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Another difference I just noticed between the filings... looks like the first attempts were on outdated forms. At the bottom of each page it shows the guidelines version. They had originally filed on v3.1 June 24, 2021.
The filing yesterday is on the correct form v4.0 January 1, 2023.
That right there could be reason for the limited tag.
Uggh...
The number looks correct though, it's probably just not out into the databases yet or something like that? I am not sure how the timing and process works. But the number is HERB's number ("98508u) and 20 is indicative of a newer issued class of shares. I suggest some patience before throwing off all the alarms. My view is that it is a good sign that we now have a number issued.
It is frustrating that they seem to have mixed up their files in their effort to update the report, likely the reason for the limited tag. But now all should be fixed and hopefully back to Current status next week. But it doesn't give me much confidence that they will get anything approved by FINRA. They need to move on to whatever the new plan is.
Yeah this new one is definitely different, mostly formatting. Not seeing any big changes. Not sure why they would have needed to do this but hopefully it will resolve the issues.
Yeah that's what I don't understand. It's been there for 10 days.
Now they have gone and published it again. I haven't checked it for differences.
Here's the newest version. https://www.otcmarkets.com/otcapi/company/financial-report/362832/content
I reached out to the company today and asked about the Limited designation and for an update on the dividend.
This was the response I received-
$3.02 just printed... Congrats all!
Yeah, hopefully HZ is engaged with OTC to resolve the issue. It looks to be a technicality or a mistake from what I can tell.
I don't think it can be related to the form C. The SEC requirements for form C-AR (Annual report for C filers) is 120 days after period end. So that isn't due until end of April.
FINRA maybe, but OTC shouldn't be an issue. The requirements are clear and HERB has met them from everything I can see. This is the first time they have filed the audited annual report with the OTC, so maybe the system is looking for the attorney letter (which isn't required anymore)?
Correct... but trying to figure out what the issue is? They have fulfilled all the requirements from everything I can tell.
I agree that they need to find some other way to create shareholder value as this clearly isn't working.
I just noticed that OTC Markets has marked HERB "Pink Limited". Which makes no sense... they filed an audited annual report and have verified profile. They shouldn't need the attorney letter since the report is audited. So not sure what the technicality is here?
Another great update, thanks for sharing.
Everything changed with the big changes in 2021, so I am not sure to be honest. I believe they have a small window at the current status (Limited information), not clear on when the time runs out and it changes to "no information" which moves them to the expert market. We really have only one year of history to look back at, what happened last year to companies that missed all the deadlines on the annual filing?
They would have to file a form 15 to terminate SEC reporting requirements and then file under the OTC Alternative reporting standards. If so then they can file the Annual Report, unaudited but must include an Attorney letter.
My understanding is that the stock should continue to trade under the PINK Limited designation for the time being.
Great update, things are progressing. Thanks for sharing.
Whomever it is, it is concerning, I agree. But this narrative that PCT is selling shares is false.
Conveniently left out one important detail... PCT is not selling the shares according to Art's podcast last week. Private equity is, my uninformed guess is Sims converting from preferred to common.
Blue Dolphin Reports Record Financial Results; Fourth Consecutive Quarter of Strong Operational Performance
https://www.accesswire.com/747272/Blue-Dolphin-Reports-Record-Financial-Results-Fourth-Consecutive-Quarter-of-Strong-Operational-Performance
In the interest of keeping it factual...
I am assuming you are referring to 2020, the 10K was filed August 3. So essentially 4 months and a few days late.
Wondering how in the world HERB ended up getting picked up by bots? They have been going at it daily these past few days. Some of the tagged traders aren't too thrilled about it.
Why bother? Because despite the frustration with things being as they are with PCTL I still highly value honest discussion around the facts. That's why I bother, it's who I am. My sole "alternative agenda" has been to provide facts and PCTL relevant verifiable info to combat rampant falsehoods and false narratives.
As for the "true recap"? I provided simple summary points without any interpretation, that is all. Thanks for providing your interpretation, expanding on what was said. If I thought we could have honest discussion I would discuss, but I won't bother. So I will keep my interpretations to myself.
I guess it depends on who you ask.
But we already know that PCT has PE involvement.
Krag Capital/Mike Sims is an example
https://www.sec.gov/ix?doc=/Archives/edgar/data/0001119897/000155479521000429/pctl1229form8k.htm
It's a boilerplate procedural statement. I did not say it was ok. But it's not the huge red flag that it is being made out to be. If it was, there should be a massive uproar being made everywhere. There's not. They have disclosed why the statement was made as required.
New Podcast from Art
https://pctl.com/wp-content/uploads/2023/03/2023-03-30-Art-Podcast.mp3
10K Filing will be late
New operating model to improve cash position.
Addresses recent price drop and dilution. Company is NOT selling these shares. Private equity company is.
False narrative
In reference to Art- 20 years ago first of all... and the company referenced was delisted for issues previous to Art's employment. Calling the him "Delist Specialist" is a misnomer and false narrative.
And the "internal controls" issue... that is found in numerous company filings across the board. It's not the huge red flag it's being made out to be. If you Google this phrase "disclosure controls and procedures were not effective." it is found over 75,000 times. So either there is rampant fraud happening everywhere, including many big name companies, or this is a procedural statement that should be treated as such.
And also... PCT has disclosed what the weakness is, as they are required to do.
Perhaps you should look more closely at the facts.
These are true statements.
Some Twitter bots have picked up $HERB today. Probably won’t mean anything but might get some eyes.
Why? Total incoherent nonsense.
HERB just filed audited results, they are PINK Current, also SEC reporting CF.
No reason to suggest this
Great to see they filed, looking good.
Yeah unfortunately FINRA is not known to be sensible or predictable. So who really knows. As I said earlier, I am skeptical until we see it. It is hopeful though that the company has not been asked for anything else. I was concerned that a new issue had been raised and we were waiting for the company to figure out what to do next.
Sounds like that is not the case, and it also sounds like they already have other plans to be revealed.
Very interesting, thanks for sharing.
I am going to remain skeptical on FINRA until it happens. But it's good to see the company remains confident and that there is more to come.
This could get real interesting this week and next.
This is a blatantly false narrative.
I will leave the interpretation up to the experts, I am not one.
I have simply provided the facts and the wording as it is stated.
From Los Angeles County Public Health Department
http://publichealth.lacounty.gov/acd/docs/LACDPH_C.aurisDosandDonts.pdf
Again... interpretation.
There are many reasons why other products might not be "accessible or otherwise suitable". Could be as simple as the facility has ruled them out due to environmental concerns, cost concerns, etc. This requires interpretation.
Calling Hydrolyte "second banana" is an interpretation.
The EPA wording says products on list K have been used effectively against C. auris.
Sorry, that's the reality of it.
That's your interpretation, it does not say that