Replies to post #225192 on Winning Brands Corporation (WNBD)

[THEBROKE1]

I think it’s a wrap. New rule will have this thing never trading again.

The company had no money. How can they get current with no money.

[doogdilinger]

The only real problem I see with the new SEC proposal on forcing all dark SEC filers to provide current information is the fact that OTC Markets is in control of the "going current" process not the SEC.

And as a private biz, OTC Markets can do whatever they darn well please to force OTC Companies who've filed to go dark from having to report fully audited fins with the SEC to play by OTC Markets rules whether good, bad or fugly.

Meaning not only can OTC Markets force OTC Companies to pay their $4K per annum subscription fees, they can arbitrarily decide for their own personal reasons to not restore an OTC Company back to current info status, even if/when an OTC Company has in fact already submitted their overdue financials and accompanying attorney opinion review letters once per annum to the OTC Markets platform.

That's the only part of the new SEC proposal that to me is a little dicey, because we've all encountered OTC PubCo's who have paid their OTC Markets subscription fees, have sent in their overdue fins to OTC Markets, and have supplied their accompanying attorney review letters...only to be dicked around by OTC Markets with endless run around answers as to why OTC Markets hasn't allowed them to regain current info status tier.

And I'm definitely not saying that's the case with WNBD. I'm just speaking in general OTC terms here...as there's been dozens upon dozens of OTC Companies every year who complain about the service they receive from OTC Markets even when they've already paid their $4K per annum subscription fees.

So I don't know if there's gonna be anything in the SEC's new proposal that addresses the actual service OTC Markets provides OTC PubCo's if these new current information SEC proposals go through.

And if there's nothing that deals with the potential OTC Markets delays that have effected hundreds of OTC Companies over the last several years from regaining current info in a timely fashion...then I can see a whole new level of chitstorm brewing in the new year in the OTC, because with that increased level of power within a private co.'s hands(OTC Markets), who the hell knows what bs may be coming in the new year if the proposed transparency change gets approved by the SEC!

It will certainly make joe retail traders a heck of a lot more cautious in the new year about playing any OTC PubCo's that aren't already listed on OTC Markets "Current Information" status tier right!