National Energy Services Inc. (fka NESV)

[DragonBear]

The intent of issuing the "Firm Commitment" now is to help the Company with credibility issues with the SEC

moving through the up listing process (Form S1)

The SEC could care less in terms of a S1 filing, and neither does a 3rd party's "Firm Commitment" influence the SEC deeming a S1 effective or not.

The so called "Firm Commitment" isn't that firm from Wellington's side, as this post points out:

Not so firm

I do not know why this is even being called a fraud

The fraud flavor is actually coming from NASV's end. What you are avoiding discussion of is: How would NASV satisfy the requirements for up listing. Shall we take a look at the requirements?

Listing Standards

Well, which criteria do they satisfy? NASV doesn't satisfy any of the listing standards. Not even close.

The real "henhouse" is NASV. Management wants to pretend they have laid a golden egg - "up listing". So they approach Wellington to issue a letter, management can plug into a PR. Wellington on its part, says sure - $50K fee up front please. It doesn't change the up listing requirements in the link provided - does it? There's currently no way to get there or up list. The presence of Wellington won't change the up listing standards. Wellington gets their fee, times the number of pinkies they are issuing like letters for. Very little work on their part. They are under no obligation to inject capital into NASV, or any other of the microcaps. Meanwhile NASV management has a potential angle for a P&D. Where the angle is to shout "Up List!". Microcap investors get excited, management along with affiliates dump.

In the end it doesn't matter if Wellington agreed to issue a letter or not. NASV is still the same microcap bleeding red, recently buying another company with a negative cash flow, as discussed last Friday. No IPO, no up listing possible.