“The logical--and not new--conclusion is that Newbauer is an idiot.“
Let’s explore that further.
His attempt at quoted trading back in 2015 came down to the 211. BMAS sponsored a 211 after the Form 10 became effective…but it obviously got hung up at FINRA…probably due to the past suspension.
At some point Newbauer came up with the brilliant idea to confront FINRA himself by sending a letter, going around BMAS, and decided to try and edumacate them that the nonsense he PR’d which got him suspended in 2012 was protected by the Safe Harbor for forward looking statements.
Only problem was, somebody neglected to inform Mark that penny stocks are not afforded safe harbor protection.
He then went on a rant saying he had a recording of a discussion with FINRA where he was supposedly told the 211 would be approved and went on to say FINRA lied.
Shortly after that boneheaded move BMAS withdrew.
Without quoted trading he couldn’t raise cash which meant he couldn’t afford filing costs so he deregistered.
He is a moron beyond description.
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