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Re: Dragon Lady post# 70569

Friday, 05/27/2022 10:36:04 AM

Friday, May 27, 2022 10:36:04 AM

Post# of 72955
ANOTHER WEEK-NO VENUE CHANGE
This should have been completed a week ago. The only venue change for an American company's Common Shares, came after 3 days, following becoming current in financial filings. Many Canadian companies have become "Current" and moved to a higher venue level, without even filing a current financial report, for some reason.
OTC Markest receives the financial report, does a review and then accepts or rejects the report. If acceptable, the company, if current, is then removed from the Grey or Expert Market and assigned a new/higher trading venue. This happens within days, not weeks.
Obviously, a set of financial numbers were submitted by GIFX and the "form" was found acceptable, but for some reason, GIFX has not been moved to "Pink Current" or even "Pink Limited". Perhaps the "form" was in order, but the numbers questionable. Or perhaps, there is a problem with "false or misleading" promo information. Or perhaps Kisa's financial legal problems are holding it up.
Whatever the reason, GIFX is way overdue, with respect to an anticipated venue change. If not rectified in a timely manner, the problem, whatever it is, could be cause for a "revocation" of the public status of GIFX. Already bad enough that it can not be purchased thru American brokerages, but it may soon become defunct and all will be lost to the dustbin of OTC Scams.

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