Replies to post #36701 on Southcorp Capital Inc (STHC)

[pastrychf05]

But he still would not have access to the OTC markets website, because the shell was not his legally

till the court discharge on December 9th. Then the OTC has to verify everything provided in their

application is true, then the company will be given access to upload filings and the company profile.

[AlwaysKing]

Yes! I have read that in the past too!

So, Ameca must have just recently sent the other required stuff to the OTC that was needed before the OTC could make any changes to the ticker, such as, the required fees, the lawyer letter(s) and the DE court discharge info, etc., etc., since we have seen the OTC remove the old company's info from the STHC ticker just over a week ago!

We can reason from seeing the deletion of the old company's info that the process of moving Ameca into the STHC shell/ticker is well underway!

[SooS416]

And otc markets would require proof of ownership which they did not have

Mark could not get the preferred shares until the court approval and has no ownership of the company.

And the fact that Ben didn't state they filed the OTC market application which he would have had to been a part of as custodian to me means they didn't file it as a custodianship and would need to show proof of ownership

[SooS416]

I would imagine they filed that with the assumption that the discharge would have come quickly, file the application, by the time OTC markets is done initial review the discharge is completed and you can send back the discharge to OTC markets to complete the proces. Being that it didn't happen until December things got derailed.

The only way for Mark to get access would have been to file with Synergy still as custodian, meaning that Synergy would still be the controlling entity and have ultimate control over the shell. I would imagine Mark not wanting to move forward with that type of arrangement and putting his and Ameca;s name out there on OTC markets with STHC when he legally did not own it or legally had any control meaning it could all have fell apart and not happened.

We all knew/assumed it was a no brainer approval, but there was an outside chance the Delaware courts denied the motion for dismissal and Mark would not have gotten control, in that even if he had updated OTC markets before hand and the stock ran accordingly based on the assumption of a closed merger for it later to be recinded it would be a bad look on Ameca for looking like a P&D happened.

So I understand why Mark would not want to update the info under a custodianship relationship application without the proof that he would get legal control, there are different applications for access via a custodianship relationship and one for a simple change in control.