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Tuesday, October 16, 2018 11:47:15 AM
The Company withdrew its Name change until after the Closing to avoid confusion with multiple companies named Global Consortium. The name was temporarily changed back to Bahamas for the Closing only and will be resubmitted post-Closing, this measure will help expedite the name and ticker change with FINRA.
Bahamas Development Corp. Retains Counsel to File a Form 10 Filing to Register Its Shares With the SEC
Press Release | 02/20/2018
COCONUT CREEK, Fla., Feb. 20, 2018 (GLOBE NEWSWIRE) -- Via OTC PR Wire -- Bahamas Development Corporation (OTC:BDCI) has retained counsel to assist the Company in filing a Form 10 with the SEC.
The newly retained counsel has authored a legal opinion for the auditors so the audit of the Company can resume. The audit process was halted in January of 2017 after the discovery of a transaction that closed 2009. The audit team had successfully completed rolling the financials forward from January 1, 2014 through September of 2016.
The audit process is expected to resume shortly while the Company works with its legal team to draft the Form 10 filing.
BDCI is engaging a contract CFO to assist the Company in completing the audit process. The contract CFO will work directly with the auditors on behalf of the Company during the audit process and should help speed the process up.
The completion of the Form 10 will bring enhanced transparency as well as additional liquidity to the shareholders.
Bahamas Development through its majority ownership of Cannabis Consortium, Inc. is moving rapidly into the MJ sector. Over the coming weeks the Company will be releasing updates on its progress in California.
The Company has withdrawn its pending name change with FINRA. The decision was based on the progress being made entering the MJ sector and potential changes to the Company that might come as a result of future transactions, such as the Company's name and/or management.
He did the same thing with TGGI...LMFAO
On September 18, 2017, the Company filed with the State of Delaware to move the Company’s State of
domicile from Florida to Delaware. The Company changed its name from Cannabis Consortium, Inc.
back to Trans Global Group, Inc. and reduced its total Authorized shares to 7,890,000,000.
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