Canna Corp (fka CNCC)

[CashBowski]

It’s highly questionable at this point!


I’d say the odds would be more in favor if Dror Svorai and Yaniv Nahon didn’t have a record of being serial liars with a penchant for repeatedly screwing over their shareholders at every turn. Dror has used this “spin-off” stunt in the past which you can read about here:

http://www.stockspinoffs.com/2013/01/04/onteco-and-the-curious-disappearance-of-nexphase-lighting/

So to simply answer your question...it’s not that simple...

as of today, there’s NO registeration statement filed with the SEC. If/when a registeration statement is filed, there could still be a bit of time involved in going back and forth with documents (articles, by-laws, legal opinion, contribution agreement, audits) and ammendments to SEC before a registeration becomes effective. If they were serious they should’ve filed it when they issued their PR back in February.

There’s a few of us that believe that RCGR and Svorai may have been flagged by regulators months ago and in particular by FINRA for a couple reason, therefore they may not be processing any corporate actions, or delaying them — first clue was the Kramer suit as its been said that FINRA won’t either process or at least will delay corporate actions where any of Kramer’s toxic lending companies are involved since he was labeled a “bad actor” by SEC definitions — second, was when they were forced to unwind their corporate move to Deleware back to Colorado citing FINRA delays in their explanation. I wrote about this on Fraud Research board:

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=141030919

Besides the 37,000 preferred RCGR shares that Dror already converted into 37 million commons, I assume another chunk has yet to be issued to Kramer for recent settlement of his lawsuit to get him out of the picture, but that’ll likely add more time due to other selling restrictions... however, they’re currently quite late with their financials which halts dilution activity while they’re under a Yield designation, and that also includes processing corporate actions that fall under Rule 6490; i.e. can’t file registration of new shares by not being current in reporting. This is beside the fact that the rule goes on further to state a corporate action will not be processed if FINRA makes a “deficiency determination”.

Moral of this story is don’t count on it or believe a word of any of their BS until those shares are actually transferred into your account and you’ve collected all the proceeds from the sale.