadline after the tweet, thus the problem. So, all of those trading on the information in the tweet, were "in possession of material nonpublic information," which suggests that OTC thinks the information is legit! Does that sound about right?
Further, on the OTC ARCS homepage it say specifically:
Quote:
________________________________________
Warning! This company may not be making material information publicly available
Buying or selling a security on the basis of material nonpublic material information is prohibited under Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5 and 10b5-1 thereunder. Violators may be subject to civil and criminal penalties.
________________________________________
The dots line up pretty well . . .
Further, on the OTC ARCS homepage it say specifically:
Warning! This company may not be making material information publicly available
Buying or selling a security on the basis of material nonpublic material information is prohibited under Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5 and 10b5-1 thereunder. Violators may be subject to civil and criminal penalties.
Yes. They were placed on CE after trading day ended on Thursday, which was the 4th business day.
Also, from OTC:
Current Reporting of Material Corporate Events
Companies are expected to release quickly to the public any news or information regarding corporate events that may be material to the issuer and its securities. Persons with knowledge of such events would be considered to be in possession of material nonpublic information and may not buy or sell the issuer’s securities until or unless such information is made public. If not included in the issuer’s previous public disclosure documents or if any of the following events occur after the publication of such disclosure documents, the issuer shall publicly disclose such events by disseminating a news release within 4 business days following their occurrence and posting such news release through an Integrated Newswire or OTCIQ.
That's the bottom line.
I think it really is this simple:
ARCS put their information on Twitter instead of filing it as "material information" through the Alternative Filing Standard. Once that is corrected, the CE will be gone. Even if it takes 30 days to remove the CE, the current filings will still be viewable by investors who wish to verify.
For Dark or Defunct companies, OTC says: "Pink No Information companies may not be able or willing to provide disclosure to the public markets - either to a regulator, an exchange or OTC Markets Group." This is what ARCS failed to do.
https://www.otcmarkets.com/glossary#dark-or-defunct
Amen to that. After 2020, we need HOPE! I'm ready for this year and COVID to be GONE!
Definitely "smooth" - I like the age target too!
Knowing that several traders have tens of millions of shares, and it would only take 800 traders holding 1M to make a serious shortage of shares, why not hold, and make them pay more and more and more - sell when YOU are ready to sell, not when their shenanigans persuade you to sell?
There is always smart money waiting for the smoke to clear - they probably stopped the bleeding today at around .0030 and will have a very, very Merry Christmas.
I'm not seeing anything.
Big loaders loading big for the news they expect is coming . . . one very reasonable option.
There is a Mr. Sharp that has the ear of the SEC and they pretty much suspend at his command . . . or so it seems.
I just got off the phone with the OTC. They only update once per day in terms of when the submitted files are approved, but you may see them posted shortly after the company submits them.
I can't tell you that this is going to be alright because I honestly do not have enough facts and the holders of the facts are governmental agencies that have no interest in sharing them (but they will piously intone to you that you need to do your DD before investing - I always ask 'how the hell are we supposed to due true DD when you all have the information we need locked up behind a bunch of regulations?'). However, I "feel" as if there is truth here, based on what I have seen, read, dug into, and researched. NO ONE knows for sure either way, but that is exactly why some are sellers and some are buyers. It's what makes this game so sweet. Few know it, but liquidity depends on uncertainty!
Get your heart out of it, and only use your head. Money is a tool, not a pet. You've made it before, you can make it again! This is FAR from over!
So, if "The Tweet" was accurate, there is a huge company behind this merger, so they should have the $$ to get all of these remedies in place before further damage occurs. Plus, IF it is accurate, all of the positives are still in play, which still means a huge run at some point. Huge, I tell you!
What's the chances that, given the talk on the street of the Feds decriminalizing cannabis, some large private pot producer planned a public market entry via reverse merger with a clean shell?
Pretty high!
Fewer cleaner shells than this one - just needs to get the paperwork in line and filed. Goodbye skull and crossbones and hello Pink Pot Producer!
Well, depending on whom you are talking to, there may or may not be a company to finance anything; however, IF there is a company, and it is the one responsible for the tweet last week, they specifically said they are BUYING shares out of the market and there will be NO dilution, so . . . the law of non-contradiction kicks in right there!
What you are seeing is volatility, and that same volatility works the other way too - what gaps down can gap up also! We've already seen it once.
Good. It will force these bastids to keep up their filings, even if they just want to be a "clean shell."
Rising Stock price? Likely.
It ain't rocket science . . . IF someone is removing hundreds of millions of shares from the float, there will be a consummate reaction at some point. The price WILL go up due to that alone - the problem is the system is rigged to keep us from knowing how many shares are actually available UNTIL a filing, which is normally months apart. I'm not even sure the Market Manipulators know. But at some point, shares are going to get harder and harder to find and the law of supply and demand kicks in. Add to that, going Pink Current and bonafide news of a merger with Big Pot . . . and you could have an epic run far beyond the measly .08 we bumped the other day. I know it's hard to see the forest for the trees right now, but . . . there IS a forest out there with trees that may just start raining Bennies!
He's been on the ask most of the week hiding millions behind 10K size! What a jerk!
Warning! This company may not be making material information publicly available
Buying or selling a security on the basis of material nonpublic material information is prohibited under Section 10(b) of the Securities Exchange Act of 1934 and Rules 10b-5 and 10b5-1 thereunder. Violators may be subject to civil and criminal penalties.
There is a lot to be analyzed here: take a close look:
Cannabis Reverse Merger; the Rise of Arcis Resources Corp (OTCMKTS: ARCS)
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By Dave Young on December 13, 2020 Media & Technology, Micro Cap Insider, Small Caps
Post Views: 3,801
Arcis Resources Corp (OTCMKTS: ARCS) is in full beat mode skyrocketing up the charts out of its triple zero lows well into penny land on a massive surge of volume after the Company gets active on twitter and reports it is getting current on OTCMarkets and executing a merger with one of the biggest companies in the cannabis sector.
Reverse merger (RM) stocks have emerged in recent years as the biggest runners in small caps even more explosive than biotech’s and ARCS has been no exception so far. ARCS is a clean shell with virtually no debt. ARCS states on twitter no RS, cancelling restricted shares and a share buy-back which is significant as the Company has just 715 million free trading shares.
Arcis Resources Corp (OTCMKTS: ARCS) is a clean shell operating out of Denver, Colorado that has been making some big announcements on twitter including getting current and executing a merger with one of the biggest companies in the cannabis sector. More details are going to be released this week according to the Company on twitter.
5/5
After regaining Current status, we will officially announce a merger with one of the biggest companies in the cannabis sector.
We have worked hard to make it happen.
Our action will prove to our shareholders and everyone else how to bring real shareholder value.
— Arcis Resources Corporation (@ResourcesArcis) December 11, 2020
ARCS stated on twitter: Dear shareholders, We’ve received dozens of emails regarding our ongoing operation. As of this moment, we decided to make twitter our formal way of communication. In the next tweets, we will address all the questions asked by you. We will never wipe out our shareholders through a reverse split. Our mission is to increase shareholder value tremendously and not the opposite. Restricted shares will be retired. We are in the process of purchasing shares out of the retail market. Shares will be assigned to a new class of preferred shares and locked out of the market. An official statement will come out at the end of the process. No dilution taking place. And it will not happen in the future. We are awaiting to receive OTCIQ access to upload filings and bring the company back to Current status. Early next week, we will release a shareholders letter. Explaining our goals and what we have achieved so far. After regaining Current status, we will officially announce a merger with one of the biggest companies in the cannabis sector. We have worked hard to make it happen. Our action will prove to our shareholders and everyone else how to bring real shareholder value.
Just for grins, I emailed OTC to see why they placed the CE. I'm not holding my breath for any valuable information.
You all should know if you don't that OTC Markets (www.otcmarkets.com)is a private company with NO regulative authority. NONE. They can be bought and sold just like cheap wine on Friday night . . .
You will never get an answer to that question. Only the OTC people know, and it would cost you more than you might make or lose here to find out.
Take a walk, go for a jog, watch some New Girl, read a book ... get your mind off the post-explosion dust and wait for the winds of truth to clear the air. You made a good choice on good DD, right? So we have a hiccup . . . every storm runs out of rain. The sun hasn't gone anywhere. There are motives everywhere. Who knows why what happens when it does??? God.
OCMillionaire,
You posted your holdings (and thus your loss). Once the dust settles, I'll be proud to help you hold some of the much-reduced float in this stock. Can't help but think that if they are buying back, they gotta be buying back now (the tweet said "are buying") so this is a sweet deal if they haven't maxed out.
Right after the explosion, there is always a lot of dust and disorientation, but once it clears, we can see what the damage is. Some bombs are mostly noise - FBGs.
Some of you gals are much smarter than me. Am I seeing this correctly? It looks like whatever was dumped this morning was snatched up quicker than hot biscuits on a cold morning.
Picked up some .0053s . . . now, let the show go on, and oh, what a show it is!
What we know for sure:
1. OTC markets (for some as-yet-unrevealed reason) placed the caveat emptor (Latin: "buyer beware") on the company's home page.
2. The Twitter account for the company along with the 5-part tweet about "things to come" has been removed or deactivated.
3. The home page for the company is still showing "under construction - bringing you the good stuff"
We we think is happening:
1. The company is waiting for access to the OTCIQ to upload the filings to bring the company Pink Current. This involves the following:
Companies will be processed for Current Information once all required documentation has been submitted:
Financial Statements: Two most recent Annual reports and any subsequent Quarterly Report
Disclosure Statement: Most recent Annual and any subsequent Quarterly Reports
Attorney Letter covering all relevant information for non-audited companies
The Company Profile has been verified through OTCIQ
It looks like ARCS is going to be one for the record books in multiple ways. Most consecutive gap-downs after huge run-up and most millionaires made following filings, updates, and merger. Oh, well, you can't win them all . . .
This is better than the Olympics! Yes, I just checked my account - showing down 797%! Now THAT'S a head game . . . bring it, MMs. I've seen worse . . .
On the website once operational. Maybe to SEC or OTC disclosures.
That right there is funny!
Well, with as much as you posted you already have, hopefully all you will need to do is sell!
We don't need the shareholder letter tonight or tomorrow. We need the filings updated to OTC ASAP! Then, update the website and post the shareholder letter. Then, pick your favorite island resort.
CE has nothing to do with the shareholder letter. Only filings will clear that . . .