Replies to post #169058 on Good Vibrations Shoes Inc (GVSI)

[Brucebannerr]

The Form 10 filing is expected to occur late in the first quarter of 2025 and the SEC typically requires 3 to 6 months for comments/question before accepting such a filing.

Whatever you say cockroach!

[surfkast]

You are a total and complete moron!
Oh wait! You only understand made up fantasies in your own mind.

American Blockchain Corporation to Raise $15 million
Good Vibrations Shoes, Inc.
Tue, Feb 6, 20243 min read

In This Article:
GVSI
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Henderson, NV, Feb. 06, 2024 (GLOBE NEWSWIRE) -- American Blockchain Corporation (“ABC”), trading as Good Vibrations Shoes, Inc. (OTCMKT: GVSI), announced today that it has entered into a non-binding Letter of Intent (“LOI”) with a privately owned Blockchain and Cryptocurrency enterprise, currently operating as an LLC.

In the interest of preventing any harassment of the LLC by the public, the parties have agreed not to identify the LLC until they have entered into a definitive agreement.

Under the terms of the LOI, GVSI will raise $15 million on a “best-efforts” basis for investment in the LLC, in exchange for 35% equity membership in the LLC. Potential GVSI investors have already been identified by the LLC, which has previously and privately raised $9 million under a $30 million valuation. By using GVSI as a conduit for investment into the LLC, GVSI shareholders have a potential opportunity to benefit from the growth of the LLC.

ABC’s CEO, George Sharp, has agreed to return his 300,000 Preferred “B” shares to treasury in exchange for 50 million new common shares, in order to more than offset any share issuances to new investors. Any new share issuances cannot have restrictions removed from them until the SEC accepts GVSI’s Form 10 filing, complete with two years of audited statements. The Form 10 filing is expected to occur late in the first quarter of 2025 and the SEC typically requires 3 to 6 months for comments/question before accepting such a filing. Furthermore, a lock-up agreement will ensure that divestiture of these new shares cannot take place before January 5, 2026.

The LOI also provides Worldwide NFT, Inc. (OTCMKT: WNFT) the opportunity to provide the final $2 million of the $15 million investment into GVSI, dependent on WNFT’s ability to raise these funds.

Under the LOI, a target date of March 15, 2024 has been set for execution of a definitive agreement, at which time the identity of the LLC will be revealed. That date may be extended by mutual agreement if necessary to facilitate GVSI’s raise.

As always, GVSI management implores potential investors not to risk indispensable funds and to understand that a Letter of Intent does not constitute a definitive agreement. Any investor should consider the possibility of losing their entire investment. There are no assurances that GVSI will be able to fulfill its obligations under the terms of the LOI.

About American Blockchain Corporation

American Blockchain Corporation dba Good Vibrations Shoes Inc. seeks investments or acquisitions in the blockchain/cryptocurrency arena. The company is headed by George Sharp, a longtime whistleblower, advocate against microcap fraud, and defender of shareholder rights. In addition to his continued participation in these activities, Mr. Sharp consults to public companies, attorneys and those associated with the financial markets. He is also a former consultant to OTC Markets Group, Inc.

https://finance.yahoo.com/news/american-blockchain-corporation-raise-15-200000406.html

[Major Profits]

"I'm totally UNFAZED by your BASHING ATTEMPTS>>LMAO George never said any such thing..."

Er, apparently he did.

https://www.otcmarkets.com/stock/GVSI/news/American-Blockchain-Corporation-to-Raise-15-million?id=429654

ABC’s CEO, George Sharp, has agreed to return his 300,000 Preferred “B” shares to treasury in exchange for 50 million new common shares, in order to more than offset any share issuances to new investors. Any new share issuances cannot have restrictions removed from them until the SEC accepts GVSI’s Form 10 filing, complete with two years of audited statements. The Form 10 filing is expected to occur late in the first quarter of 2025 and the SEC typically requires 3 to 6 months for comments/question before accepting such a filing. Furthermore, a lock-up agreement will ensure that divestiture of these new shares cannot take place before January 5, 2026.[Bold emphasis mine]

George Sharp - Advocate for truth in the OTC
@GeorgeASharp
Do not, Do Not, DO NOT invest money you can't afford to lose. Pay the rent and buy your kids food. $GVSI
GVSI
@OTCpinkGVSI
1h
$GVSI Name Change - The Issue, the Solution, and the Good News
https://pbs.twimg.com/media/GCcP6AvXEAAr7Tg?format=png&name=small
https://pbs.twimg.com/media/GCcQKhBXEAAsOTo?format=png&name=small
6:23 AM · Dec 28, 2023

The Issue
A couple of generations of management ago, GVSI used to be an SEC reporter, filing audit financials. The last of these audited financials was filed on February 14, 2008. Then, on June 26, 2008, GVSI filed notice of late filing for the first quarter of 2008 (blue).

On July 10, 2013, GVSI filed a Form 15, which is notice that the company doesn't intend to be an SEC Reporter any longer (yellow). However, in this case, the Form 15 was filed when GVSI was already 5 years deliquent in its rporting requirements. The filing of a Form 15 is only truly effective in absolving a company of its reporting requirements if that company is current in its reporting at the time of the filing.

Here, the filing of the Form 15 did not absolve GVSI of its delinquency. Nor does making the company Pink Current, as was accomplished during 2023. While the company is in good standing with the OTC markets, in the eyes of the SEC and FINRA, GVSI remains a deliquent reporter. FINRA will not process a corporate action such as a name change, symbol change or reverse (or forward) split while an issuer is deemed delinquent in its reporting requirements.

The Solution
In order for FINRA to process GVSI's corporate actions--FINRA does not approve actions, they only process them--GVSI will have to once again become a reporting issue in good standing. To do so, GVSI will have to file two years of audited financials within a Form 10 filing. Current reinstated as an SEC reporter in good standing.

The Good News
GVSI management believes that the company is close to a significant acquisition with two potential targets under serious review. Of course, as always, the mission is not complete until it is complete. Both potential targets understand the current issue with FINRA and neither forsees the issue as being a roadblock to an acquisition. GVSI is officially registered as "American Blockchain Corporation" with the state of Nevada. "Good Vibrations Shoes, Inc." and GVSI are equivalent to interim labels. Furthermore, neither potential target is interested in executing a reverse split at this time, as they are particularly attracted to the stock's liquidity.

Safe Harbor Statement
.........

Pretty sure (not positive) that IF and when this becomes SEC Reporting, then he'd have to file application(s) with FINRA for corporate changes adding additional time.

GLTA

$GVSI 2021-2024