Good Vibrations Shoes Inc (GVSI)

[Major Profits]

Agree, but it's not that simple is it? (More on that in a second).

There will be no "good days" until Sharp gets up off his ass and delivers what he previously tweeted about...a reverse merger.

But first, whatever happened to the other "potential candidate" GS said he had??

GVSI management believes that the company is close to a significant acquisition with two potential targets under serious review.[Dec 28, 2023]

And I assume that GS chose the one he thought was the best between the two but that one fell through, so what happened to the other one?

Anyhow, the problem now, afaic, is whether or not GS can get this SEC Reporting again because, from what GS has said (the way I read it), this has to become SEC Reporting again before FINRA will process any applications for corporate actions. As GS has said:

The Issue
A couple of generations of management ago, GVSI used to be an SEC reporter, filing audit financials. The last of these audited financials was filed on February 14, 2008. Then, on June 26, 2008, GVSI filed notice of late filing for the first quarter of 2008 (blue).

On July 10, 2013, GVSI filed a Form 15, which is notice that the company doesn't intend to be an SEC Reporter any longer (yellow). However, in this case, the Form 15 was filed when GVSI was already 5 years delinquent in its reporting requirements. The filing of a Form 15 is only truly effective in absolving a company of its reporting requirements if that company is current in its reporting at the time of the filing.

Here, the filing of the Form 15 did not absolve GVSI of its delinquency. Nor does making the company Pink Current, as was accomplished during 2023. While the company is in good standing with the OTC markets, in the eyes of the SEC and FINRA, GVSI remains a deliquent reporter. FINRA will not process a corporate action such as a name change, symbol change or reverse (or forward) split while an issuer is deemed delinquent in its reporting requirements.

The Solution
In order for FINRA to process GVSI's corporate actions--FINRA does not approve actions, they only process them--GVSI will have to once again become a reporting issue in good standing. To do so, GVSI will have to file two years of audited financials within a Form 10 filing. Current reinstated as an SEC reporter in good standing.[Color emphasis mine]

But in order for him to get this SEC Reporting doesn't he need those FIVE YEARS (2005-2013) of missing financials? I believe he does, so what if he can't get them?

Besides that, I'm wondering if GS can't get the missing financials, and also knows he can't get this SEC Reporting again, would it be legal for him to come off as if everything is fine and, perhaps, even announce a "merger" when he knows it won't or can't happen?

Just asking.

TIA

GLTA

P.S. On the bright side, if he can't get this SEC Reporting again, perhaps what GS could do is change the name of "American Blockchain Corporation" back to "Good Vibrations Shoes, Inc." and start selling vibrating shoes again.