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Tuesday, March 02, 2021 8:40:28 PM
I'm going to link to OPTI purely as an EDUCATIONAL EXAMPLE so people can see how elegant and simple and BEAUTIFULLY THIS "WORKS" - and what INND and CEO Matt just accomplished:
https://www.otcmarkets.com/stock/OPTI/disclosure
SEE THAT - they filed thee SAME 15-12g in Feb 2019 !
Now - LOOK AT THEIR "FILINGS" which are near identical to what one would see of think of as "SEC FILINGS" !
They have a QUARTERLY FILING each Qtr aka the SEC 10-Q equivalent.
Then, they have an ANNUAL FILING the equivalent of a SEC 10-K = cool !
AND - one will see an "ATTORNEY OPINION LETTER verifying and validating" their info TO THE OTC (and indirectly FINRA and the SEC) = DONE !!
Elegant.
Lets look at ONE "QUARTERLY FILING" to show how incredibly (as in magnitudes) more simple it is to complete:
https://www.otcmarkets.com/filing/html?id=13622362&guid=zDLaUqpiBsogRyh
THAT = a "traditional" INND former SEC 10-Q.
LOOK AT IT = complex and lengthy and MUST BE TO THE TEE IN "SEC FORMAT" etc. Damn thing is a simple QUARTERLY REPORT and clocks-in at 40, FORTY PAGES OF INTENSIVE LEVEL LEGAL-EZE BULLSHIT !!!!
NOW - look at an "ALTERNATIVE FILER" filing (OPTI) Quarterly- literally WRITTEN IN MS WORD and I can bang-out this filing on a laptop in a short weekend, and I'm not joking or kidding = simple, to the point, and ONE SET OF "FINANCIALS" = the hardest part and if they sent me it on Quickbooks or just any accounting program or as a txt file = easy peasy done !
https://backend.otcmarkets.com/otcapi/company/financial-report/271185/content
SEE THAT = 33 pages of SIMPLE TEXT and most of the length is due to repeating tables of "shares issued" = probably not even necessary, but they filed it that way.
POINT IS = that is what's going to "happen" now. INND will WRITE THEIR OWN FILINGS with some minor "accounting assistance" and perhaps a quick tax attorney once over and SEC council OPINION LETTER after all "up to date" for PINK CURRENT.
HERE is a typical "ATTORNEY OPINION LETTER" probably $1K or less to get a decent SEC attorney to draft one - shot around, probably $500 bucks :)
https://backend.otcmarkets.com/otcapi/company/financial-report/259288/content
(SHE'S AN IMMIGRATION ATTORNEY in the So-Cal area of "Little Saigon" who does a lil SEC work on the side- Matt should call here, she's probably DIRT CHEAP and she's "clean" per the OTC and meets their requirements = LEAN and MEAN !!)
Posts contain only my amateur opinions, personal views and thoughts. I discuss stocks as a hobby only. Always do one's own due diligence before investing.
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