Chun Can Capital Group (CNCN)

[adijas]

I think this is planned for a long time. CNCN was a dead ticker for many years, and suddenly they did a 4000:1 RS in 2017. After that it went silent again, until December 2019 when Gomez filed an 8k about changing accountant (and when I bought my first shares). In January she started filing, and it's obvious she wants to be current before March.

Who is Gomez? There is not much to find about her, except that she filed a form 15 for NILA and DWIS in March 2019. Nothing happened on both tickers after that. And then she showed up on CNCN. She didn't file a form 15, but started SEC-filings. We all know that isn't cheap. So my guess is a RM or acquisition is ready to go, in fact they have this planned since the RS in 2017. And the new company wants to be a SEC-filer. I doubt Gomez is working for herself, she is only 25 years, so I assume she is working for some law firm.

Next is the reinstatement, wouldn't surprise me if we'll see that very soon, maybe this or next week.
The new owners will issue (restricted) shares to themselves. Just 1 million shares give them a 97% ownership, so could be a low amount. After that we might see a forward split, and it could be a huge one. If this is a real company (and it sure looks that way) and they want this stock to trade they should increase the float. A 1:10 FS will give us only a 330k float, but could be much bigger. We'll see what happens, but I'm very bullish on CNCN. Will hold my shares and see how it plays out.