Delisting for shareholder protection is my personal wild theory.
Nixon always had the option to simply withdraw from being under SEC/Edgar authority to file, although I assume he'd have had to then qualify for trading using the OTC alternate reporting method (filings validated with an Attorney Letter) if he wanted WCVC to keep trading.
After NRG reverse-merged into WCVC, WCVC was no longer a shell but a real operating, reporting company. Even after it stopped reporting, it was always an operating company.
WCVC was sent to the Expert Market for not filing. Expert Market stocks supposedly can still trade, but allegedly only 'experts' can trade them, bearing the risk for lack of financial disclosures.
So, it never made sense to me why WCVC was revoked for not filing, since it was in the place (Expert Market) that the SEC allowed it to be for not filing.
Between the time WCVC stopped filing and the time it was sent to the Expert Market, WCVC slightly more than doubled its O/S.
Once on the Expert Market, WCVC still traded (from Sep 2021 to Feb 2022), although there was no evidence of further O/S expansion.
I recall reading that there was a loophole in the Expert Market rules that allowed foreign/off-share traders to trade Expert Market stocks as though they were retail buys, and possibly even short them (though I'm not a huge fan of Chicken Little style 'shorty scares'). Expert Market trading volume for WCVC was not merely a few shares here and there. It was pretty noticeable (in the millions).
So I've been wondering aloud (while humming the Jethro Tull song) whether Nixon purposely got himself revoked to stop that trading.
It's all speculation.
What do you think?
