Replies to post #185703 on DD Support Board and Research Team

[HATTER]

Thanks nodummy. This one is interesting, it’s so messed up that I doubt it could possibly be contested. Nobody knows who owns it. Lol

[Major Profits]

So, some 15 months after going the "SEC Form 10 Route", George Sharp tweets this:

George Sharp Retweeted
GVSI
@OTCpinkGVSI
Our attorneys & auditors have concluded that it is impossible to audit $GVSI due to past corporate mismanagement of records/actions. Therefore, we are abandoning efforts to become an SEC reporter & are preparing an application for OTCIQ access to be filed with OTCM within 60 days
5:28 AM · Jun 30, 2022·Twitter Web App

Any guesses of what might happen next? (Pink current?)

TIA

[Bag_Collector]

Great call here. You have any thought what is going to happen with this now?

[Major Profits]

Never forgot this post by nodummy.

The best chance for GVSI would be to file a Form 10 and two years of audited financials to register it with the SEC, basically giving the shell a fresh start.

TWO YEARS AND SEVEN MONTHS LATER:

George Sharp - Advocate for truth in the OTC
@GeorgeASharp
Do not, Do Not, DO NOT invest money you can't afford to lose. Pay the rent and buy your kids food. $GVSI

GVSI
@OTCpinkGVSI
1h
$GVSI Name Change - The Issue, the Solution, and the Good News
https://pbs.twimg.com/media/GCcP6AvXEAAr7Tg?format=png&name=small
https://pbs.twimg.com/media/GCcQKhBXEAAsOTo?format=png&name=small
6:23 AM · Dec 28, 2023

The Issue
A couple of generations of management ago, GVSI used to be an SEC reporter, filing audit financials. The last of these audited financials was filed on February 14, 2008. Then, on June 26, 2008, GVSI filed notice of late filing for the first quarter of 2008 (blue).

On July 10, 2013, GVSI filed a Form 15, which is notice that the company doesn't intend to be an SEC Reporter any longer (yellow). However, in this case, the Form 15 was filed when GVSI was already 5 years deliquent in its rporting requirements. The filing of a Form 15 is only truly effective in absolving a company oif its reporting requirements if that company is current in its reporting at the time of the filing.

Here, the filing of the Form 15 did not absolve GVSI of its delinquency. Nor does making the company Pink Current, as was accomplished during 2023. While the company is in good standing with the OTC markets, in the eyes of the SEC and FINRA, GVSI remains a deliquent reporter. FINRA will not process a corporate action such as a name change, symbol change or reverse (or forward) split while an issuer is deemed delinquent in its reporting requirements.

The Solution
In order for FINRA to process GVSI's corporate actions--FINRA does not approve actoins, they only process them--GVSI will have to once again become a reporting isssue in good standing. To do so, GVSI will have to file two years of audited financials within a Form 10 filing. Current reinstated as an SEC reporter in good standing.

The Good News
GVSI management believes that the company is close to a significant acquisition with two potential targets under serious review. Of course, as always, the mission is not complete until it is complete. Both potential targets understand the current issue with FINRA and neither forsees the issue as being a roadblock to an acquisition. GVSI is officially registered as "American Blockchain Corporation" with the state of Nevada. "Good Vibrations Shoes, Inc." and GVSI are equivalent to interim labels. Furthermore, neither potential target is interested in executing a reverse split at this time, as they are particularly attracted to the stock's liquidity.

Safe Harbor Statement
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