Replies to post #144654 on Good Vibrations Shoes Inc (GVSI)

[Hi_Lo]

Nobody said GVSI has open SEC/FINRA proceedings or disciplinary action. The GVSI appeal to the SEC restrictions on its SEC restriction on corporate actions was withdrawn, so the restriction remains in place.

GVSI had previously applied to the SEC/FINRA for a change in corporate actions and was denied by FINRA issuing GVSI a Notice of Deficiency because of six years of missing audited financials. And Sharp already said he abandoned getting GVSI audited and SEC registered and reporting:

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 decided and 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 GVSI being able to do whatever it wants with the SEC/FINRA after withdrawing the appeal on the SEC restricting its corporate actions which is actually capitulating and losing the case is false information. 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, is in violation of FINRA Rule 6490 and Sharp already said he ABANDONED getting GVSI audited which is an SEC requirement to get registered.

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, court documents and Sharp's own tweets. Sharp supporters offer no links other than to the SEC/FINRA open proceedings page which nobody said there were any to begin with.

Pumpers also falsely state that showing that GVSI withdrew it's appeal means GVSI somehow won because the withdrawl of the appeal and dismissal means there are no further issues with the SEC/FINRA which 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.


And now we have this from the most recent GVSI quarterly report:

https://www.otcmarkets.com/otcapi/company/financial-report/378041/content

List any stock split, stock dividend, recapitalization, merger, acquisition, spin-off, or reorganization either currently anticipated or that occurred within the past 12 months:

NONE

No merger to speak about - at all. Could GVSI's FINRA Rule 6490 violation and FINRA's Notice of Deficiency have something to do with this? Or is it the bloated AS of 7 BILLION AS and 2.4 BILLION OS that has something to do with it? Or could if be that no serious company would want to do a reverse merger with a company that is not SEC registered and reporting with six years of missing financials?

We have incurred nominal operations since custodianship and will actively search for suitable merger candidates to assist in the sustaining of operations. The Company is being funded solely by its CEO as of June 30, 2023, and has been since the custodianship was effective.

So not only is there no merger candidate, the search for one hasn't even started.

Again, I've been saying that there is no merger candidate to speak of for months, along with GVSI going sub-penny three times now and it will close sub-penny again soon.