The State of AZ does not need fins, it just needs a simple one page form listing the officers and directors of paychest. May cost $25-$35 to file.
The reason the company is pink limited is they refuse to have an attorney file a Current Opinion Letter, claiming it does not make sense a face to face meeting between the attorney and company is required in order for the attorney to issue the opinion. In reality, a skype video meeting where the company officer shows his ID to the attorney is sufficient. Cost of opinion letter is $500-$1,000.
The unsolicited quote has to do with the sponsoring MM that filed the 15c-211. They obviosly did not feel like taken on the risk, but processed the form via finra.
PHO*T had/has the same issue, but PHO^T was previously suspended and sent to the greys. They were also fully reporting prior to the suspension and continued to file.
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