CORRECTION: Timing of next SEC FILINGS .......
I got the dates off a bit on the already filed SEC 10-Q's and 10-K's.. they (GIFA) are actually further along than my original post- it's that they posted the AUDITED 10-K LAST, but the 10-Q's cover to near the END of 2016...so they're actually ready for ONE MORE AUDITED 10-K FOR END 2017 and then BOOMAGE...
THAT would make TWO YEARS AUDITED FINANCIALS and they will most likely file a SEC FORM-10 which I forgot in the original post- and they will be SEC CURRENT...thus and are nearly over the goal line....revising the post it goes (I think) like this:
securities-law-blog.com/2013/01/25/how-to-bring-a-delinquent-exchange-act-reporting-company-current/
It took 1.5 months between their first set of Qty-3 SEC 10-Q's and then the next set of Qty-3 SEC 10-Q's and Qty-1 SEC AUDITED 10-K......
On June 13th 2018 they released the first set (3 SEC 10-Q's)
10-Q For the quarterly period ended June 30, 2015
10-Q For the quarterly period ended September 30, 2015
10-Q For the quarterly period ended December 31, 2015
On July 27th they released the next set (3 SEC 10-Q's + AUDITED 10-K filing)
10-K For the fiscal year ended March 31, 2016 (AUDITED 10-K NUMBER 1)
10-Q For the quarterly period ended June 30, 2016
10-Q For the quarterly period ended September 30, 2016
10-Q For the quarterly period ended December 31, 2016
The confusion in my first post is that these got posted to SEC EDGAR sort of "out of order" and also the way GIFA filed them- that SEC 10-K really is part of the first three SEC 10-Q's, aka it's the last filing for that fiscal year of 2015, it's the SEC AUDITED 10-K for FISCAL YEAR ENDED 2015, but because FRFS was not on a calendar yr "fiscal yr" their fiscal yr ENDED ON MARCH 2016 (for fiscal yr 2015) - as they were not on a calendar year fiscal year.
GIFA has now switched to a traditional Jan-Dec fiscal year which is much easier to follow IMO. THUS, see below for the now "missing" SEC FILINGS we'd be waiting on to get them to Qty-2 AUDITED 10-K's worth of filings and thus in-position to COME CURRENT and then complete the key "MERGER FILING" the one that will show the assets of GIFA being "rolled in" to what was $FRFS and bam-bang-boom home free hopefully...FINRA name and symbol change and OTC current pink filer and hopefully a tier upgrade on OTC .....rock and roll.....
If that's the approx timing/time it takes them for each set- then we may be looking for the next SEC filings around next week potentially...
I think this next one or two sets (LAST SEC FILINGS THEY WILL NEED- either broken into two sets again, or just whammed out all in order as one big release- which may be why it's taking longer) will be the most complex they must file- as they will be crossing the point in time regarding "CHANGE OF CONTROL" and that is going to take some extensive accounting - as it's going to be the filing that shows the asset transfer, change of executives and much more....AND is complex accounting as it's shares in one currency GIFA being "rolled into" a company now filing in U.S. dollars...this ain't simple and trivial stuff and must be done TO THE TEE.....
I read a very good attorney article on "HOW TO COME CURRENT" (linked above) as a dark/defunct prior non-filer and also regarding reverse mergers.. and one of the main methods they discussed was to merely FILE ALL PAST FILINGS DUE that would have been filed- to the current date and point in time....this IMO appears to be the method that GIFA's legal counsel has chosen to follow.
There's 2 other ways..but I won't get into them...not worth discussing....the attorney stated EXACTLY what GIFA has done so far- in that one would expect a bunch of SEC 10-Q's to be filed that look near identical cookie cutter as those are for qtr after qtr when the company was "dormant" so there's not a whole lot to say or change from one filing to another- and that is EXACTLY a match to the June 2016 SEC 10-Q filings by GIFA...
THEN, GIFA started noting the change of control and events of Sept/Oct 2017 and that they'd have more to say and the "proper accounting" for same in up-coming additional filings...and THAT is where I think we're at now...
SO, RIGHT NOW they made a last 10-Q filing that took them to DEC of 2016...Q-3 FOR OLD FIREFISH.....so to correct my prior post- I "think" it will be THIS, which is LESS FILINGS and hopefully LESS TIME...to getting CURRENT and wrapping this up......
1) The fact they filed Q-3 SEC 10-Q's taking them to Dec 31 2016.. means the NEXT FILING should be AUDITED 10-K FOR FISCAL YEAR 2016 ENDING ON MARCH 31st 2017...BAMM..THAT is the big boy we're waiting on RIGHT NOW !!! THAT..THAT would be BAD BOY SEC AUDITED 10-K NUMBER TWO...they'd then have TWO YEARS OF AUDITED FINANCIAL...Huuuuge milestone....I think we get that AUDITED 10-K SOON...NEXT....
2) I "think" (might ..maybe..but not sure...??) at this point they likely go for the SEC FORM 10 AND COME "CURRENT" and "REPORTING AGAIN" as they'd have TWO YEARS OF AUDITED FINANCIALS....this next AUDITED 10-K should be fairly simple and basically a CARBON COPY OF THE 10-K number 1 THEY FILED ON July 27th 2018 as it's still for "FIREFISH" during their dormant years effectively and NO CHANGE OF CONTROL had taken place yet...that didn't occur till Sept/Oct of 2017...the combo of a AUDITED SEC 10-K and a FORM 10 could easily explain why it's taking some time...these are TWO OF THE THREE "big boy" key filings they must make.....whether they do THESE TWO and we have one more "delay" would not surprise me...as they're paying for the audit and the FORM 10 is a more involved filing....but who knows..maybe they just nail ALL remaining filings in this next release and take the ball over the goal line...I guess we'll hopefully know pretty damn soon....I'd think by end of Sept at latest.....
3) 10-Q, April 1 2017 to June 31st 2017...PIECE OF CAKE FILING AGAIN ALSO as it's still the old FIREFISH "financials" and same info as the prior 10-K as the CHANGE OF CONTROL HAS NOT TAKEN PLACE YET....simple carbon copy filing....
4) AND THEN would be the BIG DADDY FILING....SEC 10-Q for period July 1 2017 to Sept 31 2017...the CHANGE OF CONTROL PERIOD had begun...THIS is the filing where I think all the mega accounting stuff takes place- the change of control..the new "set of financials" (balance sheet, cash flow statement..all the usual but now for GIFA and not old Firefish..biigly undertaking....huuuge) to reflect the share swap from GIFA HOLDINGS into GIFA INC and corresponding new assets and whatever cash they capitalize the new company with....thee BIG COMPLICATE ONE...all the translation of Euros (or Lira) to U.S. dollars...all the executives changing...etc...thee key filing of them all besides them just getting their symbol and name changed...as this filing should be the one that show the NEW COMPANY "OPERATIONS" and what their plans are...how well capitalized they are and what assets they rolled into GIFA INC etc
5) THEN at the same time as THAT 10-Q is when I think the SEC 8-K that was prior mentioned in their 10-K already- when that gets filed announcing the prior CEO resignation and NEW CEO and also I think that the SEC 10-Q above and the 8-K THEN GET SIGNED BY THE GIFA INC NEW CEO and SHETTY IS GONE....TOTALLY GONE FOR GOOD....as he is no longer in the picture at the date that 10-Q covers....he's out and resigned as of late Sept 2017.....
I "think" that then they'd likely already have FINRA new name and symbol and OTC warnings removed and just need the following SEC 10-Q's which would be ALL GIFA INC signed by GIFA Mgt and it's off to the races...hopefully the triple crown....
1A) SEC AUDITED 10-K for GIFA INC fiscal year ended 12/31/2017....signed by GIFA INC for their new fiscal year ending DEC 31st 2017....following above BIG DADDY SEC 10-Q with new accounting and change of control already all "figured out"...
2A) SEC 10-Q for new GIFA INC Q-1 for period Jan 1 2018 to March 31st 2018....all reflecting 100% GIFA INC biz now...FIREFISH no longer even exits or spoken about in the filings going forward....
3A) SEC 10-Q for GIFA INC Q-2 2018 for period April 1 to June 31st 2018 and that would bring us TO TODAY ESSENTIALLY...with a 10-Q ALMOST DUE soon.. as the new fiscal yr Q-3 would end on Sept 30th 2018 with 10-Q due 45 days later....SHAZAM....they'd be a "CURRENT" filing company and who knows what from there...we NEED TO SEE THE ASSET TRANSFER and how big this new baby is gonna be...hopefully it's a monster....
AND as stated in original post that needed correcting...STILL WOULD ALSO...somewhere along the way in the mix expect to see their "ATTORNEY OPINION" letter...a standard item that says, "I'VE REVIEWED ALL THE FILINGS AND MET THE COMPANY OFFICERS and blah blah MY OPINION IS THIS IS NOW ALL AN ACCURATE PRESENTATION OF THE COMPANY MOVING FORWARD and per SEC laws XYZ and SEC CODE ABC it meets the requirements as ADEQUATE and ACCURATE CURRENT INFORMATION" blah blah blah.....written by William Aull their SEC attorney....again...my "guess"....expecting that to get posted at some point here....
At that point they have TWO YEARS OF AUDITED 10-K's and likely a SEC FORM 10 and are guaranteed "CURRENT" again...and they'd be GUARANTEED at that point and start rocking and rolling as GIFA INC w/ a symbol and name change approval and all the rest....
ELSE....one other option is a "SUPER 10-K" which may be what they are doing and why it's taking some extra time...the attorney article I read said this is another method...they get permission from the SEC chief accounting office and file ONE MORE "AUDITED SUPER 10-K" that explains ALL THE FILINGS DESCRIBED ABOVE IN ONE BIG OLE SEC 10-K to end of 2017 and beginning of 2018 and have it be an AUDITED FILING and they'd be CURRENT and done for all intents and purposes and then file the Qty-2 SEC 10-Q's as GIFA INC with all new GIFA INC accounting and numbers....
THAT is where I "think" and my best "guess" as to where they're at in this entire process - some variation on a plan like that with several possible slight variants available depending on how the SEC wants to see it and FINRA etc.
BUT, I'd expect SOME MORE SEC FILINGS HERE SOON if the prior 1.5 interval is the "clue" - as I'm guess it likely may be....
Posts are only my amateur opinions, personal views and thoughts. They are not any type of investment advice. Do one's own due diligence.
