re: the GVSI FINRA Concerns, it is a lot to read, and I'm not going to lie, I haven't had time to go through it all yet.
But, it is very clear that FINRA had a laundry list of concerns about GVSI, and the most recent control person was either unable or unwilling to address a large number of those red flags.
If Lanham wasn't able to, it's hard to imagine that whoever takes over the shell next will be able to either.
Keep in mind that GVSI was used by Ray Barton for stock manipulation schemes. Barton was later named in SEC litigation.
And there is doubt that Lanham gained control of the shell legally.
If a custodianship petition leads to a change of control, that should negate the control dispute, but it doesn't erase any other concerns related to past management.
It's not likely that a custodian will be able to obtain information that the previous control person was unable to obtain.
The best chance for GVSI would be to file a Form 10 and two years of audited financials to register it with the SEC, basically giving the shell a fresh start.
It's a very costly route. Which is why so few custodianship shells ever take it.
It would be difficult to find a buyer that would be willing to put that much money into cleaning up the GVSI shell when they could just spend the same amount of money to go public through a fresh IPO and avoid all the skeletons that come with the GVSI shell.
AI
