If FINRA said it could take over 14 months, then that very likely means they are doing a full-blown investigation. And, I think he should have said 14 months to make a decision on whether they would process the RS
FINRA does not "approve" reverse splits. They process them. Unless they suspect FRAUD.
And to correct my typo... It was 14,500,000,000 AS
IMO - this is the 100% spot-on accurate analysis and "operative word(s)" being FRAUD and/or FORMALLY INVESTIGATED !
1) FINRA would not "normally" give a specific time period or length of time to merely process a reverse split and SURE AS HECK NOT freaking 14 months ?
2) Thus, for Jake Noch to MAKE THE STATEMENT HE DID and do it "ON THE RECORD" and he did it both in-writing and I believe on a Youboob "interview" combo pump n whine n cry session aka Buffalo Dung Fireside Dump n Pump Session or whatever it was - thus, Jake "KNOWS" and was told "You're screw brotha for at least 14 long months - that's our estimate we're giving you and good luck and good night, Love FINRA"
3) THAT MEANS IMO as tdbowie says above - I believe Jake "knows" this train wreck is under some sort of "Formal SEC investigation" !!!
4) I'd also put some Vegas odds down that Jake knows this POS is teetering on barely surviving mode
FINRA "processes" R/S APPLICATIONS they do not "approve" them - and as stated, it ain't 14 months "normally" so WHAT does FINRA say can delay/cancel/kickback/reject an APPLICATION for an R/S and other certain securities actions - well lets read it kids.....
AFTER AN APPLICATION HAS BEEN SUBMITTED (you folks can read the entire page and figure it out) but after and IF FINRA THINKS SOMETHING IS WRONG WITH THE APPLICATION and/or THE COMPANY and/or a COMPANY OFFICER ETC - here it be in their own words :
(3) Deficiency Determination In circumstances where an SEA Rule 10b-17 Action or Other Company-Related Action is deemed deficient, the Department may determine that it is necessary for the protection of investors, the public interest and to maintain fair and orderly markets, that documentation related to such SEA Rule 10b-17 Action or Other Company-Related Action will not be processed. In instances where the Department makes such a deficiency determination, the request to process documentation related to the SEA Rule 10b-17 Action or Other Company-Related Action, as applicable, will be closed, subject to paragraphs (d)(4) and (e) of this Rule. The Department shall make such deficiency determinations solely on the basis of one or more of the following factors: (1) FINRA staff reasonably believes the forms and all supporting documentation, in whole or in part, may not be complete, accurate or with proper authority; (2) the issuer is not current in its reporting requirements, if applicable, to the SEC or other regulatory authority; (3) FINRA has actual knowledge that the issuer, associated persons, officers, directors, transfer agent, legal adviser, promoters or other persons connected to the issuer or the SEA Rule 10b-17 Action or Other Company-Related Action are the subject of a pending, adjudicated or settled regulatory action or investigation by a federal, state or foreign regulatory agency, or a self-regulatory organization; or a civil or criminal action related to fraud or securities laws violations; (4) a state, federal or foreign authority or self-regulatory organization has provided information to FINRA, or FINRA otherwise has actual knowledge indicating that the issuer, associated persons, officers, directors, transfer agent, legal adviser, promoters or other persons connected with the issuer or the SEA Rule 10b-17 Action or Other Company-Related Action may be potentially involved in fraudulent activities related to the securities markets and/or pose a threat to public investors; and/or (5) there is significant uncertainty in the settlement and clearance process for the security.
(4) Notice Regarding Determination If the Department determines that a request to process documentation related to a SEA Rule 10b-17 Action or a Other Company-Related Action is deficient, FINRA staff shall provide written notice to the Requesting Party. Any notice issued under this paragraph shall state the specific factor(s) that caused the request to be deemed deficient and the Requesting Party may appeal a determination pursuant to paragraph (e) of this Rule.
(5) Notice Issuance A notice issued under this paragraph shall be issued by facsimile or electronic mail, or pursuant to Rule 9134. (e) Request for an Appeal to Subcommittee of Uniform Practice Code Committee A Requesting Party issued a notice under this Rule may appeal a determination made under paragraph (d)(3) of this Rule to a three-member subcommittee composed of current or former industry members of FINRA's Uniform Practice Code Committee in writing via electronic mail, unless an alternative method of service is ordered by the Adjudicator, within seven calendar days after service of the notice. Service of the appeal by electronic mail shall be deemed complete upon sending. The written request for an appeal must be accompanied by proof of payment of the non-refundable Action Determination Appeal Fee. A request for an appeal must set forth with specificity any and all defenses to the Department's determination that a request was unacceptable or otherwise deficient. An appeal to the subcommittee shall operate to stay the processing of the company-related action (i.e., the requested company-related action shall not be processed during the period that the Requesting Party requests an appeal or while any such appeal is pending). Once a written appeal has been received, the Requesting Party may submit any additional supporting written documentation via electronic mail, unless an alternative method of service is ordered by the Adjudicator, up until the time the appeal is considered by the subcommittee. The subcommittee shall convene once each calendar month to consider all appeals received under this Rule during the prior month. The subcommittee shall render a determination within three business days following the day the appeal is considered by the subcommittee. The subcommittee's determination shall constitute final action by FINRA. The subcommittee's determination shall not constitute an estoppel as to FINRA nor bind FINRA in any subsequent administrative, civil, or disciplinary proceeding. If the Requesting Party fails to file a written request for an appeal within seven calendar days after service of the notice by the Department, the Department's determination shall constitute final action by FINRA.
There ya have it folks - 14 months IMO is a "known date" to Jake Noch as IMO he's been advised BY LEGAL COUNCIL that, "You ain't got a chance at this R/S and IF FINRA and/or THE SEC from what we've heard so far ever processes it and/or you EVER get out from this formal investigation- you be looking at well over a year passing and probably 14 months at least is the word they gave us" blah blah blah....
AND - ya want another "tell card" flipped on the poker table - REMEMBER KIDS...JAKE NOCH issued notice "I AM RESIGNING AS CEO" and then later yanked it back...as if ANYONE was going to ride into this shit storm willingly and take over the hustle - I mean you'd have to be dumber than a broken brick to get willingly entangled in this clown show....
Mr. Noch intends to remain in his current position until the completion of the reverse stock split and other strategic initiatives, including the appointment and training of new CEO(s) and other executive team members. His Family Office, through a court-approved 3(a)(10) exemption arrangement, will continue to play an integral role in funding the company’s operations, ensuring the maintenance of salaries, including Mr. Noch’s own salary, to avoid triggering the severance package outlined in the court-approved agreement. Mr. Noch aims to be classified as a Non-affiliate to ensure operational stability and will encourage the acquisition of royalty stakes using the court-approved 3(a)(10) exemption in his employment agreement.
**LETTER TO SHAREHOLDERS FROM THE DESK OF JAKE P. NOCH**
Dear Valued Shareholders,
I trust this message finds you well. It is with a profound sense of responsibility and after considerable introspection that I share a momentous decision that will profoundly impact the future trajectory of Music Licensing, Inc.
This decision has not been arrived at lightly, and I have taken the time to delve deep into the heart of our company’s journey. It is with sincere introspection that I’ve come to the realization that my role as the founder and CEO may not be the best fit for the evolving needs and aspirations of Music Licensing, Inc. Despite my unwavering belief in the company’s potential, I acknowledge with humility that I’ve fallen short of the ambitious goals I set for myself.
After careful consideration, I’ve made the difficult choice to step down as CEO. This decision is not a hasty one; rather, it is a result of a prolonged and thoughtful examination of what is in the best interests of Music Licensing, Inc. and, by extension, its valued shareholders. To ensure a seamless transition, I will be actively involved in selecting a new CEO who can bring a fresh perspective and the necessary expertise to lead the company into its next chapter.
ALSO - remember this jack wad Noch SUED THE OTC MARKETS GROUP and sued FINRA - and I believe that as of now the OTC GROUP has counter-sued Noch and this shit show. HOW TO WIN FRIENDS AND INFLUENCE PEOPLE - by I'M A DUMB ASS RICH KID PUNK......yeah bro....SUE um and then wonder when they put you and your little scam on ice and chill it to nuclear physics sub zero temps.....me....I bet they put this ticker in legal purgatory for pulling a circus stunt like these lawsuits......
I think that's why POOF - ole JAKE was suddenly doing the "I THINK I BETTAS JUS RESIGNS n GETS THE HELL OUTTA HERE" and then then then he goes for PR like he's kicking into a whole new sham aka the "LETS PICK OFF SOME DEAD SHELLS AND SEE IF WE CAN LIGHT THEM UP" - his latest shit show he stepped into for those that don't know.....
https://finance.yahoo.com/news/jake-p-noch-family-office-130000217.html THE KID - is supposedly going to take a swing at re-lighting up the scam BAD DIRT MINING INC and I think about 5 other other deader than bad dirt EXPERT MARKET shit heaps - that appears to be his new "gig" since he was so successful on this one LMAO !!!
THE KID WAS PULLING THE EJECTION HANDLE WANTING THE HELL OUT OF THIS FLAMING HEAP OF WRECKAGE - as if he actually had a lucid moment and maybe a micro cell of survival instincts...BUT...then he punted and went coward mode and decided to play LAWFARE and LETS THREATEN INNOCENT PEOPLE and go "Gangsta boy" shit for brains....you all know the rest of how the movie went and now how it's going to end.....:))
Posts contain only my amateur opinions, personal views and thoughts. I discuss stocks as a hobby only. Always do one's own due diligence before investing.
