Good Vibrations Shoes Inc (GVSI)

[work-n-hard]

ABC’s CEO, George Sharp, has agreed to return his 300,000 Preferred “B” shares to treasury in exchange for 50 million new common shares, in order to more than offset any share issuances to new investors. Any new share issuances cannot have restrictions removed from them until the SEC accepts GVSI’s Form 10 filing, complete with two years of audited statements. The Form 10 filing is expected to occur late in the first quarter of 2025 and the SEC typically requires 3 to 6 months for comments/question before accepting such a filing. Furthermore, a lock-up agreement will ensure that divestiture of these new shares cannot take place before January 5, 2026.