I think many expected a definitive date announced for the first payout....imo they owed the shareholders that much since they decided to move the goalpost last year...
and this I thought was ridiculous, like they haven't looked into this and don't know the answer ?
We May Be Deemed An Investment Company Which Could Impose On Us Burdensome Compliance Requirements And Restrict Our Activities.
The Investment Company Act of 1940, as amended (the “Investment Company Act”), requires companies to register as an investment company if they are engaged primarily in the business of investing, reinvesting, owning, holding, or trading securities. Generally, companies may be deemed investment companies under the Investment Company Act if they are viewed as engaging in the business of investing in securities or they own investment securities having a value exceeding 40% of certain assets. Depending on our future activities and operations, we may become subject to the Investment Company Act. Although the Investment Company Act provides certain exemptions, we may not qualify for any of these exemptions. If we are deemed to be an investment company we may be subject to certain restrictions that may make it difficult for us to complete business combinations, including restrictions on the nature of and custodial requirements for holding our investments and restrictions on our issuance of securities, which we may use as consideration in a business combination. In addition, if we are deemed to be an investing company we may have imposed upon us additional burdensome requirements, including the following:
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having to register as an investment company;
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adopting a specific form of corporate structure; and
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having to comply with certain reporting, record keeping, voting, proxy, and disclosure requirements.
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Such additional requirements would require us to incur additional costs and have an adverse effect on our results of operations and our ability to effectively carry out our business plan.
