Verify Smart Corp. (VSMR)

[justhope]

I spoke with my lawyer friend yesterday as I wanted to understand a few points and how this affects VSMR.

He told me there are almost 4,000 companies cease traded in BC due to filing requirements.

The filings are simply a duplication of the filings any US company files with the SEC. Quite ridiculous when all one has to do is go online to review the SEC filings.

I asked him should a US company file with the BCSC, his reply was, why would a US company bother filing with the BCSC and the cost to do so, there is no advantage to a US company.

My concern was did the Cease Trade Order mean a company could not do business in BC. He said the Cease Trade Order has nothing to do with a company’s ability to do business in BC. Any US company that has a Cease Trade Order in BC can conduct business in BC.

Sounds like the BCSC is quite militant compared to other jurisdictions in Canada and the United States.

Happy New Year to all.