Replies to Post #174562 onKMA Global Solutions International (KMAG)

Replies to #174562 on KMA Global Solutions International (KMAG)

12/10/13 1:37 PM

KMAG is said to be the buyer. BUYING the 51% of the other, not the them buying us.

So that's the latest rumor. And the rumored cost of the rumored acquisition is what? The last OTC filing (non-audited) showed $79.6K in cash. Must be a whopper acquisition.

Reid would have controlling interest in the combined companies....... so that means we blend together to form one entity......... Trading under another symbol.......... On a different level or exchange...........

Well, no. A grey stock company buying another grey stock, even non-reporting pink stock is still a grey stock. Still the same problem. Doesn't matter if one is asking a MM to sponsor a 211 for KMAG or for a new ticker, they will still want to see the stock registered with audited financials. Not to mention being able to see the Termination Notice from the SEC closing the investigation.

Neither doing a double back flip into a reporting shell in the aftermath provides a way around getting the stock registered. A reporting pink shell would have to file a S1 against the stock being issued to KMAG stockholders. Else the stock is restricted until they do submit a S1. Where the S1 would be subject to SEC approval.

The only way for KMAG to ever return to the pinks is for Reid to file a S1. It's the required first step. There's no reason why a 10-12G couldn't have been filed last March. With subsequent S1 approval in Sep. Yet Reid hasn't bothered to file a 10-12G. Until Reid files, and gets an S1 approved by the SEC, doesn't matter what the rumors say. Net result is KMAG remains a grey stock. And SEC civil litigation could occur against Reid in the coming year.