Replies to post #126673 on Good Vibrations Shoes Inc (GVSI)
04/01/23 2:59 PM
The plethora of partial name changes by previous management and its inept counsel didn't help $GVSI either and all that had to be unwound and mapped out.
Current management will be withdrawing the appeal filed by former management with the SEC of FINRA's denial of the name change.
FINRA's denial under Rule 6490 of the Company's requested corporate actions of a change of corporate name, symbol request and a reverse stock exchange pursuant to a merger on a one for twenty-thousand (I :20,000) basis (the "Corporate Actions").
FINRA initially declined to process the Company's Corporate Actions on June 21, 2019 by delivering a Notice of Deficiency Pursuant to FINRA Rule 6490.
FINRA also acknowledges that the denial is based solely on failure to file periodic reports from 2008 to 2013
FINRA has effectively terminated the life cycle of this corporate entity. Therefore, the Commission's enforcement of the instant deficiency determination would amount to a death sentence for GVSI
In sum, given the reasons set forth by the FINRA and the DOP in their determinations...the Commission's enforcement of FINRA's denial would effectively terminate the ability of GVSI to operate its business...
FINRA's deficiency determination and the Commission's affirmation of FINRA's deficiency determination would have the collateral consequence of preventing GVSI from ever conducting future corporate actions.
FINRA’s actions have effectively already murdered the Company and destroyed investment by its shareholders and other investors.
On March 20, 2019 (18 months ago), Applicant, Allied Corp. (previously Good
Vibration Shoes, Inc.) ("GVSI"), submitted an application to FINRA to complete a name change, obtain a new symbol, and conduct a reverse stock exchange pursuant to a merger, pursuant to FINRA Rule 6490. After months and months of delays, FINRA determined the application was deficient on June 21, 2019. Applicant filed an appeal to the Uniform Practice Committee of FINRA (the “Committee”) on June 27, 2019. On August 16, 2019...the Committee affirmed FINRA’s determination.
The Company’s many shareholders have essentially all lost their investment in the Company.
I had hope to start $GVSI as an SEC reporter, but after over a year of having two accounting firms work on it & discussions with the SEC, I begrudgingly agreed that I would not be able to get the books audited.
The plethora of partial name changes by previous management and its inept counsel didn't help $GVSI either and all that had to be unwound and mapped out.
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$FORW $GVSI $SRNW $WNFT~ George Sharp, OTC WHIZ, currently has 3 tickers doing reverse mergers & just announced news of a FORWARDLY potential acquisition, yet not much attention being paid here on Twitter. Love all 4 horses. “THE SUPERFECTA” 🐎🐎🐎🐎 https://t.co/t10BoeIpmS
— Avenir Homes (@HomesAvenir) April 1, 2023
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