Replies to post #7290 on Energy Finders Inc (EGYF)

[trader59]

Not sure I said never, you'd have to link me to that. I surely made remarks about the company stating directly in their disclosures they had no business operations. Little doubt that was pointed out by OTC markets, so this company changed it to say:

A. Summarize the issuer’s business operations (If the issuer does not have current operations, state “no operations”)
As of April 1st, 2022, we are an active technology company initially focused on “smart energy harvesting” products
through innovation.

Which is complete BS, since there are still no assets other than cash. Here's what the SEC says a shell is:

Shell company. The term shell company means a registrant, other than an asset-backed issuer as defined in Item 1101(b) of Regulation AB (§ 229.1101(b) of this chapter), that has:

(1) No or nominal operations; and

(2) Either:
(i) No or nominal assets;
(ii) Assets consisting solely of cash and cash equivalents; or
(iii) Assets consisting of any amount of cash and cash equivalents and nominal other assets.

Anyway, that stock was awarded on 4/1/22, so expect major pumping when it becomes available to sell. "Services rendered" must be a pretty good gig...

[Citrati]

Thanks for the posts. Nice that you would complete the picture on rule 144 so readers don't just accept incomplete information.