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Thursday, October 14, 2010 1:30:51 PM
Remember, they've stated (as if that means much), it's supposed to uplist. This requires a lot more scrutiny from the SEC and will get it. The SEC in all of its faults, are at least giving these reverse mergers, shell buyouts, or the like a bit more approval processes these days. They have to approve it and that takes a bit of time by itself even after the initial S-1 filing.
Now, I would suspect, again if it happens, that they might not uplist and only be another non reporting, non audited pinky company and have some bla, bla, bla, on some PR explaining away the reality of it. Just a possibility, but it will be easier to get it through to not uplist.
But if they really do uplist, that will take some audited financials and a lot more process and harder to do, especially the way DF and company has been doing things.
Why most large and reputable legal firms don't even touch pinky shell buyouts with a ten foot pole. Way too much baggage and liabilities that come with most pinky shells.
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