OTCPK:GNOLF - Post by User
Comment by
DowntownCowtownon Apr 25, 2018 3:27pm
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Post# 27940019
RE:insanity
RE:insanityInteresting post. I'm pretty sure that the insanity is why Genoil has given up dealing with the ASC as they were made to jump through a lot of hoops to deal with their demands but in the end the lifting of the CTO was still denied despite all demands being addressed. As a concerned Canadian with a lot of shares I have done quite a bit of research on this and I have a question for the board: Currently Genoil is a Canadian company based in Calgary and their principal regulator is Alberta (hence the ASC) and their reporting jurisdictions are BC, Alberta, Ontario and Nova Scotia. As part of the process for the relocation to Curacao they need to obtain a release from Corporations Canada. Once this is done Genoil will no longer be a Canadian company and therefor no longer subject to their laws. My question is this: Once they are no longer a Canadian company they will be reporting to the SEC and not the ASC. If this is the case and they are in good standing with the SEC then will the ASC CTO no longer be valid/relevant? Everything I have researched says that once this happens then we should be free to trade. Looking forward to some INTELLIGENT responses on this...