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G-OiL-D

02/15/23 9:12 PM

#1788 RE: mareen #1787

Hi nareen, I really haven't went through the latest filiings
due to some other issues. I will try to decipher them a little later.
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G-OiL-D

02/15/23 11:08 PM

#1789 RE: mareen #1787

I just when through the filing. Seeing only the Delaware
issue mentioned, it's possiblely the only remaining problem to be corrected.
Reading a brief description of the Delaware Court of Chancery, it would appear they have quite a bit of flexability in resolving cases. Hopefully, this issure will be resolved in a timely and positive manner.
https://corplaw.delaware.gov/delaware-court-chancery-supreme-court/
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WeTheMarket

02/16/23 9:57 AM

#1797 RE: mareen #1787

Mareen, another company I am invested in, Lordstown Motors (symbol RIDE), has a hearing on February 20, 2023, on this same exact issue.

This was documented in a recent 8-k (by Lordstown Motors, dated February 8, 2023, link https://ih.advfn.com/stock-market/NASDAQ/lordstown-motors-RIDE/stock-news/90066602/current-report-filing-8-k) which states "The Company continues to believe that a separate vote of Class A common stock was not required to approve the 2020 Class A Increase Amendment. However, in light of a recent decision of the Delaware Court of Chancery (“Court of Chancery”) that created uncertainty regarding this issue, the Company has filed a petition in the Court of Chancery pursuant to Section 205 of the Delaware General Corporation Law seeking validation of the 2020 Class A Increase Amendment and the shares issued pursuant thereto to resolve any uncertainty with respect to those matters. Section 205 permits the Court of Chancery, in its discretion, to validate potentially defective corporate acts and stock after considering a variety of factors."
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BioChica

02/16/23 10:47 AM

#1799 RE: mareen #1787

I think we are looking at two different issues here, Class 'A' shares issued and NASDAQ delisting regarding lack of financial reporting. NASDAQ will determine the delisting/extension 15 days from the filing date of February 10th, 2023. Which would be February 25th, 2023.