Turner Valley Oil and Gas Inc (TVOG)

[loanranger]

"the Form 10 is required to gain any real interest and credibility. "

CEO Smith did a good job of explaining his reasoning behind filing the Form 10 back in June. It's a lot more than the perceived credibility and increased interest, although those things are important.
"At this stage of the Company, the acquisition of a product or technology that will allow for organic business growth is a fundamental milestone for attainment of full SEC registrant status via the filing of Form 10. Under Form 10, the Company registers the Class A Common shares under Section 12 (b) of the Securities and Exchange Act of 1934, thereby becoming subject to the reporting requirements of Section 13 or 15(d) of the Exchange Act. These reporting requirements include additional current and periodic disclosures beyond the requirements of OTC Markets and are integral in obtaining funding sources for ongoing acquisitions of additional business lines and expansion of capital formation for completed acquisitions."
https://tvoginc.com/2020/06/turner-announces-corporate-updates-and-advancement-plan/


You probably remember that Helm promised and filed a Form 4 Registration in 2018 which was then withdrawn without explanation:
"At this time the Company has determined not to proceed with the registration of securities contemplated by the Registration Statement."
https://www.sec.gov/Archives/edgar/data/1098343/000109991018000020/rw-tvog.htm

A Form 4 is a very detailed operational and financial history and subject to SEC scrutiny. I have always suspected that the requirement to provide audited financials would trip Helm up and it probably did. The filing included two DIFFERENT conversion rates for the Company's preferred stock....a blatant inconsistency. The SEC would surely question that issue, requiring an explanation for it and anything else it found strange. I think it was easier to just withdraw the filing and avoid trying to explain the inexplicable. Many small OTC companies raise the specter of filing a Form 10 to provide some juice for the shares and can't get it done.


CEO Smith will have the same problem. Hopefully for the sake of investors he is better prepared to provide some answers...his financial background is a lot stronger than Helm's was. That said, two years of audited financials and a full operational history back to the date of organization gives the SEC lots to look at.
It will make for interesting reading and I look forward to the filing.