Member Earned Share Issuance – Delay

By: Robert Grosshandler | June 21, 2017

By design, members’ shares earned on or after April 1, 2017 have not been issued and transferred as of June 21, 2017.  Our long term plan is to make it possible for members to instruct us in an automated fashion as to when they’re ready to have shares issued and transferred.  That is, we’ll do the issuance and transfer automagically, on demand.  Until then, we plan to issue and transfer everybody’s shares on a regular basis – once a quarter is the current thinking.

Which would mean that the next issuance and transfer is due to happen the first week of July.  But that isn’t going to happen, because we can’t issue and transfer shares unless we have an “effective” offering qualified by the SEC.  And we won’t have that until we submit an offering for the SEC to  qualify.  And we’re not doing that until FINRA gives us a ticker symbol.  Which is “soon”.

Bottom line.  We aren’t going to issue and transfer members’ earned shares again until we can legally do so, which may happen in July, but more probably August.  They don’t go away, we’re keeping track of them.

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