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I have no idea. My guess is that all criteria were satisfied with the filings and now finra is reviewing them. No clue as to what is taking this long.
FINRA could be behind. Egoc could be amending. Egoc might have missed something and were found deficient. If so, perhaps they ate correcting the issue or filed an appeal.
"The subcommittee convenes once each calendar month to consider all appeals received during the prior month and renders a determination within three business days following the day the appeal is considered. The subcommittee’s determination constitutes final FINRA action."
Here is where the rubber meets the road and why I will begin to worry in March with 2Q around the corner. .
FAQs
8. How will I know if my Company-Related Action was processed or found deficient?
FINRA will provide a written notice to the requesting party setting forth the outcome of FINRA’s review. In addition, if FINRA determines that the request will not be processed pursuant to FINRA Rule 6490(d)(3), the written notice will state the specific factor(s) that caused the request to be deemed deficient.
9. Is a FINRA Rule 6490 Company-Related Action deficiency determination a matter of public record?
No. FINRA does not publicly announce deficiency determinations relating to a Company-Related Action.
An issuer generally is required to notify FINRA of an SEA Rule 10b-17 Action no later than 10 days prior to the record date involved (please see SEA Rule 10b-17 for additional information). An issuer is required to notify FINRA of an Other Company-Related Action no later than 10 calendar days prior to the effective date of the Company-Related Action.
To my understanding the act of filing for a name change with FINRA satisfied the criteria, but FINRA has not completed their process.
Or am I misunderstanding your point?
I don't like Biden or Obama. I voted for Trump both times and will vote for Cruz, DeSantis, or Trump next election.
However, this is one instance that I am pulling for a Biden admin "victory". Why?
I got into EGOC when a close and trusted family member told me about it.
He was told about it from his upper boss. He works for a large well known S&P 500 company. My cousin's boss heard it from his college buddy whom happens to be a trader.
The rumor was that EGOC has a connection within the Biden administration. It was made clear that it could be a P&D rumor passed to reliable sources. It was also stated that the rumor could be true and still nothing come to fruition. However, if it were proven to be true it could make certain hurdles easier. He was told to invest wisely and cautiously and to see it as a "lottery" stock, only putting into it what could be lost.
So far there have been no confirmations of this rumor. EGOC has successfully completed many of the custodianship and RM steps and is likely about to complete another.
I am holding long. I won't worry until March if the ticker hasn't changed.
It is important to remember that the goal up up listing was within 6 months. Conventional wisdom dictates that the clock wouldn't start running until after the ticker change. That's how I interpreted it.
I agree that the use of the word soon has been overused. However, in defense of those using it I ge the big picture behind it.
Soon as in we know the steps to complete the process are in the works. The opposite would be waiting for the process to be initiated.
I look at like this.
Want to buy a car -
Steps.
1. Figure out a budget
2. Pick multiple vehicles
3. Cross reference price, packages, warranties, trims, etc. and narrow it down to 2 or 3.
4. Test drive
5. Make a decision
6. Go to dealership
Soon would be like being at step 5 already while step 6 would be an uplist. Being at step 1 or 2 is not soon.
Wow. Yeah, I read into the back story once I was given the tip on EGOC. I was I was introduced to the custodianship play in Dec 2020. So, I was inth3 blind and hoping for success through the various process steps that accompany a RM. So far so good. Hoping for the best.
I found these informative and positive to the possibilities, if EGOC holds true to its goals.
https://us.allianzgi.com/our-firm/investable-themes/the-china-way
https://www.investors.com/news/best-chinese-stocks-to-buy/
It is not disinformation that Chinese companies have a reputation for not reporting accurately. That is verifiable. I believe that is one reason this company is taking it's time to ensure total transparency and compliance.
Links that show various Chinese OTCs aren't largely relevant. Why? EGOC has ambitions to uplist to NASDAQ.
This isn't FUD. I don't want anyone afraid of EGOC nor do I hope they sell.I am in over a year and have a nice bag. I will hold in hopes of it mooning as I have previously commented.
I simply will not be disingenuous with valid concerns or possibilities.
There isn't a first until there is a first. Ihopethwy know what most investors think about Chinese stocks and have a plan that is being executed. That plan might havehit some road bumps or the plan is going well. We don't know. I agree, the length of time is a bit disconcerting but it isn't necessarily indicative of failure.
If March comes and we are still stagnant with price, FINRA,and US press releases, then I begin to worry.
I was told a year ago what the risks were. It absolutely could be an elaborate P&D but it could also be a new class of Chinese company that wants to eventually compete with the blue chips.
Lots of assumptions accompany that answer. Nobody knows their timeline nor their short term goals. It could be deliberate to temporarily obfuscate most information regarding the company and it's moving parts. Or, it could be a big nothing burger.
It is incumbent on individuals to deduce which is the likely scenario. I believe it is being slow rolled for specific reasons and one includes future success. The company has nothing to gain by being impulsive if thwy desire long term growth and sustainability. Pump amd dumps would probably follow the hasty plan of getting out quickly for a quick burst.
Perhaps time is needed to ensure nothing is omitted from the plan and from the parameters set forth by the SEC. Chinese companies are looked at woth incredulity from the onset so it makes sense to be transparent and avoid the negative connotations of being a Chinese stock.
I am hoping that is th3 case anyway.
Ok, now I understand. You and Marty thought I was someone else. I thought the initials stood for some type of inside joke or slight.
Why worry about any negativity posted on here unless it is accompanied by an article, a PR, or some type of provenance and verifiable source?
Most of us want egoc to moon but some of us have little experience with stocks (and the lingo) and have questions. Questions are to learn and understand, not to create doubt. It is obvious when someone is trying to create doubt.
I would greatly appreciate updates and warnings as long as it is to inform but not those to simply negatively tank the stock. I know some in here have the dame approach as I do because it is logical.
Some do not.
Let's go FINRA!
There was an article posted on Twitter that had details about their plan. Nasdaq and Hong Kong dual listings within a target date of six months, and with an valuation of 5B within five years. That's isn't verbatim but the relevant facts are accurate.
I just now saw that I had private messages. I didn't know it was a thing so my apologies for not responding.
I appreciate those that responded privately. I appreciate the good information and perspectives.
Let's go FINRA!
What does this mean or signal?
Thanks for the response. That makes a lot of sense and helps me understand a little bit more. Greatly appreciated.
I don't understand why folks keep referring to me as GJ. Is it a slight or slang or something else I don't know about.
What tactics?
I asked a question. Since when is edification seen as a negative?
Folks here always state shares are locked up and big blocks are difficult to buy. If that isth3 case then how will new investors buy shares? One possibility is that EGOC/ECEN would need to issue more shares. I wanted to know how that scenario might affect us and our shares. I found the answer and posted it. Now, I have more information that will help me make future decisions.
That makes me a pariah or a pessimist??
Would you ne good enough to elaborate? I know the meaning of the two words but fail to comprehend the context and relevance.
As I often do I lurked on other forums. I frequently see questions asked with no responses so I post them due to having similar questions. I found the answer to a question I asked on a different forum so evidently at least one other individual is wondering the same thing.
The answer I saw posted to my previous post forthose that don't have the requisite knowledge or experience -
"The intrinsic value of your shares, as a percentage of ownership of the company, has been diluted. Price action as a result of the raise can vary, like funding CAPEX for growth with a headline partner(not bad!), or simply to fund working capital (very bad!). But on average the dilution effect alone will weigh on price. Opposite is true for share buybacks, less shares available to the market, so the value of those available increases."
I asked before but it might have gotten overlooked so my apologies for the redundancy.
Stocks on the rise typically issue new shares. If what folks here claim/see (I don't know how to see this information) that shares are locked up and big blocks aren't available-how will new investors buy shares? How does it affect our shares if new shares are issued?
Thanks
My apologies to the board if my questions appear indelicate. I merely like learning different strategies and perspectives while receiving updates.
I am not criticizing Marty nor claiming him to be misleading. What isn't clear to me is how someone claims they keep buying almost daily/weekly. I don't understand that at all. Again, I am mnew to investing in all stocks not just OTCs.
Again, my apologies. I was simply seeking to understand and make sense of his comments and his claimed actions.
Hypothetical- spend $500 today while down lowest in a month OR spend $100 every other day over two weeks? The process was steady for a long while and recently has had peaks and valleys.
I don't want to get to specific but I am curious how many shares you currently have. Why am I curious? To determine your approach and strategy for accumulation, and to get an understanding of how. (Skme folks just put a lot of money at once while others DCA. I don't see a benefit to DCA if you have funds with the exception of the current trend).
Would you give us a range to avoid details?
Example:
50,000 - 750,000
500,000 - 1,500,000
1,000,000 - 2,500,000
2,000,000 - 4,000,000
For Hugoe and other faux pessimist - I hot into EGOC one year ago and have no intention of selling. We are still pretty much flying in the blind but at this point it is far riskier to sell than to sell than too see where it can go.
That is an accurate assessment. I hope it changes our life in some sort of positive manner. Cautiously optimistic.
Thanks. I am focused, logical, and pragmatic, yet a novice. I do worry at ti.3sbut only because I want this investment to work out. For me certainly, for all of you, absolutely, bit mostly for my family.
I am excited about the possibilities while trying remain grounded. FINRA probably has no timeline that correlates with the Chinese new year but PRANDIN financials might. I cautiously optimistic and truly hope that ECEN will change our lives.*
*Sooner than later
Thanks. I assumed it was favorable bit I am worried more shares will be issued as price moves up. If they can get to $3 and uplist within 6 months it won't matter I guess. My strategy is to sell a bit, maybe 20%, at $.40 then sell another 10% at $1. I will then sell half of remaining shares at $3 while holding the other half, hoping for a ByteDance type valuation.
I love and appreciate informative posts. Thanks.
In relation to other stocks both Nasdaq and OTC, how is that OS figure comparable? Favorable to we early investors, unfavorable, or average/unaffected?
Understood. Personally, I hope it us at a $1 before March 1
Damn, I hope it is over $1 by that time if not $2. Will it be I don't know but that's a long time for it to only triple.
Question-
We know that when traditional stocks have an increase in price the companies issue more shares. With egoc being an OTC and buying large blocks being difficult...
What will likely happen as good news comes out and the price increases? Will folks selling to buyers cover the demand? Will more states be issued?
* If folks do not sell in hopes of a $3 price to uplist ...HOW do new investors hget shares???
Do you ever have a modicum of logic or evidence behind your claims?? You incessantly make negative comments yet di not offer reasoning. If you don't like EGOC then simply sell and move on. You can watch silently from a distance to see if you made the correct decision.
If you wish to continue being the negative Nelly then please offer detailed explanations. That will ne difficult because nobody knows the truth behind what may or may not come.
GM folks...
Question for those with stock acumen and OTC experience.
When do companies typically release financials? Will it be with the ticker change or do they have a deadline that must be met after the change, but it is within their discretion?
I like all the positivity. Iam hoping this is a Chinese backed, or approved, conglomerate put together to overshadow and reel in other gigantic Chinese companies.
We ow the story woth Jack Ma and how the Chinese tech companies tookahuge hit due to the government.
However it transpires Ihope it its$4 so quickly that folks do tha entire to sell authentic psychological levels of $1 and $2....then I hope it steadily goes over $8...it could become the next ByteDance if it wants, it won't hurt my feelings.
: )
Very much appreciated.
What is a paint job?
Do MMs know any important information prior to the general public?
Thanks
I am smart enough to know that I don't know it all or enough. I greatly appreciate folks asking questions and sharing knowledge,opinions, and information. It is apparent that some on here have experience and offer a better insight. I am here by chance and truly wish to learn and hopefully we all do very well.
EGOC price to > your desire.
1. You stated "they" so I was seeking clarification as to which ticker.
2. Where do you see the name change?
3. What makes you assume it was done without FINRA?
Thanks
Who did that?