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If it takes round 2 or 3 it doesn't matter to me. I have been around for just about 2 years and can wait on it.
I am not getting discouraged. I know that it will get done.
Form 211 Update:
After ALOT of digging and phone calls I was finally able to speak with the person at Glendale Securities who is handling the Form 211 for SOLI.
Here is what I know:
- He has been handling 211's for over 12 years.
- Has processed approximately 1000 211's in that 12 years.
- EVERY 211 he has submitted has been accepted.
- He always screens the company thoroughly first before sponsoring that company. That is why the 100% success rate.
- The 211 process takes at least month and could take up to a year to complete.
- About 30% of 211's are accepted after the first round of questions from FINRA.(only one 211 has ever been accepted without questions).
- About 70% of the 211's go to at least round two of questions.
- With each round of questions, FINRA's response time is usually shorter (it makes sense that it takes FINRA the most amount of time to review the initial package and submit questions. And then it is quicker to review the answers and get back if there are follow-on questions).
- It is much better if a company is fully audited ( like SOLI ).
- So far FINRA has submitted a first round of questions and Glendale has replied with answers to those questions (replied on 9/10/2019).
- Overall, he was not surprised with the types questions from FRINA and was not alarmed with any of them.
- Glendale is waiting to hear back from FINRA on if there are any follow-up questions ( expect an answer anytime...usually about 2 weeks but FINRA processes things at their own pace with no hard guidelines).
- Once the 211 is accepted, they notify Glendale and we will see a bid on level 2 (and probably an ASK, but we could just see a bid to start). The tier change is a totally separate process with OTC Markets and once accepted, FINRA alerts OTC Markets but we could just see L2 before a tier change.
- Currently we don't see Glendale on the report that lists MM trading volume on SOLI because Glendale doesn't trade Grey Market tickers.
Overall, the person I spoke with was VERY positive.
As expected from top notch management.
SOLI share structure updated on OTC Markets
Share Structure
Market Cap Market Cap
26,989,141
09/24/2019
Authorized Shares
300,000,000
09/24/2019
Outstanding Shares
103,804,390
09/24/2019
Restricted
67,323,890
09/24/2019
Unrestricted
36,480,500
09/24/2019
Held at DTC
34,422,550
09/24/2019
Float
I totally agree. And posting facts about the company and what is taking place (or not taking place) isn't pumping.
Where in the filings (not forms) do you see they are selling shares?
Is this more incorrect information?
Call and ask for Jennifer. She is responsible for sending the files to OTC to update all the tickers they handle. She can tell you when OTC will be updated again.
They only accept emails. I have emailed them many times to get the sharestructure.
stc@stctransfer.com
Totally incorrect. They are not gagged.
Provide facts on how SOLI is a scam.
Provide facts on how "seasoned scam artists are running this ticker".
Agreed! And I'm still holding $.001s
I consider it an "UPLIST" regardless of what you consider it ( and I will continue to call it an UPLIST as everyone should). Going from Greys to Pink is moving "UP" a tier. So they are moving up the list, hence uplisting.
Did you read the facts?
It wasn't fraudulent. It clearly says:
"The panel found that Enforcement failed to prove that Glendale Securities' President and head trader Castillo (CRD #1936486) engaged in fraudulent activities"
Do you see the word "FAILED"?
I like to separate what is posted here v.s. what the company says in filing, 8Ks etc.
In April the company said it is working on getting a sponsoring MM. The last Q stated that a form 211 was filed in July ( we know that it was at the end of July).
It has only be around 60 days since the 211 was filed. We all want a tier change yesterday. If you can't wait, probably need to move on. If you can wait I believe you will benefit greatly.
I just came across this on NRPI:
http://www.thestreetnow.com/spotlight/nrpi/
It just got reinstated
DTGoody,
sorry to hear about your kidney stone. Unfortunately I know all about them. I have had 15 and passed some pretty easy and a few I almost passed out because of the pain. My last one in early spring was 16mm x 6mm and they had to install a stint and go up there an laser it.
I hope you feel better soon.
Overall I agree with your post. Last week I posted the following:
was16 Member Level Friday, 09/13/19 07:21:43 AM
Re: None 0
Post #
28032
of 28473
SOLI v.s. TDOC
If you use the same revenue to share price that TDOC has, SOLI should be at $.3525 right now.
TDOC lost $.41 per share last Q, SOLI lost $.0022 per share.
Exactly! We know what we own here.
Where in the Q do you see they sold share?
Again you are posting false information.
From the Q there are 3 types of revenue:
Product Sales: Clinical and Herbal Innovations sells its Panoxolâ„¢ branded products through third party outlets such as Amazon and through on-line sales through TSYS. Orders are received and payment is collected through the third-party systems and product is shipped on notice to Clinical from the third-party operators. Sales proceeds are transmitted to Clinical from the third-party marketing groups after their fees and charges are collected. Revenue is recognized by Clinical on shipment of the product to the customers. The full sales price is recognized as income and the fees and charges of the third-party selling groups are charged as a cost of sales. Product sales represent revenue from the sale of products and related shipping fees where the Company is the seller of record. Product sales and shipping revenues are recorded when the products are shipped and title passes to customers. Since all of the sales are on-line sales, collected through third parties, the Company does not invoice customers; rather, product is shipped and matched with the revenue payments received from the third parties. Product sales for the three and six months ended June 30, 2019 totaled $2,969 and $7,320.
SaaS: The CareClix software system is used by certain third-party customers to service their telemedicine clients under written service agreements with CareClix, Inc. Those clients generally pay a co-pay at the time of service, in most cases by credit card, and those co-pay fees are transmitted to CareClix, Inc. through STRIPE, a card processing service, as part of the third-party service agreement. That revenue is recognized as received. On a monthly basis, the balance of the client fees are billed and the invoice is charged to service revenue immediately. The identity of the client, the related performance obligations, the various transaction prices for different levels and frequency of use are all determined by the individual service agreements with each client, and the CareClix software maintains all of the details of the price, performance, frequency and billing under each contract. The co-pay fees are received after the completion of the service provided to the telemedicine client by the CareClix customer and the balance due for those services is billed monthly in arrears by CareClix. SaaS revenues for the three and six months ended June 30, 2019 totaled approximately $132,000 and $132,000.
Telemedicine Revenues: Other customers of CareClix use the CareClix telemedicine platform directly to service their clients or members and the CareClix software maintains the record of the number of consultations and other work performed for the customer’s clients, using the CareClix contracted medical doctors, and CareClix bills the customer
F-9
Table of Contents
monthly for all services provided during the month, in accordance with the written agreement between CareClix and the customer. That revenue is recognized as income at the time it is invoiced since it is for services already rendered during the month of billing. Telemedicine revenues for the three and six months ended June 30, 2019 totaled approximately $308,000 and $308,000.
Approximately 40 percent of the Company revenues for the three and six months ended June 30, 2019 were derived from one customer.
Since the CareClix, Inc. telemedicine operation commenced in mid-April, 2019, the accounts receivable of the subsidiary are less than 75 days old and there do not appear to be any uncollectible accounts as of June 30, 2019, or to the date of this report. Accordingly, no allowance for bad debts has been established and will not be established until the subsidiary has more experience with its receivables collections.
You are posting false information.
The Q clearly shows $438,842 in revenue.
Since you are quoting from the Q, did you see how much revenue was posted last quarter? $438,842
Yeah I think that everyone is aware of how quick the revenue could grow here being in one of the hottest sectors.
How can you possibly say only 5-6 people own this?
And there is no pumping by the company. All communication is thru professional channels...8Ks, Q's, etc.
The reply that rstar posted from Josh Flood says it all about how they communicate:
Quote:
Josh Flood
Sep 12, 2019, 7:35 PM (13 hours ago)
to me
Our filings were posted to the SEC this afternoon. We appreciate your support as a shareholder. All shareholder communication will take place through online filings and press releases. Thank you for reaching out.
Kind regards,
Josh Flood
Excellent post!
Once again it shows that the company informed us thru 8Ks about the issue on getting the Q out and followed thru in getting the accounting correct.
Full transparency.
That's 100% correct. SOLI has done EVERYTHING by the book. Yes they took extra time on getting the 10Q out but needed to get the accounting correct.
It was said that SOLI:
-won't get the money needed to acquire CareClix
-won't win the lawsuit and reduce the share count by 12.6 million
-won't get a Market Maker to sponsor it and file a form 211
-won't release the 10Q
The company completed all those tasks. It will now get the form 211 accepted, get uplisted, grow the revenue, acquire other companies, compete with TDOC, and more.
Pieces from recent posts:
-post 27764: You can post a speculation that these disclosures to the public will be "coming soon" a hundred more times as well, but in reality there are no pro forma financials filed for the acquisition of CareClix nor the required quarterly report for that matter.
Well the 10Q did come out soon and the company took the time to do it right.
-post 27754: Produce the federally required disclosures and proof of said "facts".,
The company did file the 10Q and more proof of CareClix acquisition.
-post 27485: So they don't know what the hell they are doing, even though this acquisition supposedly happened in April.
Looks like another case of "let's make it up as we bumbled along and let the spin doctors pacify the masses".
Nothing was made up. The 10Q shows the acquisition was done in April and the company is performing as expected.
Pieces from recent posts:
-post 2721: here isnt a market maker(Form211) yet for this garbage ticker
Wrong! As many of us have been posting for weeks that it was confirmed by FINRA and now is confirmed in yesterday's 10 Q. We know who the MM is: Glendale Securities.
-post 27076: The 10Q for the period ending March 31st issued on May 20th discussed this very topic of accounting for the acquisition(page 14 subsequent events).
4 months later and they still cant figure it out?
Something isnt right!
Everything is fine! The company took the time to get the accounting correct and the Q came out as expected.
SOLI v.s. TDOC
If you use the same revenue to share price that TDOC has, SOLI should be at $.3525 right now.
TDOC lost $.41 per share last Q, SOLI lost $.0022 per share.
Once again, it has nothing to do with Glendale Securities filing the form 211.
You are barking up the wrong tree.
what Wilson-Davis was sanctioned for has nothing to do with Glendale Securities.
You do make this stuff up!
If you read the article you know IT HAS NOTHING TO DO WITH THE FORM 211.
DON'T TRY TO MISLEAD OTHERS.
From the article:
FINRA sanctioned Glendale Securities, Inc. and brokers George Alberto Castillo, Paul Eric Flesche, and Albert Raymond Laubenstein of the firm's Sherman Oaks, California branch, and Huanwei Huang of the firm's New York office for anti-money laundering (AML) failures relating to the liquidation of low-priced speculative penny stocks in customer accounts.
According to the findings, Glendale Securities improperly transacted the penny stocks Broke Out, Inc. (BRKO), NuGene International, Inc. (NUGN), and Vitaxel Group Limited (VXEL). The original complaint charged Glendale Securities with engaging in the unlawful resale of 482,377 shares of restricted securities into the public market.
I do like the section on streams of revenue. You can really see how they will grow the company.
SaaS: The CareClix software system is used by certain third-party customers to service their telemedicine clients under written service agreements with CareClix, Inc. Those clients generally pay a co-pay at the time of service, in most cases by credit card, and those co-pay fees are transmitted to CareClix, Inc. through STRIPE, a card processing service, as part of the third-party service agreement. That revenue is recognized as received. On a monthly basis, the balance of the client fees are billed and the invoice is charged to service revenue immediately. The identity of the client, the related performance obligations, the various transaction prices for different levels and frequency of use are all determined by the individual service agreements with each client, and the CareClix software maintains all of the details of the price, performance, frequency and billing under each contract. The co-pay fees are received after the completion of the service provided to the telemedicine client by the CareClix customer and the balance due for those services is billed monthly in arrears by CareClix. SaaS revenues for the three and six months ended June 30, 2019 totaled approximately $132,000 and $132,000.
Telemedicine Revenues: Other customers of CareClix use the CareClix telemedicine platform directly to service their clients or members and the CareClix software maintains the record of the number of consultations and other work performed for the customer’s clients, using the CareClix contracted medical doctors, and CareClix bills the customer
monthly for all services provided during the month, in accordance with the written agreement between CareClix and the customer. That revenue is recognized as income at the time it is invoiced since it is for services already rendered during the month of billing. Telemedicine revenues for the three and six months ended June 30, 2019 totaled approximately $308,000 and $308,000.
Approximately 40 percent of the Company revenues for the three and six months ended June 30, 2019 were derived from one customer.
Since the CareClix, Inc. telemedicine operation commenced in mid-April, 2019, the accounts receivable of the subsidiary are less than 75 days old and there do not appear to be any uncollectible accounts as of June 30, 2019, or to the date of this report. Accordingly, no allowance for bad debts has been established and will not be established until the subsidiary has more experience with its receivables collections.
We all know that the form 211 was submitted at the end of July and is still being work on and is currently in "open" status with FINRA.