Actually only until Andrew and Alex have an opinion letter written and sent to the TA to remove the restriction (remember they have control here, and this isn't there first time doing this).
They just did a shell acquisition with a reverse split back in late April with another company (and diluted right away).
The promo groups on the OTC are getting caught and prosecuted....just a matter of time here
However, according to Rule 144(i)(2), an issuer can “cure” its shell status if the issuer: • has ceased to be a shell company as defined in Rule 144(i)(1); • mandatorily files reports with the SEC; • has filed all required SEC reports and other materials during the preceding 12 months (or for such shorter period that the issuer was required to file such reports and materials, other than Form 8-K reports); and • has filed current “Form 10 information” with the SEC reflecting the issuer’s status as an entity that is no longer a Shell Company, and at least one year has elapsed since such Form 10 information was filed.
FORM 10-K
(Mark One)
x ANNUAL REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended March 31, 2016
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ¨ No x
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