Replies to post #63912 on Auto Parts 4Less Group Inc (FLES)

[MyLife78]

Hopefully we get the same outcome as those 2... that would be the best PR we had from FLES is a denial from FINRA... go FINRA deny... deny... deny...

[work-n-hard]

ICTY hasn't filed anything with the SEC since 11-06-09 and there's no 14 in their OTC filings either?
And I don't even see a company ticker for MNRJ?

[work-n-hard]

" You obviously dont know the process. "

What is FINRA's role?

FINRA does not approve reverse splits, but it does process reverse stock splits as part of its functions related to company corporate actions in the OTC market. OTC companies must submit notice to FINRA 10 days prior to the record/effective date of the corporate action. Once a corporate action submission is successfully processed (which may take longer than 10 days), it will be posted to the OTC Daily List. The Daily List is a place investors can learn about reverse stock splits and other company corporate actions, such as a merger or acquisition, payment of dividends or a company dissolution or liquidation.


https://www.finra.org/investors/insights/you-asked-we-answered-what-is-reverse-stock-split

(Been busy on other trades, or I would have found this quicker.)

[justbecause516]

Finra will approve no problem.The company in its filings disclosed all debt all the time.The convertible debt is legal and the stock price is of no consequence to Finra as they understand "the deal". When you talk about the other 2 tickers you're talking about non filing P&D shells and so denial is done without further thought.The same cannot be said with this pos scam,its not a shell its an operating company and is shedding debt while building its brand as far as Finra will be concerned.