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GEGP preparing to breakout. OTCM updates over the weekend.
GEGP
GEGP preparing to breakout. OTCM updates over the weekend.
GEGP
Exactly!! It won't be for long!!
The company has been doing all of this quietly behind the scenes without any pump, once they speak up this should get even crazier.
GEGP
Agreed. The accumulation has been crazy. Once we get more filings or a PR this could go bezerk.
I forgot to mention there is also a stock dividend that was announced in the September 2020 8K. A lot of catalysts here.
https://www.otcmarkets.com/filing/html?id=14386358&guid=Kr4kkHOfTroVpth
https://www.otcmarkets.com/stock/GEGP/disclosure
GEGP
No dilution, it's all retail. We've been seeing those 10K figures on the bid/ask since trips. Meanwhile the share structure hasn't changed.
GEGP
Reverse merger finally being completed, filings appear to be on the way (2018 10K filed in May), could be huge IMO.
GEGP
Good eye!! This has me intrigued. They must have sent some form of documentation to OTC to trigger the change.
GEGP
Agree 100%. Same to you!!! Cheers!!
GEGP
Currently you are correct. It is my opinion that GEGP will go back to SEC reporting as they have done in the past based on prior history.
When the shell first started to show signs of life back in 2017 they went from totally dark to full SEC reporting without filing with the OTC (last OTC filing was 2007). It isn't uncommon for companies going through a merger to suspend SEC filings for a period of time.
It's all my opinion, but I've been watching this stock for 7+ years and all signs point to getting back to SEC full reporting as that was what GEGP was at the time of the merger. Time will tell, but the recent changes of address ad officers is a good sign.
GEGP
You are correct. Because GEGP filed the 15F-12G in January 2019 they suspended their SEC filing status which by default will make them Alternative Reporting.
My opinion based on GEGP's prior history is that they will become SEC reporting again. They have gone dark before and come back to become full SEC reporting. It isn't uncommon for companies to suspend filings during a merger. IMO.
GEGP
GEGP is not filing with the OTC, they are filing with the SEC. Expect to see more filings submitted to them in the coming months.
GEGP
It's in the 8K filed in September 2020. They said more filings would come to provide details, it took a while but we saw the 2018 10K filed last month. My guess the delay is in the auditing, since their isn't much to the financials because the company hasn't had much activity.
GEGP
That's not correct. The date applies if GEGP was planning to be an Alternative Reporting company, they are not.
GEGP will be SEC full reporting. Since they revived years ago GEGP has been submitting all the their filings to the SEC, not the OTC.
GEGP
I was asking when it needs to break 8s, I wasn't sure if you were saying it had to make the break today or not. Thanks.
When would it need to break 8s by?
Nope. I like the quiet approach...haha. At least until they have something of substance to say. The time has to be approaching.
GEGP
The buying interest is holding up strong at that level. Shares are getting absorbed nicely and the bid building back up. Ask keeps getting thinner.
Big volume with the next filings will send this to new heights IMO.
GEGP
Still keeping an eye on the stock you sold out of??? ;)
GEGP
Just wait for more filings to hit. That's the catalyst we're waiting for. Getting current will be a game changer.
GEGP
Shares continue to get gobbled up. There is strong interest in the low .001s.
GEGP
We've already agreed here that the June date does not apply.
September 28th is the deadline. More than enough time to get things done.
GEGP
Agreed. There will be people not willing to wait and may panic sell, but there seem to be consistently strong bids in the low .001s.
I'm not too concerned with the short term price fluctuations as I'm still holding my shares until we get the filings and a far higher share price.
GEGP
Some big slaps at the Ask...Level 2 is very thin given the Share Structure.
GEGP
Good catch. I hadn't checked the Florida State site in awhile.
http://search.sunbiz.org/Inquiry/CorporationSearch/SearchResultDetail?inquirytype=EntityName&directionType=Initial&searchNameOrder=GOLDENTERTAINMENTGROUP%20P070000965620&aggregateId=domp-p07000096562-942df39c-2da6-481b-827e-3d8053818d42&searchTerm=gold%20entertainment&listNameOrder=GOLDENTERTAINMENT%20P010001099750
GEGP
Good point. We are still awaiting details of the Stock Dividend that will be provided by the outgoing CEO. So much still to come here.
Some of us have been waiting years, but it looks like we're getting very close.
GEGP
Shares keep getting gobbled up. The accumulation is clear.
Chart setting up for a breakout, add filings hitting and this could lead to a major run.
GEGP
Group? Thanks for clarifying and sharing the info. This doesn't settle our debate, but still good info to share.
GEGP
Thanks Splash. I think we're getting close to seeing the rewards of our patience here. Looking forward to seeing more filings hitting soon.
GEGP
We'll see, I'm done arguing. Time will tell who's right. I've been pretty right up until this point.
GEGP
Without knowing the plans of the new ownership group it's tough to say.
I agree Alternative Reporting is the easier play, which is why most OTC companies go that route. It has me intrigued though that they're choosing to go the SEC route. Makes me think there's potential for something bigger here.
The higher level of legitimacy is nice though. Once the rest of the filings come in and this is SEC-full reporting with audited financials the share price should rocket. IMO
GEGP
You're right those filings are still required, but who you submit those filings to is telling (SEC vs OTC). Keep doubting though.
GEGP
It's not magic, look at all the filings submitted to the SEC since 2017. All of those were done to become SEC-full reporting. For whatever reason they choose to go dark after the merger, but the 2018 10K filed with the SEC last month proves my point that they are working to re-register the securities.
https://www.otcmarkets.com/stock/GEGP/disclosure
GEGP is filing with the SEC to become SEC-full reporting. End of story.
GEGP
It's not uncommon to suspend filing requirements for various reasons, the 2018 10K filed last month seems to prove the intent of reinstating their registration.
By "SEC Current" I meant "SEC full-reporting", it is clear that is the path GEGP is taking. Instead of submitting the disclosures directly to the OTC markets they are filing with the SEC. Once the necessary filings are accepted by the SEC, it appears OTC Markets will label GEGP as "Current".
The June deadline appears to only apply to companies seeking "Current" status using the "Alternative Reporting Standard". GEGP is not going that route.
See the quoted section below (underlines are my emphasis):
"OTC Markets Group segments Pink companies based on the information they provide to investors into Current, Limited or No Information. Companies can make disclosure available pursuant to one of the following Reporting Standards:
Filing required reports with the SEC, U.S. Bank Regulatory Authority, or home country if listed on a Qualified Foreign Exchange
Companies that do not meet one of the above standards can provide disclosure to investors directly to www.otcmarkets.com via the Alternative Reporting Standard"
https://www.otcmarkets.com/corporate-services/information-for-pink-companies
I don't think that's right, there is a difference. You can be "SEC Reporting" or "Alternative Reporting", they don't have to be OTCQX and can still be a Pink Sheets company that reports to the SEC instead. IMO. See the link below, companies can file with the SEC or OTC.
https://www.otcmarkets.com/corporate-services/information-for-pink-companies
Again, I'm no expert but my point is the June deadline is if they are submitting financials to the OTC to meet the "Alternative Reporting Standard", if they are instead filing audited financials to be SEC Reporting, then only the September deadline applies.
The purpose of the amendments to the SEC regulation are to increase transparency, if a company is full SEC reporting that's as transparent as it gets, so I don't see why the OTC would take exception with that. So submitting financials to the SEC (more stringent) will satisfy the requirements.
Long story short...IMO the June deadline does not apply to GEGP, as their plan is to be full SEC Reporting instead of reporting to the OTC. September 2021 is the deadline.
GEGP
Fytton owns 3.3 Billion shares, once the merger is completed those will transfer to the new ownership group. Those shares out of the float may explain why it trades so thinly. Although, it still trades thinner than I'd expect.
I'm hoping for share retirement & A/S reduction down to the new O/S. That kind of news after all the filings are caught up sends this well over .01. Maybe pushing .05+ IMO
GEGP
The audited financials are to get SEC current. What I'm trying to say is if they are SEC current wouldn't that be enough to satisfy the OTC? I'm not sure, but that would make sense to me. If it's good enough for the SEC, idk why OTC would be more stringent. I think they will eventually get OTC current, but the first priority appears to be getting SEC current again.
Going through the steps to have the financials audited adds another level of legitimacy here. They could easily file unaudited financials with the OTC to satisfy the requirements, but I think their aims are bigger than that.
GEGP
It's a lot easier to pump a scam for short term gain than it is to actually do things the right way. Going through SEC filings instead of just OTC reporting gives this a bit more legitimacy IMO.
GEGP
It's not blind trust, it's reading the situation. The last filing of the 2018 10K proves they're working on cleaning up the old financials to get SEC current. Seeing as those were audited financials my guess is the wait is with the auditing and not the actual financials, since the rest of the filings should be pretty straight forward with a dormant shell company.
I think the plan is to get SEC current again. I think as long as GEGP is current with SEC reporting, the June deadline you guys are talking about doesn't apply, the real deadline is in September 2021. I'm no expert on this but that's how I've read it.
I don't think we have many trips holders left, that last big volume day cleared most of them out is my guess. But I'm not concerned about the short term dips, I know by the end of this year the price will be far higher.
GEGP
I actually don't mind the lack of fluff PRs or twitter posts pumping it. Companies that play the game always seem shady to me.
Fytton is very knowledgeable about regulations and requirements. I trust that he's doing everything necessary to make sure the deal is completed. Otherwise all the work (and costs) he's spent on getting the shell cleaned up would be a total waste. It's in his best interest to get this handled so the merger can be finalized.
GEGP