e-mail from Bob. It has been 'unretouched' but the grammar/punctuation is something to be desired?!!
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When the company was placed into the “Gray Markets” management funded a legal team to work with the SEC on the delisting status.
After several weeks on conversation, it was advise by all legal parties that the best avenue for the company to return to the OTC was to be delist and then reapply for listing.
We could have stayed in the “Gray Markets” but the road back was disproportionately harder to complete for a return to the OTC as well as required a larger amount of funds to complete.
Therefore with that legal advice consensus by our legal team, the company agreed to a SEC court settlement.
FLPC management has been actively working to get the company stable and hopes that the stock will return to active trading status.
This will return the company to being a public trading company again.
Currently, the company last number of active shareholders before the delisting was under 60.
In addition, that number could be changing even more with the upcoming tax season in 2020.
If a person has a penny stock, or any stock in general, that was halted from trading that individual would have an opportunity to claim that loss on his tax returns if his/her brokerage house agrees to remove it from their portfolio.
As for coming back on line, optimistically, sometime in 2020.
The company anticipates to have the financial reports completed during the first part of 2020.
However, the funding of this and other operational needs are always the unknow factor since all funds come from the management team.
Best Regards,
Bob
