Not even close to being accurate. Some how the rest of the rest of this article was left out. Let me help...
You highlighted the below,
"Upon the occurrence of certain material event"
"Certain material events" which are below and was left out. Notice this has nothing to do with CGRA. NOTHING AT ALL.
Again, $CGRA is not a sec filer!
Lol- $CGRA BOOM! ;)
Issuers frequently overlook the OTCMarkets requirement that issuers file informational updates within 4 business days of any event that causes any of the information contained in previously filed disclosures to become materially inaccurate or incomplete. For example, the foregoing obligates issuers to provide updated disclosures when the information concerning its public float or issued and outstanding securities is materially changed if such change occurred after the period of the report. Consider the example of an issuer that files a quarterly report on April 1 for the period ending March 31, that states its float is 1,000,000 shares. On April 15, the issuer enters into a convertible loan agreement, which upon conversion requires it to issue 200,000 shares. Based on this material issuance increase and the transaction itself, the issuer must amend its March 31 disclosures within four days of filing under OTCMarkets rules. Under Rule 10b-5 of the Securities Exchange Act of 1934 (discussed below), the issuer has an obligation to immediately amend its March 31 report because the report omits a material fact that the issuer has an obligation to issue 200,000 shares, which upon issuance will represent more than 20% of reported public float. Failure to file this amended and updated disclosure would render the issuer’s March 31 statement to be misleading since the issuer did not disclose that the 1,000,000 shares in the float will be diluted by 20%. Even though the April 15 agreement was entered into after the March 31 report, the issuer has an obligation to update the report under both the OTCMarkets disclosure requirements and 10b-5.
