It is my understanding that Matt has to wait until FINRA approval of the name/symbol change so he can register the shares of BDCI/Cannabis and then do an offering/private placement of shares to get cash.
I doubt he has any money to move this forward without selling BDCI/Cannabis shares. That's probably why everything is stalled.
My concern is that, will there be any takers for the share offering? If so, how much of TGGI's 63% ownership of BDCI/Cannabis be diluted? Also, how many new shares of BDCI will he have to issue to raise cash? Will BDCI become a new share selling machine? What will Matt do with the proceeds exactly? Is there any oversight of how he will move forward?
Also, I believe BDCI was supposed to do a merger of some sort with Matt's other ticker, exad, but that symbol got suspended, so now he's trying to make it happen with TGGI. So, perhaps FINRA is looking carefully at BDCI to see how toxic it is or isn't before allowing the name/symbol change, so innocent shareholders aren't duped.
Anyway, we need Matt to release news in a clear and precise manner to answer the above. We don't have a clue and he's keeping tight lipped for a reason. Just meaningless tweets.
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