SFLMaven Corporation (SFLM)

[just Scottie]

“Mr. MacKay continued, "In addition to the delays in the change of control process, immediately following our purchase of the controlling shares of SFLM, the Company became the subject of an SEC Action. The SEC Action arose out of the Company's Reg A offering originally filed in April 2019 and involved actions taken by the Company's prior management and legal counsel. We determined that the Company's best path forward, the path that impaired the least amount of capital, monetary and human, was to settle the SEC Action and, in a manner of speaking, get on with business. The Company agreed to the payment of a $25,000 civil penalty and to being ineligible to sell securities pursuant to Regulation A and Regulation D for a period of five years. In this regard, in March of this year, the Company submitted a waiver request, such that it would be able to avail itself of Regulation A and Regulation A; this waiver request is still pending."