THE TIMELINE OF A FOOL?
Recapping previous developments, Guard Dog has entered into a Letter of Intent with Starsona, Inc., whereby the company will make a multimillion dollar investment to acquire a significant share of Starsona. A definitive agreement is expected to be executed by August 23, 2019.
Starsona, Inc. and Guard Dog have agreed to extend the terms of the previously announced Letter of Intent, and specifically, the deadline for the execution of a Definitive Agreement to September 20, 2019. Mr. Sharp stated, “The extension was necessary due to the summer vacation period during which it is difficult to assemble all the necessary parties in order to make the deal work.
Starsona, Inc. and Guard Dog have again agreed to extend the terms of the previously announced Letter of Intent, due to the backlog of certified document requests at the office of the Nevada Secretary of State. Although the company, has paid expedite fees to the state, it is processing requests at a much slower rate than it has in the past. These documents are necessary attachments to the request for reverse split and name change that will be filed with FINRA. Unfortunately, the company finds itself at the mercy of the state.
As the Definitive Agreement with Starsona will include a proposed timeline for the investment by Guard Dog, and because the timing of the Regulation A funding cannot be anticipated without the completion of the administrative applications with the state of Nevada and FINRA, the parties have agreed to hold off on the execution of a Definitive Agreement until these events are complete. Management expects that this will occur during the month of October.
BOULDER CITY, Nev., Oct. 25, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE – George Sharp, President of Guard Dog, Inc. (PINKSHEETS: GRDO) announced today that the company’s securities counsel is continuing to work with Nevada’s office of the Secretary of State to unwind and correct past corporate actions, which if left as is would have made it impossible for the corporation to move forward with its plans. As a result of these past corporate actions, some going back as far as when the corporation was formed, the more recent actions initiated by current management also had to be unwound. Shareholders may notice a series of temporary changes to the number of authorized and outstanding shares, but once the required and proper corporate actions have been completed, these numbers will return to their expected state and the company will resume its application to FINRA for a name change and one for eight reverse split. Management expects all of this to be completed at some time during November.
The company’s Starsona investment remains in the company’s plans and a Definitive Agreement is expected to be executed once the company’s corporate structure and capitalization has been finalized.
