Reverse Mergers & Low Float Plays

[Potse]

Involuntary-Recluse...ASKH would be affected.......

ASKH is not an Sec filer so that does not apply IMHO...

At the time that ASKH filed its Form 15, ASKH was delinquent on 6 periodic filings. If the stance that FINRA has taken toward BDCM is applied consistently to all Form 15 stocks that were not current when they filed, then ASKH will not be allowed to change its name/symbol.

The extent to which this new stance will affect applicable shells will probably vary greatly, depending on each individual shell/RM situation. In the case of ASKH, it is entirely possible that the parties involved in that shell may chose to keep the current name/symbol. "Astika Holdings" could be considered a somewhat general/ambiguous enough of a name that it could be suitable for companies in a variety of industries. So in the case of ASKH maybe the ability to change the name/symbol will not be a big factor going forward.

But in probably 99% of the applicable cases, this new FINRA stance would be considered a pretty negative thing. Most owners of a private business looking to go public are going to want the ability to change the name/symbol of the shell. The shell owner or incoming RM target might need to spend an enormous amount of time/money trying to get the shell into a condition/status that FINRA finds acceptable. This could force the shell owner to enter into potentially awkward mergers or deals that are structured very unfriendly to the retail shareholders.