Replies to post #133393 on Good Vibrations Shoes Inc (GVSI)

[Major Profits]

Please share where there is another restriction besides the proceeding that was just closed.

Er, huh? Does that even make sense? "another restriction besides the proceeding that was just closed." Pretty sure a "restriction" and a "proceeding" are two different things!

1) Restriction. FINRA denied past managements request for corporate actions (that is, their request for a name change, ticker symbol change and reverse split). Unless FINRA's denial decision is changed/overturned, that DENIAL still stands. There's not "another" restriction. Just that one.

2) The proceeding. I assume that means the submitted "Review Application" by past management in the attempt to OVERTURN FINRA'S denial decision. Well, that "Review Application" (Appeal) was recently withdrawn by GS. So the original FINRA decision still stands.

Gee, I dunno how to make that any clearer. But, whatever. lol

Oh, all JMOs!!

GL and have a great weekend HH!!

GO TRIFECTA!! GO GEORGE!! GO BOSTON 2024!!

[Yolo]

I cannot seem to find the current, open issues for GVSI with either FINRA or the SEC.

1- GVSI requested approval for a corporate action
2- FINRA denied the corporate action under 6490
3- GVSI asked the SEC to review the denial

That is what administrative proceeding file 3-19407 was, SEC review of action taken by FINRA (denial under 6490).

4- GVSI withdrew the application for review

That closed the SEC review. It didn't reverse the denial under 6490 by FINRA.


The denial by FINRA wasn't an "open proceeding" for the last three years, yet it still blocked GVSI from performing the corporate action. I suggest additional research to understand how this process works.