It may very well be the stupidest thing you’ve read in a while (along with the predicted LOL) but since you haven’t had any experience as an insider of OTC tickers or any tickers I can assure if you had you’d have found that’s a standard ploy used in numerous OTC Pump and Dump Scams.
That’s why I sold at $7.00 (actually $6.98) and never hold an OTC Position for very long with the exception of Private Placements in which I receive O.I.D’s, attorney fees and shares deeply discounted to the current market price. (Much like John Fife [Iliad] did for the years he was CVSI’s lone financier.
Yes, this John Millar Fife, a well known OTC toxic death spiral financier.
Look at all the lawsuits and SEC regulatory fines and suspensions of Fife.
Sometimes Fife used his wife as his proxy until she was permanently barred from any position by the SEC in 2015.
Fife himself was suspended by the SEC in August of 2007 which included his having to pay a hefty fine. The suspension was for a minimum 18 months before he could apply for reinstatement.
Unlike John who I financed one deal with and felt like taking a shower afterwards as the retail shareholders got burnt so bad, I don’t and won’t do floorless convertibles. I’m interested in investing in real companies with real potential to earn for their shareholders not just insiders.
I’m given those advantages as an accredited investor for having to hold restricted shares for either 1 year or six months due to SEC Rule 144 or in the case of convertible notes SEC Rule 144A which both bear a restricted securities legend which must be “cleared” prior to trading. The convertible notes I’ve acquired in these transactions are “restricted securities” within the meaning of Rule 144 and are initially required to bear a restricted securities legend. Rule 144, however, provides an exemption from the registration requirements, subject to certain exceptions, for transactions in such convertible notes (or the underlying common stock) if at least one year has passed from the date the notes were acquired from the issuer or an affiliate of the issuer (or six months if the issuer is a reporting company and has timely filed certain reports required under the Securities Exchange Act of 1934).
Most recent convertible notes offered in reliance on Rule 144A require the issuer to timely file its Exchange Act reports and remove the restricted securities legend after a fixed period of time (typically one year after issuance)I’m offered these regularly.
The request for an uplist to NASDAQ only costs $5,000.00 and then 75,000.00 upon approval. I was mistaken when I previously said $10,000.00 earlier. Regardless $5,000.00 or $10,000.00 CVSI got a huge PR Bump with one poster literally posting daily for 194 straight days, uplist coming, uplist coming, Tic Toc.
No, it’s not.
Citation for NASDAQ Uplisting Costs, NASDAQ Listing Requirements Guidelines Page 13 a picture of which I’ve been kind enough to screen shot and provide you below,
As you can clearly see the cost of application is only $5,000.00 less then a good meal along with a bottle of 2010 Château Pétrus.
But of course don’t believe an accredited investor who knows the scams of the easily manipulated OTC inside and out instead believe Mona and Dowling, one who barred by the SEC from holding any position in any public company and was on trial in California for fraud. After the trial, the court said he “intentionally defrauded” the plaintiff by “misrepresent[ing] material facts and conceal[ing] other material facts.” Mona walked away from that fraud instead of paying one penny of the 17 million dollar judgment by filing bankruptcy. The other a man who has both Federal and State Tax Liens on his record, one for well over $100,000.00 post fines and interest.
Ask yourself this, Who has a vested interest in misleading you?
This guy;
In 2011, Mona was on trial in California for fraud. After the trial, the court said he “intentionally defrauded” the plaintiff by “misrepresent[ing] material facts and conceal[ing] other material facts.” Mona was ordered to pay $16,886,132.16 for damages caused by his fraud. He filed Bankruptcy to avoid that fraud
(Source: Far West Indus. v. Mona, et al., California Superior Court, Riverside County, No. RIC495966.)"