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Yea no worries! Gotta say I learned a ton about the uplisting process, Form definitions, and SEC requirements.
Was fun to build up!
Also it should be enough to keep bashers away saying that these 8Ks are worthless.
$SRNW
That it is! Thanks for that GFK
Hey anyone have an idea of what this means?
It wasn't on the $SRNW 8K. Never seen "Restraining Order" on an 8K before lol:
https://www.sec.gov/Archives/edgar/data/1528188/000149315221022232/form8-k.htm
OTC Classification - Requirement Breakdown:
Morning Everyone! Thought I would make this breakdown as the differences in the various OTC Listings, and the statuses within those categories, is somewhat confusing. It also discusses how the Forms are defined. Happy reading!
1) OTCQX:
- OTCQX International Premier
- OTCQX International
Although both have higher standards than OTCQB, the company must be dual-listed on a foreign exchange, incorporated Outside
of the USA, and not be a penny stock.
Here is the Min requirements as per OTCMarkets: https://www.otcmarkets.com/corporate-services/get-started/otcqx-international
To complete all requirements, here is a Securities Lawfirms breakdown of the requirement (more details than OTCMarkets):
http://www.legalandcompliance.com/securities-law/otc-market-compliance/otc-markets-listing-requirements/otcqx-listing-requirements/
2) OTCQB:
OTCMarkets Requirements:
https://www.otcmarkets.com/corporate-services/get-started/otcqb
- As seen in GS' statements, once filed $SRNW could uplist to OTCQB
Further breakdown of OTCQB Requirements:
http://www.legalandcompliance.com/securities-law/otc-market-compliance/otc-markets-listing-requirements/otcqb-listing-requirements/
3) OTC Pink:
- Pink Current Information
- Pink Limited Information
- Pink No Information (File Previous Form-15)
Any current SEC-Reporting company on a US-Listing or Foreign companies on qualified stock exchanges automatically qualify.
To Initially File for Pink Current:
- For non-reporting OTC members, Company must subscribe to "OTC Markets Disclosure and News Service"
- Publicly file an "Information and Disclosure Statement", signed by the company's SEC Attorney.
For the September.28th Deadline:
- OTCMarkets Pink-Current Standards based off the Rule15c2-11 Securities Exchange Act ("SEA")
- Company could also become Pink Current through 10b-5 SEA, Rule 144 of the Securities Act or Blue Sky Laws.
- ***Note: I have not researched these requirements yet***
Required Steps:
3.1) Sign up for OTC Disclosure and News Service ("OTC Markets Access")
3.2) Upload the Following OTCIQ Documents:
- Quarterlys (Form 10-Q) for Current Fiscal Year.
- Annual Report (Form 10-K) for Most Recently Completed Year.
- Annual Report for Prior Completed Year.
The 3 Above should include:
- Disclosure Statements = A summary stating what the Transaction is on the Report.
- Financial Statements = Balance Sheet, Statement of Income, Statement of Cash Flows
* Can be GAAP or IFRS standard, doesn't have to be audited.
- Statement of Retained Earnings (Stockholder Equity)
- Notes to Financial Statements
- Audit Letter (If Audited)
3.3) OTCIQ Verified Profile. Done by Registering account and verifying all Directors to be true.
3.4) Time for OTC Markets to process any uploaded documents (3-5business days)
3.5) New Attorney Letter (Recommended). No official Form but there are standardized templates on OTCMarkets.
3.6) To Remain current, regularly upload:
- Quarterlys, Annuals, and Attory Letter.
- Every 6months, verify the Companies Profile.
3.7) For Material Events (Form 8ks):
- While not needed to be OTC Pink Current, and if not put in the above disclosure documents, Company must disclose within 4business days the event.
- Frivalous 8ks, especially with the attention on GS and the September.28th deadline, are fraudulent and could ruin ones reputation.
- The OTCMarkets Pink-Current Word Document has a list of examples of Material events and the standardized form to be complete.
While previous 2011 Management did File a Form-15 to become deactive, The intended SEC filings supersede requirements for OTC-Pink Current or Limited. I will post more details on this in my next post.
As for the 8K, it is not worthless as for Pink-Limited or Pink-Current Standards, Material Events are supposed to be released within 4business Days. George released that 8K to further establish credibility within the Pink-Current Reporting Standards. Stating Material Information that is incorrect or a lie, especially with the September.28th changes and all the attention on GS, is criminal. No way GS would risk his reputation on fraudulent statements!
Also a Form-8K can be filed by any of the 3 OTC-Pink statuses (Current, Limited or Non-Reporting).
That Form-8K only helps us establish further credibility in becoming the minimum standard of Pink-Current!
great find!
And only 22,000 shares took this from 82 to 92 this afternoon! Completely laughable!
We will sitting rich with $SRNW
Repost from Twitter ~20mins ago:
Crazy that selloffs, largely caused by Broker deadline cutoffs, is causing this.
Before you get spooked into selling shares, check the volume causing this:
$GVSI = 14.5m
$GOFF = 1.51m
$SRNW = 40k
A single whale could do this. People are still #Hodling strong!!!
Morning Everyone.
Lots of Flippers panic selling but all you have to do is look at volume. The most recent move from the mid 80s to the 60s was caused by less than 2,000shares traded!
That is a complete joke! The last two weeks we saw how thin it was going up, and now we are seeing how tightly people are holding on the way down. This will rebound for sure!
Morning Everyone!
With the looming TDA deadline, what do you think will happen?
1) People dump to lock in profits before the cutoff?
2) People accumulate to hold until current, when it will then take off!
$SRNW
Thanks for the shoutout!
Interesting to see GS issue himself 300k Preferred shares!
https://sec.report/Document/0001493152-21-021658/
Closing $SRNW on a daily, and (all time?) high of $0.93!
$GOFF also closing at the daily high of $0.238.
$GVSI also did well too....
Crazy how these are ALL still holding levels, with minimal volume. EVERYONE in these stocks are accumulating all they can before higher prices on news!
Yes Agreed! Watching this just under $1.00 causes the anticipation to become torturous!
$10+ $SRNW is not out the question with any sort of buying pressure. If we get some of those whales who hold 10m+ $GVSI to roll even a fraction of that money into $SRNW, we can see triple digit returns in a single day!
As much as I want to know the Merger Candidate, I don't see him announcing before being Pink Current.
Why? Because if for some reason $SRNW was not granted pink current, than there is risk this ticker could be swept to the Grey Sheets. Even $SRNW was able to apply for the Reverse-Merger status, this 1st round denial would kill the pump. I don't doubt that he can get current, but this is still a reality.
For that, I can't see him announcing early
yes i agree! We will be laughing at shares under a $1 price here
$SRNW
oof you know that does look like a fake account.
- No retweet from GS
- No tweet stating "this is the official twitter feed for $SRNW" or "This is the new Twitter feed for $GOFF".
Unless new evidence arises, I can't believe that this is legit.
is there some GVSI Website that was released?
Saw it floating around this morning but can't find it now..
and today it is crickets... with 17k shares so far, people are holding this tight!
$SRNW
You can buy OTC on Robinhood?
Im in Canuck-istan so we use Wealthsimple
$SRNW
Oh yea that would be awesome! Perfect way to reward TRUE long-term believers!
Yes I am so surprised! Thanks MBADude!
Wish I loaded some more $SRNW in the early days, especially when I saw it in the low $0.20s! Oh well. Live and learn.
Still glad I could do some DD and get some shares. Hopefully, it also helped potential share holders and reconfirmed the positions of existing Share holders!
GLTA and everyone, enjoy your weekend! Maybe we will blessed with news :)
Yes I am hoping for that as well!
PART 3: Suspected Current Ownership:
Since Ilya Golubovich was named as a Promissory Note Holder under I2BF Limited, he was connected to $SRNW. If we look at his current LinkedIn page, we can find that he is still the CEO of "I2BF Global Ventures".
https://www.linkedin.com/in/ilya-golubovich-7967353/
If you scroll down the page, you can see he found I2BF Global Ventures in 2007. Although when the name change from "I2BF Limited" to "I2BF Global Ventures" is unknown, since it is the same company name then and now, and the same co-founder, there is no doubt I2BF was heavily involved in the 2008-2010 financing of $SRNW.
I2BF's Current Holdings:
If we look under I2BF's current holdings, there is no mention of Stratos Renewables Corp .
https://www.i2bf.com/portfolio/
If I2BF had ~10m in Promissory Notes, and ~110m Common shares, why would they not list them as an active asset? Or if there was involvement with George Sharp, why wouldn't there be any annoucements with that either? I AM CONVINCED THESE SHARES AND NOTES ARE CANCELLED.
I cannot see what other reason a company would not list 40.1% ownership of a company, or ~$70.5m worth of equity given an August.26,2021 $176m Market cap. With total assets under management being ~400m, that would be ~17.6% of the Fund's investment; a sizeable chunk.
Does anyone understand the Preferred Share Conversion Process?
Reading through this filing, I found this statement on how Preferred shares can be converted, but I find the wording confusing:
In April 2008 a "Grey KLP" held 1,428,572 Preferred shares:
https://www.otcmarkets.com/filing/html?id=6252170&guid=NcS1kHuCxwqkj3h
(Search "Grey" on the page and you will find it)
Since in later filings Grey-KLP's Note holdings "disappear" (couldn't find them anywhere after 2008), this will be key to understanding if more common shares exist!
well they had a plan for more shares, as shown in this schedule of Anticipated Closing:
Milestones:
But since $SRNW delisted, who knows if they hit these milestones? The 885k was closed (found in previous links). Since $SRNW was delisted, if they did (or did not) hit those milestones, we wouldn't know! That is one concern I have for this play, there could be some huge Common-Share Note Holder sitting out there but we don't know it.
Unfortunately, for cancelling shares, as per GS' tweets today, it isn't black and white. There can be a Note-Holder who converts illegally, previous debt holders who convert etc.
But with GS, and how tightly this is trading, those restricted shares must be sorted! I am long $SRNW but also am transparent with findings
SRNW Funny History:
Not sure if others have seen this, but the reason for $SRNW's original management's reason for delisting is hilarious.
"These filings take too much time so we cannot focus on expansion plans" LOOOOL. These guys were full of it!
Article Title at the bottom this PR:
https://www.otcmarkets.com/filing/html?id=7127225&guid=NcS1kHuCxwqkj3h
Read my Part 1, 2 & 2B!!!
That is a starting point
yes it is exciting times!
That and if there isn't a major share restructure, I will look and feel like an utter fool LOOL
No fun in keeping it quiet!
Let the games begin :)
Thank you sir!
I realized that there is some stuff I left out, such as:
- Grey KLP's ownership of Preferred Shares
- The process of converting Preferred to Common (I did not understand the process stated in the filings)
- The time period from March 2010 to June 2021... What could've happened?
Amongst more. Not the prettiest shell but if GS can cancel the shares as described (or even a portion), then this will go $10+! No doubt in my mind there :)
Thanks Nvidiaforgames! Hopefully it clarifies what is going on
No worries Goose Face Killa!!!
Yes glad to help out. It is not perfect, but I wanted those who are in $SRNW to help understand what they are buying!
PART 2B) Share Ownership Summary:
A condensed post of common shares owned as per latest reportings.
I2BF:
101,164,273
Blue Day:
48,189,333
MA Green LLC:
22,852,466
SGM Capital LLC:
6,768,018
Former Corporate Ownership:
Steven Magami:
29,620,484
Stephen L Norris:
2,218,971
Thomas Charles Snyder:
4,858,350
Pai Sanjay:
1,218,971
Leonard Brooks:
531,816
Valerie A Broadbent:
200,000
Unknown Actors:
Luis Humberto Goyzueta
20,610,580
Jose Nicanor Gonzales
- Director (June 2008).
- UNKNOWN IF HOLDING SHARES.
Luis de Las Cases
- Vice President (June 2008).
- UNKNOWN IF HOLDING SHARES.
Ceasar Alonso
- Pops up as an Investor on older PRs...
- Unknown relation to $SRNW, or if holding shares.
Only Looking at former Note Holders, we have: 178,974,090 Common shares.
Including Former Management, this BALLOONS to 217,622,682 common shares. I do not know how Luis's ~20m shares play into this...
THIS IS WHY I THINK WE ARE SO THIN.
If George can claim all of Former Management's Shares, that will take 38,648,592 common shares out of circulation!!
AND IF George can proove that the Note Holders:
1) Illegally converted notes to common shares.
2) The Notes went into default (because of Corporate abondonment)
3) The Notes are forgiven (for not making payments for years)
Then it is POSSIBLE THESE 178 MILLION shares can also be cancelled!
Given OTCMarkets 235,176,673 shares outstanding, this would leave us with 17,553,991 Common Shares outstanding.
OTCMarkets: https://www.otcmarkets.com/stock/SRNW/security
I was blind before I realized this. $SRNW IS HANDS DOWN THE BEST GEORGE SHARP PLAY!!!!!!
SRNW DD PACKAGE - PART 2:
If you are reading this board, I am assuming you are fully committed to the potential in $SRNW, but have some concerns about its past. Hopefully tonight's post will quel your decision to purchase this stock
Part 2: The Share Structure.
Between mid 2009 to March 2010, new corporate members, Promissory Note Holders, and shares were issued. Here is breakdown of the players:
2. A) Enter I2BF: A Major Influence.
Also known as "I2BF Venture Capital", this LLC was jointly ran by Andrey Lisyanksy and Ilya Golubovich. It was Incorporated in Delaware with a Head office in London, Satellite office in Paolo Alto, and all accounts payable to a Lithuanian Bank account through the British Virgin Islands.
As of March.10,2010, I2BF held 101,164,273 common shares, or 40.5% of common shares, and held $585,077 in Promissory Notes:
https://www.otcmarkets.com/filing/html?id=7184368&guid=NcS1kHuCxwqkj3h
2.B) Blue Day Limited: Another Note Holder.
A subsidary of "Blue Day SC Ventures", and managed by Investment Banker Joseph El-Khouri (Direct Investment into $SRNW remains unknown), they were $SRNW second largest note holder.
As seen on this March.4,2009 PR, Blue-Day held $300,000 in promissory notes and 48,189,33shares.
Between I2BF and Blue-Day, they held 71% of all common shares:
https://www.otcmarkets.com/filing/html?id=7184368&guid=NcS1kHuCxwqkj3h
2. C) Former Management's Corporate Ownership:
As stated in Part 1, Steven Migami was the CEO of $SRWN from March to June 2009. Steven was also the CEO of both "MA Green LLC" and "SGM Capital LLC":
https://www.otcmarkets.com/filing/html?id=6721639&guid=NcS1kHuCxwqkj3h
MA-Green's LLC Share Ownership:
MA-Green Originally held ~7m preferrered shares, but converted them to 22,023,385 Common shares.
SGM Capital LLC:
6,768,018 common shares, or ~5.614% of All Shares outstanding.
2. D) All Former Management:
Going from Mid-2009 to March-2010, here are the breakdowns of shares owned by former management. All Dates listed are the dates of the Form-3s and the Form-4s:
Steven Magami; Former CEO & Board Director - 29,620,484 common shares
- July.15,2009.
https://www.otcmarkets.com/filing/html?id=6711779&guid=NcS1kHuCxwqkj3h
Stephen Norris; former director - 2,218,971 common shares.
- Nov.24, 2009.
https://www.otcmarkets.com/filing/html?id=6924905&guid=NcS1kHuCxwqkj3h
Thomas Charles Snyder; former director & CEO - 4,828,350 common shares.
- Shares purchased through "Manages Fast Track Investments LLC").
- Nov.24, 2009.
https://www.otcmarkets.com/filing/html?id=6924937&guid=NcS1kHuCxwqkj3h
Pai Sanjay; former Chief Strategy Officer - 1,218,971 common shares
- Nov.24, 2009
https://www.otcmarkets.com/filing/html?id=6924887&guid=NcS1kHuCxwqkj3h
Leonard Brooks; Former Direcotr 531,816 common shares.
- July.31,2009
https://www.otcmarkets.com/filing/html?id=6967502&guid=NcS1kHuCxwqkj3h
Luis Humberto Goyzueta; 10% Share holder 20,610,580 common shares.
- June.6,2008
- NOTE: Not Sure WHO this investor was. Couldn't find info on him but here is a Form-4....
https://www.otcmarkets.com/filing/html?id=6219016&guid=NcS1kHuCxwqkj3h
Valerie A Broadbent; SRNW Secretary 200,000common shares
- June.5, 2008
- Owned Indirectly through "Berkely Consulting Group, LLC"
https://www.otcmarkets.com/filing/html?id=6203782&guid=NcS1kHuCxwqkj3h
yup! Hope my part 2 really causes this to go off...
$SRNW
even trying to buy a few thousand shares is next to impossible!
if asks are getting slapped here, I can only imagine what will happen when $SRNW news is released!
I agree! Crazy how little volume is here...
Exactly! And those holding entities either:
- can't be found anymore
- Don't list $SRNW as an investment.
But anyways the reason I said Money Laundering is that I believe the shares issued was a way for those Note Holders to dictate how the cash was spent. Combined with the March 2011 delisting and I think they just gutted the company to those BVI accounts
I have a strong suspicion the actual float is 80-90% lower than the actual numbers posted. More to come.
Only wish i did this research earlier!
yes the rabbit hole goes deep... and Don't worry, I will not ruin all the surprises!
PS:
Did you ever get the impression that $SRNW was involved with money laundering? I had a suspicion that the shares held by certain note holders, with their interest payable to British Virgil Island bank accounts quite suspicious...
Almost like the shares were used to conceal how money is transferred to and from $SRNW.
SRNW DD PACKAGE - Part 1:
Hello everyone, over the past few weeks, I decided to do a deep dive into the illustrious history of $SRNW. As noted by this Mornings tweet, many questions should be clarified within the next 5-10days. Hopefully some of this DD will help clarify how monumental $SRNW can be NOW. Please keep in mind that many news filings that would clarify the unknowns were never released, and as such therte are still some "Skeletons in the closet".
Part 1: The $SRNW backstory:
Going back to March 2008, $SRNW was a Peruvian sugar company looking to harvest sugar at discounted prices. A Steven Magami (more on him later) was elected president of $SRNW:
Steven's Election:
https://www.otcmarkets.com/filing/html?id=5800618&guid=NcS1kHuCxwqkj3h
To expand on these operations, $SRNW began issuing shares. These shares and warrants were issued to a "Grey KLP", a Cayman Island company that was issued 1,428,572 Preferred shares:
https://www.otcmarkets.com/filing/html?id=5879927&guid=NcS1kHuCxwqkj3h
At the time of issuance, the only other holder of Preferred Shares was "MA Green", who owned 7,142,857 preferrerd shares. This was a LLC owned by the recently elected Steven Magami:
Noted later in that link, one preferred share could be converted into the "Preferred share price ($0.70) divided by 1.5x the Security offering price ($0.001 * 1.5 = $0.0015). This would mean that each preferred share could be converted into 467common shares ($0.70 / $0.0015).
NOTE: I was not 100% sure on this wording:
Steven's Presidential Resignation:
https://www.otcmarkets.com/filing/html?id=5987943&guid=NcS1kHuCxwqkj3h
Just 3months later, Steven resigns as President of $SRNW but is retained as a Director. Interestingly, he is still in possession of all his preferred shares (maybe he had converted, but i couldn't find that filing).
In his replacement, a director named "Tom Snyder" is appointed President. Other notiable board members are elected such as:
Stephen Norris,
Luis de las Casas and
Jose Gonazles
(More on these Directors later.)
First round of Note Conversions:
In addition to the previously mentioned April.18, 2008, $1m loan from Grey-KLP, there was $3,048,000 of previous Notes outstanding.
- 1,434,730 common shares were issued as part of the payment.
- NOTE: Payment to which note holder was NOT Clarified.
To be continued...