Replies to post #144643 on Good Vibrations Shoes Inc (GVSI)

[Hi_Lo]

GVSI had previously applied to the SEC/FINRA for a change in corporate actions:

https://www.sec.gov/litigation/apdocuments/3-19407-event-1.pdf

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.

As stated in the SEC document above, the SEC declined GVSI's corporate actions. GVSI then appealed the decision on the SEC/FINRA declined corporate actions:

https://www.sec.gov/litigation/apdocuments/3-19407-2020-09-16-reply-to-finra-opposition-to-the-application-for-good-vibration-shoes.pdf

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 SEC/FINRA affirmed declining the change in GVSI's corporate actions so GVSI withdrew the appeal on the restriction so the SEC/FINRA dismissed the case which means the restriction on corporate actions are still in place.

For those wondering why $GVSI didn't file this sooner, counsel had quite a battle getting answers from FINRA and the SEC on how to end this unwinnable battle which was begun by previous management. We finally reached an agreement with the SEC.
https://t.co/KRN4h0hthw

— American Blockchain Corporation (@OTCpinkGVSI) June 4, 2023

So Sharp is basically admitting that getting GVSI's corporate actions approved by the SEC/FINRA is "UNWINNABLE."

If the SEC/FINRA administrative proceeding was "UNWINNABLE" then whatever "agreement" that was reached was not in GVSI's favor.

There's a reason why Sharp isn't bragging (as he usually does) about the "agreement." The "agreement" most likely is detrimental to GVSI.

The SEC doesn't open an administrative proceeding because a company is in violation of FINRA Rule 6490, just like it doesn't open an administrative proceeding when a stock becomes delinquent like GVSI currently is. It simply won't approve any corporate actions such as a corpote name change, ticker symbol change or reverse merger. This is the reality GVSI currently finds itself in.

Nobody is denying that the SEC/FINRA administrative proceeding for GVSI's appeal of the restriction on its corporate actions was dismissed. But trying to spin the "agreement" as a win with GVSI being able to do whatever it wants with the SEC/FINRA after withdrawing its appeal on its corporate actions restriction is false information. It's actually capitulating and losing the case. GVSI's withdrawl of the appeal is basically saying that getting the SEC/FINRA to approve a change in its corporate actions such as a reverse merger was "UNWINNABLE."

Especially since GVSI is SEC delinquent, is not SEC registered, is not SEC reporting, has a FINRA Notice of Deficiency, has a AEC restriction on its corporate actions and is is in violation of FINRA Rule 6490. Plus Sharp already said he ABANDONED getting GVSI audited which is a SEC requirement to get registered - and Sharp already said he abandoned getting GVSI audited and SEC registered and reporting.

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. https://t.co/tOP9FImksT

— George Sharp - Advocate for truth in the OTC (@GeorgeASharp) February 7, 2023

Our attorneys & auditors have concluded that it is impossible to audit $GVSI due to past corporate mismanagement of records/actions. Therefore, we are abandoning efforts to become an SEC reporter & are preparing an application for OTCIQ access to be filed with OTCM within 60 days

— American Blockchain Corporation (@OTCpinkGVSI) June 30, 2022

Notice I'm using verifiable links to SEC documents and Sharp's own tweets. Sharp supporters offer no info other than to say that it doesn't apply to GVSI yet never provide verifiable evidence proving why it doesn't. Saying that there are no issues with the SEC/FINRA is false information.

GVSI withdrawing its appeal of the SEC restriction on its corporate actions means the original restriction on GVSI's corporate actions such as a corporate name change, ticker symbol change and reverse merger remains in place because of GVSI's FINRA Notice of Deficiency, the SEC's restriction on its corporate actions and its continued violation of FINRA Rule 6490.