Eco Innovation Group Inc (ECOX)

[BigBadWolf]

Following two rounds of comments, the Company has provided additional requested information and continues working through the FINRA corporate action process.

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Under FINRA Rule 6490, when an OTC company requests a corporate action, FINRA reviews the request to ensure it complies with SEC rules and doesn't pose a risk of fraud to investors. A clean submission usually sails through in 10 to 14 days with zero or minimal comments. Now a round one of FINRA questions is very common. FINRA might ask for clarification on the cap table, want to see specific shareholder agreements, or ask for details on a recent merger/acquisition. However 2 rounds of comments (Where ECOX is now) means the company responded to the first set of questions, and FINRA still wasn't satisfied, or the first response opened up a new can of worms. $Fact Now to be clear having two rounds of comments doesn't necessarily mean the corporate action is doomed, but it does mean it is facing heavy scrutiny. Especially in the microcap/OTC space, multiple rounds of FINRA comments usually stem from unclear ownership or toxic convertible debt that FINRA wants untangled. FINRA does deep background checks. If anyone involved (officers, large shareholders) has a regulatory history, FINRA will drill down. Sometimes companies submit hasty paperwork, forcing FINRA to act as an editor. At this stage, ECOX is in a holding pattern because they have submitted the additional requested information, the ball is currently in FINRA's court. FINRA has no strict legal deadline to approve it & they will take as long as they feel is necessary to protect investors.