All Things Mobile Analytic Inc (ATMH)

[Moving On]

Biofinn, a De Jure Corporation or De Facto Corporation?

The whole TRON did something wrong & Nonexistant Corporation thing is made up. That is why there is never anything by the SEC quoted. And never any case law. THERE IS NONE


Whether Biofinn was incorporated in the State of Florida it does not matter. That is up to them not TRON to get that done.

A de jure corporation is one that has been organized following the requirements of the relevant statute. It is considered a de jure corporation when everything that needs to be done has been done to become a corporation. It has fulfilled all requirements and granted limited liability protection under the law.

Once the corporation is viewed as a de jure company, the officers are free to hold a board of director's, issue stock to shareholders, and begin conducting business.
De Facto Corporation

A de facto corporation exists when an individual or individuals take the steps to incorporate a business, but the steps taken did not comply with all applicable statutes.

In this situation, the corporation has no protection from the state in a quo warranto proceeding. The corporation will be protected against third parties.

Courts usually make a determination of a de facto case if the following requirements are met by the corporation:

A statute that makes incorporation legally possible
Attempts by the company to comply with the statute
A use of exercise of corporate privileges