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Monday, September 21, 2020 6:48:40 PM
Following up now it referred to clearing all the trading restrictions in each state so that when the offering is completed the shares will be able to be freely traded just like the commons but on a separate ticker either QB or QX. In order to pre-clear this, they had to submit filings in 36 states that required various information including financial statements.
The reason for doing this was to ensure the liquidity of the preferred shares. It is a way of showing good faith for larger investors or for the shares issued for an acquisition. It is a step that is usually taken after the offering is completed.
I would think that this was requested by a specific party or parties. They have been legally soliciting the offering privately and considering they are no longer promoting it publically I would guess they are finding some traction there. The public will likely come at the end.
Combined with the quiet, I am pretty confident they are in negotiations.
I was in this situation a few years ago and experienced something I haven't seen since, 12 straight days of green and an RSI over 80 for 9 of those with a high of 94. That was an acquisition. I am hoping for something like that here. The valuation is so low it could definitely go for a while with the right news.
Gotta think we hear something soon. 89 days since the last PR.
CLWD!!
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