Gifa Inc (GIFX)

[Themistocles_I]

This is how the process has been working, and what to expect in the not-so-distant future.

FRFS (Firefish Inc) no longer exists as a corporate entity. The Nevada Secretary of State filed/amended the corporate charter to become "GIFA, Inc". The owner of Firefish, Harshawardhan Shetty, Sole Officer and Director, sold or gave away the ‘empty shell’ to Gifa, Inc. to relieve himself from keeping current in filings since he really had no operational business left. What remains is an empty shell that has no debt; nor any kind of operation, and no real cash or assets.
SEC 10K dated 7/14/2015: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10806523

NVSOS showing that Firefish and Gifa, Inc. are the same, and it installs proper corporate officers.
Firefish: http://nvsos.gov/sosentitysearch/corpActions.aspx?lx8nvq=cAHa2MMHoiEWSHdY730%252bAg%253d%253d&CorpName=FIREFISH%2C+INC
Gifa,Inc.: http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=cAHa2MMHoiEWSHdY730%252bAg%253d%253d

Authorized Shares were reduced from 1 Billion to 500 Million, O/S being 160 Million, and Float being 47 Million. They issued preferred shares, which is very common in a reverse merger. The preferred shares are set-aside for the insiders, and are often used to pay the prior owner for selling the shell.

They filed new corporate charter documents with the Assistant Secretary and attorney.
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=137452005

The prior CEO Harshawardhan Shetty had also filed a SEC form 15-12G dated 4/17/2017 to relieve himself of any obligation to the stock. http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11997887

Since Firefish Inc, has filed to become a "new entity" with a new share structure, a new corporate name, new officers, etc., it is currently labeled as "CAVEAT EMPTOR" because the corporation "Firefish" no longer exists. It is being transformed through a legal process into becoming Gifa, Inc.

So, what happens next?

They need to go to FINRA and get the "FRFS" shares transferred to the new corporate entity, Gifa, Inc., a duly filed Nevada corporation and legal entity.
FINRA will review the paperwork, and may ask for some additional documents. FINRA at some point will announce that shares are trading under a new stock symbol.
Gifa, Inc. will get FINRA APPROVAL to become common stock, and at that point, this step will have been completed.
Gifa, Inc., which will be trading under a new stock symbol will begin the SEC FILINGS, and thus become a "current filer" and a "clean company". From that point, it will take the proper steps to graduate from the pink sheets to a higher tier, most likely QB.

This is a Step-by step process that usually takes MONTHS; NOT WEEKS! They will be in limbo until paperwork has been updated. I really don’t see what the big deal is here other than impatient people wanting results yesterday!

This is the normal process taken for reverse mergers. There is nothing wrong with receiving the updated information by March, April, or even May. The ONLY reason people will be complaining is because of the share price. Don't blame the company for that. Blame the idiotic day traders. They're the ones responsible for the PPS currently.