The April 27 PR stated - "HPIL Holding (the "Company") (OTC: HPIL) is pleased to announce that it has filed the necessary documents to bring the company out of the Dark Pink Sheet status... "
It also stated - "This will now allow us to provide shareholders and regulators with current information, such as the companies financial status via current updated SEC/Edgar filings. The company is expecting these filings to be made within the next 30 days and show a much more transparent disclosure for the company and its activities”, said Stephen Brown CEO"
So we can see from this PR that the initial intent was to be a SEC reporting company within 30 days of the 4/27 PR.
Then the name change PR hit on 5/14, 17 days into the 30 day ETA window previously stated in the 4/27 PR. A subsequent CC revealed that the name change request to FINRA had been hung up causing gridlock due to old missing HPIL financials. SB contacted FINRA to see how to get around the hang up and the answer from FINRA was "retract the name change", which SB did immediately.
At that point the decision was made to revert from SEC reporting (reporting company - all history required) to OTCMs Alternative Disclosure Service (non reporting company - 2 yrs required) and this is when the OTCIQ developments finally came into play.
These are the events that led us down this nearly 4 mo filing delay (since 5/27).
Horizon Project I&L
$HPIL $$$$
HorizonCREW
HPIL Holding Files with OTC and FINRA
NEWS PROVIDED BY
Cybernetic Technologies Ltd
April 27, 2021, 22:03 GMT
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Cybernetic Technologies
VANCOUVER, BC, CANADA, April 27, 2021 /EINPresswire.com/ -- HPIL Holding (the "Company") (OTC: HPIL) is pleased to announce that it has filed the necessary documents to bring the company out of the Dark Pink Sheet status, where companies may not be able or willing to provide disclosure to the public markets - either to a regulator, an exchange or OTC Markets Group. “This will now allow us to provide shareholders and regulators with current information, such as the companies financial status via current updated SEC/Edgar filings. The company is expecting these filings to be made within the next 30 days and show a much more transparent disclosure for the company and its activities”, said Stephen Brown CEO
