Replies to post #77879 on Sun Pacific Holding Corp (SNPW)

[chemist72]

Under Rule 14c-2 promulgated under the Securities Exchange Act of 1934, as amended (the “Act”), the Corporate Actions cannot take effect prior to the filing of a Certificate of Amendment with the Nevada Secretary of State approximately twenty (20) days after the Mailing Date, which is anticipated to be on or about April 21, 2022.

This is a bit confusing isn't it?? LOL

Especially considering this statement in the 14c:

This Information Statement is being posted on or about October 13, 2023, to all Stockholders of record as of the Record Date.

[Dolly Llama]

The 14C gives the Board an R/S OPTION. Once effective it will give the Board the option to effectuate a reverse split at any time at its discretion. So the Board could choose to effectuate a reverse split, or chose not to.

https://www.otcmarkets.com/filing/html?id=16987750&guid=DB5-kanF-syeJth

On page 2 the 14C refers to the "Corporate Actions" that the Board approved on October 13th, 2023:

This Information Statement is furnished to holders of shares of common stock, par value $0.001 per share (the “Common Stock”), of Sun Pacific Holding Corp. (the “Company”). Our Board of Directors (the “Board”) approved on October 13, 2023 and recommended the approval by our stockholders, of the following corporate actions (“Corporate Actions”):

1. To authorize the Board the Option to effectuate a reverse stock split of our issued and outstanding shares of Common Stock (the “Reverse Stock Split Option”), at the sole discretion of the Board at a ratio of 4,000:1.

Note the use of the word "Option".

Then on page 3 it says that the "Corporate Actions" (not the reverse spit) will become effective 20 calendar days after the 10/13/2023 filing:

The adoption of the foregoing Corporate Actions will become effective 20 calendar days after the posting of this Information Statement.

So this filing doesn't say that a reverse split will become effective on November 22. It says that starting on that date the Board will have the option to effectuate a reverse split.

As we know, the Board has given itself similar options in the past several times without actually effectuating a reverse split. This time they gave an exact number of 4,000:1 as the split ratio rather than giving a possible range, and they haven't put a one-year expiration date on their option.

So will a reverse split actually happen this time? Time will tell.

[wallstreet1231]

Refer to the link I included in my post.

[Dolly Llama]

The 14C gives the Board an R/S OPTION. Once effective it will give the Board the option to effectuate a reverse split at any time at its discretion. So the Board could choose to effectuate a reverse split, or choose not to.

https://www.otcmarkets.com/filing/html?id=16987750&guid=DB5-kanF-syeJth

On page 2 the 14C refers to the "Corporate Actions" that the Board approved on October 13th, 2023:

This Information Statement is furnished to holders of shares of common stock, par value $0.001 per share (the “Common Stock”), of Sun Pacific Holding Corp. (the “Company”). Our Board of Directors (the “Board”) approved on October 13, 2023 and recommended the approval by our stockholders, of the following corporate actions (“Corporate Actions”):

1. To authorize the Board the Option to effectuate a reverse stock split of our issued and outstanding shares of Common Stock (the “Reverse Stock Split Option”), at the sole discretion of the Board at a ratio of 4,000:1.

Note the use of the word "Option".

Then on page 3 it says that the "Corporate Actions" (not the reverse spit) will become effective 20 calendar days after the 10/13/2023 filing:

The adoption of the foregoing Corporate Actions will become effective 20 calendar days after the posting of this Information Statement.

So this filing doesn't say that a reverse split will become effective on November 2. It says that starting on that date the Board will have the option to effectuate a reverse split.

As we know, the Board has given itself similar options in the past several times without actually effectuating a reverse split. This time they gave an exact number of 4,000:1 as the split ratio rather than giving a possible range, and they haven't put a one-year expiration date on their option. But like before it is an option.

So will a reverse split actually happen this time? Time will tell.