Re-domiciling a shell requires 2 crucial steps (Check with any securities attorney they will tell you the same thing)
1) you have to pay all the back taxes owed at the current domicile (for RSHN that was Nevada)
2) you have to file the proper paper work at the current domicile to move the shell to a new state - this can't be done unless the back taxes are paid and the entity is brought back to active status first
RSHN skipped those steps.
RSHN never paid the back taxes owed to the state of Nevada and RSHN never filed any paperwork with the state of Nevada to move the shell to a new state.
Randall Goulding did the same thing with GRPS. Goulding skipped the first 2 required steps:
1) Goulding never paid the back taxes owed to the state of Delware (which is boat load)
2) Goulding never filed anything with the Delaware SOS to move the shell to Colorado - which couldn't be done without paying the back taxes to bring the entity back to active status first.
I was the first person yesterday to post about the Gold River Productions Services Inc/XYZ Hemp Inc Colorado filing and later I added some thoughts about the XYZ Hemp IPO offering:
As of this moment the public ticker RSHN still technically belongs to the revoked Rushnet Inc entity in Nevada and the public ticker GRPS still technically belongs to the defunct Gold River Productions Services Inc entity in Delaware.
Does that mean the shells will stop trading? No of course not, but it will cause them Issues if they try to do any corporate action requests with FINRA for the tickers
Some people at FINRA are aware of the situation. So if RSHN or GRPS files with FINRA to have the names of their tickers changed they are very likely to run into problems because of it.
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