I believe the S-1 route will be used. Yes, it can go back and forth with the SEC until they receive enough info to approve. Then the waiting game with FINRA. It’ can take a long time.
This is not an interesting read. But after going through what is required I believe your estimate is way off. For a new company that has never been audited or listed publicly, maybe the length of time does stretch that far. First of all, IK has already been traded publicly via AMFE. Secondly, the audit that has been ongoing, answers each of the questions finra asks, according to this site. Third, finding a market maker to back this new security should be very quick due to their familiarity with AMFE. I would assume the MMs involved with AMFE and Roger have been doing very well with their interest here. It is possible that the spinoff and the process of listing has been part of the audit procedure, thus taking a little longer than expected. Pure speculation on my end just like you. All I know is that this company is exploding in growth and that if you are hooked up on the divi/spin, you are missing the big picture.
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