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A split or A/S increase needs to be approved by a majority vote.
The request to conduct a Reverse Split of either the A/S or O/S needs to still be submitted by FINRA for approval.
Rule 6490
SEC Approves New FINRA Rule Relating to the Processing of and Fees for Company-Related Actions for Non-Exchange-Listed Securities Effective Date: September 27, 2010 Effective September 27, 2010, new FINRA Rule 6490 (Processing of Company-Related Actions) codifies the requirements in SEA Rule 10b-17 for issuers of a class of publicly trading securities to provide timely notice to FINRA of certain corporate actions (e.g., dividend or other distribution of cash or securities, stock split or reverse split, rights or subscription offering). Issuers must also provide timely notification to FINRA of certain other specified corporate actions. The rule clarifies the scope of FINRA’s regulatory authority and discretionary power when processing documents related to announcements for company-related actions for non-exchange listed equity and debt securities, and implements fees for these services. Issuers must complete the necessary forms and pay the applicable fees within the required time periods or they will be subject to late fees and delayed processing of documents to announce corporate actions.
http://www.finra.org/industry/notices/10-38
I can't really confirm this, but it was under my impression that the update pertained to the officer list being updated, and the Nevada filings changing from "INACTIVE" to "ACTIVE".
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=24uUSGFwtG9LWMfRZzvvhg%253d%253d
What? No.
That does not automatically assume the deal is dead. That's an opinion.
And with regards to de-listing:
They would not file to de-list. That would remove SPCL entirely. What they could do is file a 15-15D to the SEC and go dark instead. That way SPCL will still be available.
Why would SPCL file to delist? That would contradict the fact that they are a shell.
An 8k, from both SPCL and Pixelmag's was sent to the SEC with a detailed process of an intended Reverse Merger and share swap between SPCL and Pixelmag's.
SPCL is no longer a company for their to have any financials, nor do they have a CEO either.
No, but it is required to be approved by FINRA.
Per 8k, the A/S is to be reduced by a 1:10 split. 207,000,000 Common, 10,000,000 preferred.
(e) Reverse Stock Splits. Prior to the Closing Date, the board of directors of Solaris and Solaris Majority Voting Stockholder shall have approved and consented to reverse splits of the 2,160,000,000 authorized shares of Solaris Common Stock and the issued and outstanding shares of Solaris Common Stock (the “Reverse Stock Splits”), as a result of which, as at the Closing Date, (i) the authorized capital stock of Solaris shall be reduced on the basis of a 1-for-10 Reverse Stock Split to an aggregate of not more than 217,000,000 shares of capital stock, of which 207,000,000 shares shall be Solaris Common Stock and 10,000,000 shares shall be Solaris Preferred Stock, and (ii) the issued and outstanding Solaris Common Stock shall be reduced on the basis of a 1-for-100 Reverse Stock Split to an aggregate of approximately 18,328,978 shares of Solaris Common Stock shall be issued and outstanding (or such other number of shares as shall represent one share for each 100 shares outstanding at the time of the Reverse Stock Splits) and additional shares of Solaris Common Stock reversed for issuance under the Solaris convertible notes shall be similarly reduced on the basis of one share for each 100 shares.
https://www.sec.gov/Archives/edgar/data/1411730/000149315216010214/ex10-1.htm
This was discussed allready.
SPCL is an EMPTY SHELL. There are no sec filings since SPCL is no longer a company, hence the OTC stop sign.
Pixelmag's is going public by Reverse Merging through SPCL.
Once the Merger is complete, Pixelmag's will file financials and this will be a whole different ball game.
Per the 8k:
Hold on a sec 06,
I just made a post responding to McMunchie about this:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=126779816
I'm thinking (assuming), perhaps the A/S hasn't changed yet, and the Nevada filing is a pre-courser to the FINRA filing?
Connection between Mr. Pope, VC2 Capital, Pixelmag's and SPCL:
Good info.
This should shed some light for you and instill come confidence.
From the very top of the Share Exchange agreement:
Allright, here's the deal:
The old financial's on OTC (before SPCL became a shell) shows the A/S at 2,160,000,000 as of September 30th, 2015:
http://www.otcmarkets.com/stock/SPCL/profile
The lates Nevada filing (which was updated on NOV 21st, 2016) shows 207,000,000:
http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=24uUSGFwtG9LWMfRZzvvhg%253d%253d
Here is another Nevada link that show's it being updated on NOV 21st, 2016:
http://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=24uUSGFwtG9LWMfRZzvvhg%253d%253d&CorpName=SOLARIS%20POWER%20CELLS%2C%20INC
If anyone else can clarify this, is it safe to assume we can go with the Nevada filings as the most accurate A/S info?
I sent you links to BOTH SPCL and Pixelmag's Bloomberg page.
It's ok south.
We'll take care of ya here in SPCL/Pixelmags land.
It's been 2 days since SPCL has reached this PPS.
It's had a steady climb since.
DD shows it all, including the 8k.
Within the last two weeks the PPS went from .0020 to .0180!
It's only been 2 days that we have hovered at this price. Some patience is needed, with any stock.
SPCL is an empty shell.
Pixelmag's is going Public through a Reverse Merger using SPCL.
DD is stickied, provides a lot of information.
Wtf? That's a violation of TOS. They should limit their posts or send them to iHub jail.
It's a shame. Regardless, we should continue reporting their abusive posts.
I understand what your saying Tom.
Right there with you watch.
If I see it, I usually respond with reason and facts to drown them out
Right, but I wonder if when you view the private message if you can report that specific message.
If that's the case, hey may get banned very quickly.
Gotta say, it's easy to buy shares and sell right before the bell closes, then call it red.
The last 2 days it's happened.
But for the last few weeks it hasn't.
Really weird.
When you get the ti.e to, check the DD on this board.
A lot of good information. Also there is DD stickied that shows 13 pieces of evidence the Merger is making progress.
In my opinion, I think the merger confirmation will be by the end of this year (2016) or sooner.
Same with mine. In this for the long haul.
Neo,
The term "Wiped Out" is a scare tactic commonly used to shake investor confidence.
If a stock was worthless and they conducted a Reverse Split, the price would immediately fall after the split, ruining investors.
For SPCL's case, that won't happen.
We are in the middle of a Reverse Merger, with a private company who intends to up-list.
This board has great DD. It is your decision to buy or sell. All I am saying is that you will hear a lot of "noise" from others. Make the best choice for you; don't be swayed by others.
It sure does get noisey during power hour huh?
Mis-lead?
The possibility of the Reverse Split has been talked about for the last few weeks, if not months.
By the way, the Reverse Split has NOT been submitted to FINRA.
IF the RS gets approved, it's only to up-list to NYSE:AMEX or NASDAQ.
Per 8k:
Investors,
Here is the website to FINRA. Here you can search to find approvals on Reverse Splits, Halts, dividends, etc.
I assure you, SPCL has not submitted for a RS yet. Do not fall for bashing.
http://otce.finra.org/DailyList
I agree, it shows the date of the intended Merger 8k, but shows nothing else.
Here is SPCL'S page. It shows the Merger intention along with Pixelmags. Middle right of the page:
http://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapid=37186265
Too bad none of them will respond to this.
Good post.
The date represents the 8k that was presented by Pixelmags.
Bottom right.
https://imgur.com/a7hXsWv
Bottom right. It shows they have pending Merger.
https://imgur.com/a7hXsWv
Rising,
Solaris, SPCL, is an EMPTY SHELL. They are no longer a running business. You will not be able to contact them.
PIXELMAG'S is going public through a reverse merger, USING SPCL TO go public.
Please, read the 8k and related DD.
I guess your not seeing these post's.
SPCL has a stop sign because they are an EMPTY SHELL.
No financials have been sent to the SEC BECAUSE they are an empty shell.
OTC showing a stop sign is EXPECTED.
This does not matter because Pixelmag's is going public through a Reverse Merger using SPCL.
Enough with the games.
Looking forward!
$Pixelmag's/SPCL --->
Angri,
SPCL is an EMPTY SHELL. No running business, hence no filings to the SEC. That's why OTC show's a stop symbol.
This does not matter because Pixelmag's is going public through a Reverse Merger using SPCL.
Once the Merger is confirmed, Pixelmag's will submit THEIR OWN financial's and everything will be up to date.
This is a NYSE:AMEX / NASDAQ bound stock.
Thank you for the High Res individual pixels of SPCL
Ha! Allright, much appreciated.
Interesting. Would make sense.
Any way you can call your broker for clarification?