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Re: PorteƱo post# 21842

Sunday, 03/24/2024 5:32:24 PM

Sunday, March 24, 2024 5:32:24 PM

Post# of 22803
Re 'community action' based on this comment:

If we are really talking about a measly $75k stopping him from filing Form 10, then that seems like a hurdle that as a community we could get through.



With the disclaimer that I don't have inside information to know what is really going on in Jim's mind ...

As a serious question: who in this "community" -- or extended community of shareholders who have no idea about ihub -- would even consider somehow 'crowd funding' whatever the expense was to get this stock back to trading? Who would be willing to put in any more money at all (=trust Nixon) in order to gamble that coming back to life would push this above a penny and thus be worth the money?

Other questions would be, how would that be done, and who could be trusted to manage it (assuming Nixon would go for it)?
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On the matter of returning to trading, this old 2014 linked article by Brenda Hamilton:
https://www.securitieslawyer101.com/wp-content/uploads/2014/12/OTC-Markets-Q-A.pdf

has some information on pages 4-5 about non-SEC reporting companies [not needing to have audited financials] and use of the OTC Alternative Reporting Standard.

It doesn't say anything about cost, but I'll bet that the no-audit-required policy is attractive to those who are cash-strapped.

If you read through that document (even though its from 2014), it said that (back then) a company on the OTC didn't even have to file financials, but would 'only' suffer the odium of 'skull-and-cross-bones' or 'Caveat Emptor' ratings which could be cured by an Attorney Letter that would take the place of an auditors approval. (But regular financial filings of some sort would still be required.)
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Although I have imagined, as a theory, that Nixon let himself get revoked for strategic reasons, if Nixon let himself get revoked because he was too overwhelmed by costs (and the trauma of getting ripped off twice by manipulators who eventually went to jail), then a) it's too bad no one advised him to simply withdraw from SEC-oversight (this has been posted about before), but b) it still looks to me like coming back via the OTC Alternative Reporting Standard is doable (saying this without knowing any cost figures').

One step at a time. But just not pursuing relisting seems like Nixon doesn't give a rat's ass about anyone but himself.


Nixon has certainly allowed this to be the easy conclusion for others to come to.

Since he's kept his restaurants open (as a whole; he closed 3 and renamed one), he obviously cares about his business. I've seen pictures of the Colorado property he's now using as his business address (via Google Maps), and it isn't a mansion with a yacht parked out back.

We can only hope that Nixon will respond to encouragement (which usually works better than criticism).

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