Well I say just put out some news/updates and it will run on it's own. After that he can dilute in the run or raise the A/S then maybe down the road do an R/S..IMO
Actually TGGI was denied by FINRA after it went through a review.
This is very important because BCAP went through the same review in 2011 when the name change occurred.
Therefore TGGI is screwed on R/S or name change. BCAP already cleared a review in 2011 for a name change and will clear another review for the name change and a R/S.
The review is to see if the company which was reporting need to bring any reports current before the approval can be granted, nothing else.