Cheers Lesn,
While I did not make the claim of $1m that you refer to, I do carry first hand knowledge of what is required for Neom to regain its standing with the state of Delaware. At the time they lost their standing (I believe it may have been approx Feb 2016), they owed somewhere between $250K and $450K. I do not recall precisely, and it would have likely increased significantly since then. They will also be required to submit annual reports for missing years.
Also, I'd been advised that losing its status with Delaware does NOT preclude the company from conducting business. I was advised it merely causes them to lose their protection under the laws of the state of Delaware. Losing legal rights is a significant issue, however, according to Delaware it technically does not void them of the right to do business; it merely renders them vulnerable, which is one of several reasons I feel they established NM, LLC.
As with you, I am of the opinion YA is orchestrating "something" with regard to the shares. Neither of us carry any more than mere supposition, however, IMO it may have several folds to it. I personally feel YA has been converting the remaining shares for Neom to buy and thereby acquire equity, and that the company (Neom) continues to operate in the "Dark."
But tandem to that, I tend to feel YA is purposefully allowing "us" (the common shareholders) to purchase shares because they MUST have common shareholders to trade the stock when news is finally released. Should YA and Neom hold all the shares, the stock will NOT enjoy a free market. YA, and Neom will not be selling their shares and they need shareholders who WILL trade them.
It is also likely they need the stock to trade now, in advance of news, for several reasons. They will want the shares actively trading when the time comes, and they may also need it to currently trade in order for it to remain on the OTC/pink sheets (I cannnot be certain of this. All of this is supposition on my part).
As for Par value, they had changed this to "No Par Value" years ago, and ALL of the trading firms had it listed incorrectly as ".01" after the change. Therefore, had you called your broker "yesterday" and he advised it is lited as .01, I would still question it. We simply cannot rely on this (IMO). Neither you nor I know whether it was changed back to .01.
Again, all of the above is pure supposition on my part.
Best,
Be Confident
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