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Thursday, March 16, 2023 12:45:03 AM
Chad MacKay, the new CEO of SFLM, has until March 31, 2023 to update Wyoming SOS and file SFLM's annual report. He can file an extension if need be.
For McKay to be CEO, the Articles of incorporation needed to be amended.
We seem to agree on that. It has months now and he has failed to do so.
He cant simply amend the AOI and then immediately have access to OTC markets.
The thing about this simple fact is that he first has to amend the AOI with the SOS, before he can apply to OTC markets to file anything.
The application process can take weeks or even months.
Even if the AOI amendment were to be posted tomorrow, he has a long wait for access to OTCIQ to be able to file the pending annual report, extension or anything else.
In the meantime, SFLM will likely miss their filing deadline for their annual report and lose their OTC pink current tier and drop down to limited info.
Once the pink limited info tier is assigned to SFLM, some brokers will start to place buying restrictions.
Maybe Laden will file the annual report, but that doesn't seem like an outcome that anyone here cares to see.
The rest of it is irrelevant.
Hope that helps.
GLTA, IMO and FWIW.
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