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Saturday, April 27, 2024 12:05:04 AM
The truth is, as long as we remain reporting to the SEC or Securities & Exchange Commission, there are no worries.
The SEC doesn't care and quite honestly has too much on their plate, as long as the quarterlies are filed on time and are truthful / not intentionally misleading shareholders.
The "big scare" with OTC reverse mergers and "shell companies" has to to with unscrupulous players who will try to take over shells for the sole purpose of pumping & dumping the stock, or intentionally misleading shareholders for their own benefit. Sounds a lot like Calasse, imo
Now, if you believe Sharp may be intentionally misleading shareholders or an unscrupulous player who is trying to intentionally deceive shareholders, then perhaps selling and/or moving on would be the best possible outcome.
That said, the 15c-211 would seem to be as easy as requesting a market maker file a form 211 with FINRA. The SEC issue has already been resolved, since WNFT is fully reporting, and definitely meets the minimum shareholder requirement.
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