Replies to post #20467 on Gifa Inc (GIFX)

[Checkfan]

They unfortunately don't publish dates.

[PENNIEStoSTACKS]

An issuer is required to obtain a new CUSIP for each change in its security, such as a name change, reverse split or reorganization. That issuer then submits the new CUSIP number to FINRA as part of its corporate action notification documents. Both FINRA and CUSIP notify the DTC of the new CUSIP number, which triggers a review of the security and a requirement by DTC that the issuer submit an opinion letter supporting the ongoing eligibility of the securities. Like with a DTC chill notice, the issuer is required to submit an opinion letter, prepared by independent counsel, confirming that the issuer’s securities deposited at the DTC satisfy the DTC’s eligibility requirements, including that they are freely tradable. In particular, the opinion letter must specify that the securities (i) are not restricted securities under SEC Rule 144(a)(3), or (ii) are exempt from any restrictions on transferability under the Securities Act. The DTC provides a template for the legal opinion to the issuer.