Replies to post #7140 on David Lazar's OTC SPAC's/CUSTODIAN Plays

[N00B90]

They can still make requests to extend further but if a new custodian or owner doesn't make that request within the next 18 mo they screwed

[creede]

Hi Nefyn,

Your guess is as good as mine. The damn document is right at 300 pages long.

Now I do think I read that custodians get 18 months to bring the shell current.

I do not believe that applies to all companies.

Like take LMGR. I have had that stock since Nixon was president (or at least it feels like it).

https://www.otcmarkets.com/stock/LMGR/profile

Other than the CE Waring, it should be a prime target for custodians. It's even SEC REPORTING — which makes it more valuable.

It has not put out a filing in well over a decade. I do not think it's under that 18 month grace period.

But I could be wrong!

Does someone a lot smarter than me want to take a crack at translating this monstrosity?

SEC RULE: https://www.sec.gov/rules/final/2020/33-10842.pdf

PRESS RELEASE: https://www.sec.gov/news/press-release/2020-212

[GreekSeas0ning]

We good.