Gawd, I really don't want to ask this, but I must as this issue is being brought up again on the GVSI Board. I actually believe the answer is in these two posts by nodummy but I can't reconcile the two, try as I might.
And anybody thinking of taking over GVSI should serious consider that FINRA is highly unlikely to approve any future corporate action, including any name changes or future reverse split, making the shell basically DOA.[April 27, 2021]
It's not likely that a custodian will be able to obtain information that the previous control person was unable to obtain.
The best chance for GVSI would be to file a Form 10 and two years of audited financials to register it with the SEC, basically giving the shell a fresh start.
It's a very costly route. Which is why so few custodianship shells ever take it.
GS has been custodian of $GVSI since May 4, 2021. My question is this, is there ANYTHING that GS might need that goes BACK BEYOND his two years (into previous management's doings) which might prevent him from getting the two years of audited financials? Or it is going back two years PERIOD? (Gawd, I hope that makes sense). In other words, is there something like a statute of limitations for information but in regards to audited financials?
The issue is that he had a problem back in 2021 and had to withdraw the Form 10:
GVSI @OTCpinkGVSI During the SEC review it was discovered that the designation of a class of pref shares issued by $GVSI's previous management is missing. On the SEC's advice, management has decided to withdraw the Form 10 and refile in December so that corrections can be made with the Nevada SOS. 1:04 PM · Nov 23, 2021·Twitter Web App
Could that still be a problem if it hasn't been fixed or are they irrelevant now?
TIA
My posts are just MY OPINION(S) AND MUSINGS at the time of posting them and are subject to change!! GLTA!!
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