Smitter's Roundtable of DD Part Deux!

[Talc Moan]

My SOLI thoughts...

Good Morning, Everyone... As you know i have been a SOLI Shareholder for almost 2 years... I may not post on that board anymore for other reason but I am still a shareholder... I have actually helped draw some opinionated folk from posting as much..

After months of waiting for an up list... Which I do think will still happen here is what i have come to think may be the holdup... It may be confusing to follow or it may not be...

I do not think Old Management is really holding SOLI back to have CE Removed... Paul SPivak is CEO of other Public companies which do not have a CE and are filings normally etc.. Sometimes OTC Markets makes old Management get rid of their shares before removing a CE... That is part of their Criteria and Paul Spivak has approx 3 Million Shares based off the 2017 Filings pre SEC...

I believe the CE will come off in Tandem with Up List since it was put on there from being suspended.. So once SOLI complets all of the SEC and Finra's question and Up List OTC will automatically remove it...

Here are my other thoughts on the hold up...

8-21-2019 8k

https://www.otcmarkets.com/filing/html?id=13605312&guid=pi9SUFmao40irth

Registrant was unable to complete the 10-Q filing on a timely basis because it was unable to resolve a number of issues in time to prepare the financial statements, including (1) a determination whether the issuance of convertible promissory notes during the quarter included a derivative element or a beneficial conversion feature requiring specialized and complex accounting determinations and (2) determining whether the acquisition of certain assets of KB Medical Systems, LLC, completed during the quarter, should be accounted for as an acquisition of assets or as a business combination under applicable accounting guidelines.

8-27 8k

Registrant believes it will resolve these complex issues shortly and expects to complete its financial statements for review by its independent accountants and will complete the filing of the Form 10-Q as soon as possible.

https://www.otcmarkets.com/filing/html?id=13613289&guid=pi9SUFmao40irth

10Q 9-12-2019

Accordingly, the Company has reported the acquisition as business combination initially, subject to further review and possibly seeking advice form the SEC accounting staff. and has allocated the total purchase price among the respective fair values or replacement values of the various assets. The allocations are based on management’s best estimate of values based on replacement values, but the Company reserves the right to re-evaluate the assets and allocation over the next 12 months, as permitted in ASC 805:

The Company has not included audited financial statements for KB Medical Systems, LLC in this quarterly report due to the uncertainty over the proper reporting of the transaction and due to the lack of access to financial records of KB Medical Systems, LLC, which continued after closing as an independent, unrelated entity.

https://www.otcmarkets.com/filing/html?id=13640343&guid=pi9SUFmao40irth


conclusion


So if they are seeking counsel from the SEC and have not Audited CareClix (KB) why would they be approved for up list? What if it was a scam for instance and a way to get up listed and then it fell apart only for Scott to let his Friends and Family convert stock and sell it.

IMO SOLI could Up List prior to Q3 Or anytime after that is Pretty Simple.. Complete the Audit of CareClix/KB making it an official business combination or merger and SOLI will get the Green Light..

It is the Only way the SEC can prevent other companies going the same route and doing the same thing by saying we are having issues with Audit but let us begin trading while we figure it out.. The SEC cannot do that and has to make every company follow the rules step by step...

So there is a really good chance SOLI Up Lists in the future at some point... I do not see this as a negative.. Just remember Glendale is doing this for free and has to wait for Finra to respond which is why it make take longer then expected... as Was16 said. It could take up to a year..

Good Luck everyone and looking forward to seeing digits on Level 2!