Gifa Inc (GIFX)

[WiseYoda]

“If point was, if FINRA were to discover some criminal activity by GIFA officers, it could throw a cog in the wheel of moving forward with any corporate actions by FRFS/GIFA.”

GIFA cannot be this stupid to appoint an officer with a criminal history. This makes no sense. FINRA’ main issue with any company submitting corporate actions will be if there are any outstanding notes or any kind of toxic financing. FINRA is not the FBI or CIA but a body put in place by the SEC to watch over and regulate these non reporting OTC companies.

If a company has outstanding notes or financing then the corporate actions will not be approved unless they are resolved or carried over. FINRA reviews all corporate actions accordingly with the submittal of all documentation and payment. FINRA knows exactly what to ask because they get to fully look up FRFS’ skirt. They will request share structure(s), shareholder list, board minutes and resolutions for the said corporate actions, and all state filings in order to review. GIFA should have already confirmed such questions with FRFS before proceeding in a take over because it is a standard practice to review all debt and liabilities (company’s history/due diligence documentation) in taking over any company.