I bought this ticker in 2021 when it was active. Like all of you I have waited for it to be picked up.
I used AI (GROK) to tell me the steps to bring a company back from the dead in Florida. It's a good starting point, hopefully we get someone that understands the process in Florida. I imagine our new CEO has already engaged a lawyer to lead him thru the process.
@grok
The process of bringing a dead public company back to active status through the custodial process in Florida involves several steps and considerations, as outlined in the information provided. Here's a summary of the relevant steps and requirements:
Reinstatement Application: A public company in Florida that has been administratively dissolved or revoked can be revived through a reinstatement application process. This involves updating or confirming the Florida Department of State, Division of Corporations' records. The reinstatement application must be completed and submitted with the appropriate fees to the Division of Corporations.
Fees and Requirements: The reinstatement fees vary depending on the type of entity and the length of time the company has been inactive. For example, a Florida LLC reinstatement requires a $100.00 fee plus a $137.75 annual report fee for every year or portion of a year that the LLC was dissolved. There may also be additional penalties or fees that the company was subject to when it was dissolved.
Annual Report and Tax Obligations: To complete the reinstatement process, the company must file all delinquent annual reports and pay any associated fees. It's also important to address any outstanding tax obligations, including sales tax, unemployment compensation tax, and corporate income tax. If the company has been dissolved or revoked for more than one year, a separate application with the Florida Department of Revenue may be necessary to reinstate business tax accounts.
Registered Agent and Address: The company must have a registered agent and a physical address within the state of Florida. When submitting the reinstatement application, the company must provide this information, including the name and address of the registered agent.
Certificate of Reinstatement: Once the reinstatement process is complete and all requirements are met, the company will receive a Certificate of Reinstatement. This certificate indicates that the company is once again in good standing with the State of Florida.
It's crucial to consult with a legal or financial professional familiar with Florida's laws and regulations to ensure that all steps in the reinstatement process are properly followed.
