Worldwide NFT Inc (WNFT)

[Yolo]

All this says is that when a shell company acquires a business and ceases to be a shell company, there are disclosure requirements. For example, the company has to file updated financial information reflecting the acquired assets and/or business.

As you can see, the address for Goff had been updated to Colombia, so this letter never reached Calasse in Zimbabwe. Had Golden Glory been an actual mining company, someone would have received this letter and Goff would have had to file updated financial information to remain compliant with the SEC.

If Calasse had received the letter and realized that Golden Glory was not an actual mining company, he could have remained compliant by disclosing that Goff never acquired assets and therefore was still a shell company.

I'm sure there is a lot more nuance, but that's the gist of my understanding. Goff could have filed to no longer be SEC reporting and continued as a company, just like GVSI.