OTC IPOs, Mergers & Other Material Events

[Hanibal]

BLYQ CEO also involved in a Nasdaq IPO for a company called Global Internet of People Inc where he's also the CEO

Maybe he'll use the BLYQ shell to do it?


https://www.marketwatch.com/story/chinese-consulting-firm-global-internet-of-people-files-for-ipo-2020-05-11


From the registration statement

https://www.sec.gov/Archives/edgar/data/0001780731/000121390020014134/ea122651-f1a4_globalinter.htm

On November 27, 2019, the Company paid the audit fee and other professional fee of Bally Corp (“Bally”), a company controlled by Mr. Haiping Hu, of $12,250 on behalf of Bally in the form of a non-secured and non-interest bearing loan, which is due on June 30, 2020. As of December 31, 2019, the outstanding balance of the loan was $12,250. On April 23, 2020, Bally paid the balance of the loan to the Company.

https://www.sec.gov/cgi-bin/browse-edgar?CIK=0001780731&action=getcompany

Why would this company pay Bally's audit fees if there wasn't a merger about to take place?