Doing an IPO can take a few months.
But let me remind you that buying a dirty shell can take a long time too. Jason acquired the LDSR shell in early December 2017. Here we are almost to July 2018 and he still hasn't completed his merger. That's over 6 1/2 months. Most IPOs take less than 6 1/2 months.
And if FINRA refuses to approve his corporate actions either because of the dirty mess created between the NV entity and NC entity or because of the ugly debt situation combined with other shell issues there is a chance that the reverse merger may never be completed.
Plus Jason ended up with a shell that has a $125,000 debt Note that can become 2,500,000,000 free trading shares of stock. By doing an IPO he would have had a clean path to going public. Jason would have had no outstanding stock except what he issued and Jason would have inherited no third party debt. That means he would have had a public vehicle that was trading at a higher price that was registered with the SEC offering him the opportunitey to raise a lot more capital for his business operations.
The only reason to go public through a dirty pink sheet shell is because it is cheaper and as a pink sheet shell you don't have to report to the SEC so your filings are not regulated. You can basically say anything you want in your OTC disclosures without having to worry about scrutiny from the SEC.
It makes perfect sense for Jason to go public by merging into an old dirty pink sheet shell until somebody says the plan is to do an audit and to uplist.... then it makes absolutely no sense. If that is the plan he could have spent less money and just gone public through a registration statement (S-1 or Form 10).
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