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Sunday, November 04, 2018 9:05:12 AM
We know this: A Reverse Merger is not a capital raising transaction and a company engaging in a Reverse Merger cannot issue or receive “free trading” shares unless the shares are registered with the SEC.
And this: Rule 144 requires that shareholders of present or former Shell Companies are unable to rely upon Rule 144 to sell their shares until the issuer of the securities has ceased to be a shell and at least one year has elapsed from the time the issuer filed current Form 10 Information with the SEC reflecting its non-shell status.
The "seasoning period" — they still have a long way to go (actually haven't started) and knowing that every penny/tick upward is $3.12M in Delfin's shareholder account. I think we'll see the PPS rise up over the next year, but for a $25,000 investment, the current $18M in value for them alone is looking good. They've hired professionals to see this through...be thankful you're along for the ride. When we decide to get off the ride is all on us.
New SEC rules prohibit a Reverse Merger company from applying to list until it has completed a one-year “seasoning period” by trading in the U.S. over-the-counter market or on another regulated U.S. or foreign exchange following the Reverse Merger, and filed all required reports with the Commission, including audited financial statements. The company must also maintain a minimum share price of $2.00 to $4.00 for at least 30 of the 60 trading days, immediately prior to its listing application.
They'll file the Super 8K and IMO finalize any outstanding items to uplist to NQ over the next year — this is a very long play, and many here will — because of their OTC mindset — get impatient and sell.
Good luck to you and the rest of us here.
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