Salli Marinov, President and CEO of First American Stock Transfer, is available for consultation and guidance services on a per-hour basis. If you have need of her services, please contact the office directly. In addition, she has written a book about the transfer industry that includes basic knowledge and guidance. To order the book (shown under Products), contact the office by phone or email, or call 602-330-4304.
Shell or blank check companies are very problematic in the current environment. They are not able to have Rule 144 restrictions removed and will not be granted the ability to trade easily. For this reason reverse mergers with PinkSheet or Bulletin Board shell companies do not provide a viable avenue for a private company who wants to become public. Any private company wishing to become public will have an easier and less-expensive road if they pursue filing an S-1 Registration at the outset or a 15c-211 with FINRA and follow-on filings of Form 10s with the SEC.
For those companies that are already public, are no longer a shell company but have a shell company within their history, the only “cure” allowed by the SEC is to start filing Form 10-type information with the SEC. Once a full 12 months of Form 10-type information has been filed with the SEC in which the company has attested to no longer being a shell, restrictions on Rule 144 shares can normally be removed and the company can continue to trade.