Good Vibrations Shoes Inc (GVSI)

[Major Profits]

If it were that simple I would think GS would have done it long ago and especially before filing the application for the ticker/name change with FINRA and/or before talking with potential "merger" candidates. And, don't forget, he's been $GVSI custodian since May 4, 2021. THREE YEARS.

Anyhow, remember this tweet?

GVSI
@OTCpinkGVSI
$GVSI has finally received comments from FINRA who is concerned with acts by previous management, particularly, missing financials from that period. Management continues to cooperate with FINRA at its own expense in order to achieve the name & symbol changes.
9:50 AM · Nov 28, 2023

It's them missing financials that seem to tbe problem so this, imo, doesn't appear to be true:

2 years audited FINs gets it registered. Try to keep up with this OTC stock stuff, idiot. All other tickers have got it done

That's what Sharp said and that's what FINRA told him what it needs to get corporate actions approved...

No, Sharp said more than that:

George Sharp - Advocate for truth in the OTC
@GeorgeASharp
Do not, Do Not, DO NOT invest money you can't afford to lose. Pay the rent and buy your kids food. $GVSI
GVSI
@OTCpinkGVSI
1h
$GVSI Name Change - The Issue, the Solution, and the Good News
https://pbs.twimg.com/media/GCcP6AvXEAAr7Tg?format=png&name=small
https://pbs.twimg.com/media/GCcQKhBXEAAsOTo?format=png&name=small
6:23 AM · Dec 28, 2023

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 deliquent 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]

This has actually been discussed before:

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174221274

Take a look at a balance sheet and an equity statement. A number of those items require full and complete financial information to be accurate. An income statement is a snapshot of the 2 (or 3) years covered by the date of the statement, but a balance sheet and equity statement are since inception. If information is missing, it is impossible to present those statements accurately. Even 1 year's information that is missing can easily cause the financial statements to not be accurate, and therefore not auditable.

I think, maybe, GS threw up a "Hail Mary" application for that ticker/name change hoping FINRA would approve, er "PROCESS" it, but they didn't. So now what?

GLTA