Replies to post #58683 on Top Shelf Brands Holdings Corp. (DKTS)

[Carini]

The shares for common shareholders almost certainly would be restricted, but I believe there is a rule that provides an exception for unregistered shares that are issued for payment of certain kinds of debts that would allow them to issue shares to the old lenders that could be immediately dumped into the market. Will have to look it up later. I think it's the one they used to issue those 125MM shares to Huffman for the legal settlement though, and may have been mentioned in the PR announcing that deal

[Carini]

Here it is (I'll quote the whole PR because it's good for a laugh, but what I was talking about is in the third paragraph):

HOUSTON, TX / ACCESSWIRE / February 6, 2015 / Top Shelf Brands Holdings, Inc. (a Nevada Corporation) (OTC Pink: DKTS), is pleased to provide a look back at the 2014 corporate year as well as provide a few updates from its current operations.

2014 was a year of tremendous trial and tribulation for Top Shelf Brands but the company is pleased to report that it is now more solvent and stronger than ever and is poised to move forward in 2015 with the implementation of its aggressive corporate business plan.

The headline news for the year was clearly the settlement agreement reached with Victory partners, LLC that avoided a potentially lengthy and costly court battle. The company is pleased to announce that all 125,000,000 shares issued to Victory Partners have been absorbed into the market. All of these shares were sold directly from Victory Partners, via private placements using the 3 A (10) exemption, and subsequently sold into the market.

The positive news was extremely strong in latter part of the year. FINRA gave the company complete legitimacy by validating all of the corporate actions taken by CEO Alonzo Pierce. The company will file a Form 10 by the end of the first quarter of 2015 and continue to have the DTCC chill removed.

http://finance.yahoo.com/news/top-shelf-brands-provides-2014-161800167.html

Kind of funny that at the time AP was announcing this, and unbeknownst to shareholders and lenders, the plan to move everything to ISBG had already been underway for 4-6 months or so...

[Carini]

Actually it looks like that exemption requires approval from "a court or authorized governmental entity." Wonder if there was some legal filings nobody found yet?

Or it could just be that since the transaction was so long ago they are just calling the debt aged and using Rule 144 like usual toxic note holder conversions.

[loanranger]

Do you really think that the same people who fraudulently failed to see to it that the DKTS shareholders received the 90+million ISBG shares that they were entitled to based on the terms publicly announced by DKTS are now going to issue a billion shares (give or take) based on their current value to those shareholders so that they aren't harmed by that fraud?

Sounds like somebody has found some of that alleged inventory.
Then again, stranger things have happened. Almost all of them involving Alonzo Pierce.

[DaBenDan]

Restricted for a year would be more BS. They going to hold onto them for us as well [again].

Keep on it.