Replies to post #197696 on Enzolytics Inc (ENZC)

[Dyno89]

Sorry, otc pink stocks do not need to notify shareholders in advance of things like this and only need to put things in the quarterly and yearly filings.

[TJ24]

Was ENZC supposed to notify ONLY the shareholders (and not the general public) about these future developments, so that the shareholders would have the chance to sell ENZC shares before the shares plunged in price?

If yes, would that not be illegal insider trading?

[sspalmo]

If it was an SEC reporting company they would have been required to file an 8K within 5 days of a material event. ENZC is not SEC Reporting. As to shareholder agreement on any change (whether minor or major) that would depend on the share structure and voting rights. It has nothing to do with whether they are listed on NASDAQ or OTC, or whether or not they are an SEC Reporting company to the best of my knowledge. If the party of four owned the majority of voting rights, then yes they could divide up the company any way they wanted. The four gave up their preferred shares for the SAGA deal, so do they have majority voting rights? Do the two that have currently voted have the voting rights after the SPAC deal? Was the SPAC deal valid?