Reality check
As you all know I’m a long. I don’t see any good news here in the short term
Sec followed protocol and did their job. Too many companies making false claims and they acted across the board. Unfortunately we got caught up in it.
Secondly, we have no our from the greys after suspension lifts. It automatically happens given finra and otc rules. Is it fair? No but that’s the facts.
Only thing that can happen here is that everyone who is long and has done their DD knows the company is legit. They have to take in their first order and multiple other orders and build up their cash reserves. They then have to go through the process of filing 15c211 to go back onto otc land or better still, get their act together and make the move to nasdaq with cash and assets. Either of these options will take months.
All the chatter of will we, won’t we be on grey. Unless something miraculous happens, we will open on may 5th on grey markets.
Thai game now is all about orders and revenue, if/when that happens then we have a shot in a few months.
Re trading the greys, most brokers wont, or if they do it’s only matched trades. Don’t get caught in the first few days dumping it for pennies as after that happens it goes back up. Either way, 90% of investors won’t be able to trade so it’s sit and hope. I include myself in this.
As I said before, there is nothing positive in being suspended even if you did nothing wrong. It works out the same way, you get screwed.
As for the noise on suspension. There are a number of options. 1. Suspension is lifted which usually means no further questions. 2. Suspension is extended which means they need more answers 3. Stock permanently delisted and prosecutions.
I’m assuming it will be the first option. I don’t even believe the SEC make any elaborations when/if they lift the suspension other than it’s been lifted.
During this process, I’m not even sure if the company can issue a statement.
All I’m 99.9% sure off is that it’s grey market for us on the 5th
