NoHo Inc (DRNK)

[I-Glow]

You aren't supposed to be able to convert if a company isn't current - but I have seen John Fife do it on NOHO - I suspect he used a 144 Opinion letter to remove the restrive legend. They are a Form 15 company.

I don't believe it is a "Rule". What may be happening is that Alpine is changing the requirements for clearing new issuances under note conversions. The current version of the rumor is that they will not do so for stocks under 1 cent. Whether that is what is happening or when is the question.

I think that it was a attorney Mark R. Basile who write a article on convertible notes that got a great deal of the rumor started - it seems he was trying to obtain more business because much of what he wrote was accurate - especially about the 3(a)(10) exemption.

https://www.thebasilelawfirm.com/single-post/2018/04/12/THE-FRIDAY-THE-13TH-CONVERTIBLE-NOTE-MASSACRE

From TenKay:

There has been an awful lot going around about this issue which likely started after a pretty straightforward summary judgement against Alpine the SEC got related to issues with Alpine’s SAR reports.

That got morphed into new “regs”, “rules”, “standards”...that were suppose to hit last Friday. Only problem is there is no evidence of such. No comment on anything by the SEC, nothing from FINRA and even Alpine has said nothing. In the meantime lots has been written predicting everything from a complete stop in note conversions across the OTC, a huge short cover (which the most recent article is focused on), or some other Armageddon result that will see riches bestowed upon penny stock investors previously at the mercy of those evil toxic finders.

Of course...nothing has really happened since Friday..

As Always Toxic - I defer to you.

Pinkys survive on Toxic financing - it would be great if the financing was more regulated but there wouldn't be as many lotto plays and the OTCM would be devastated. I have always thought it would be a great idea if there weren't any stinky pinkys or dark companies.