Business
AV1 Group Engages Securities Compliance Group as Legal Counsel to Initiate Form 10 Registration Statement
AV1 Group Engages Securities Compliance Group as Legal Counsel to Initiate Form 10 Registration Statement.
About this update from Omid Holdings, Inc.
[{"type":"text","content":"\n \n \n AV1 Group Engages Securities Compliance Group as Legal Counsel to Initiate Form 10 Registration Statement\n \n \nAV1 Group Engages Securities Compliance Group as Legal Counsel to Initiate Form 10 Registration Statement\n \n LA JOLLA, CA--(Marketwired - Jun 9, 2016) - AV1 Group, Inc. (OTC PINK: AVOP), a publicly traded investment and holding company, is pleased to announce that the Company has retained the legal services of Securities Compliance Group, Ltd. to assist the Company in preparing and filing a Form 10 Registration Statement with the Securities and Exchange Commission. The registration becomes automatically effective sixty days after the filing. Once effective, the Company will become subject to the reporting requirements of the Securities Exchange Act of 1934. \n \"The Form 10 Registration Statement plan is a significant move forward, as we look to provide the market and our shareholders with the complete transparency that comes with being a fully-reporting company,\" stated Bryen Beglinger, Chief Executive Officer of AV1 Group, Inc.\n He concluded: \"In light of our commitment to transparency, we believe that it is in the best interest of our shareholders to move up to the more notable OTCQB, where our Company will have greater visibility before a larger group of investors. We are excited to be moving in this direction, and believe that our shareholders will benefit greatly from these efforts. This will serve as an initial step in our long-term goal of meeting the listing requirement for NASDAQ Capital Market (Small Cap).\"\n The Company recently announced, in an effort to invest in long term growth, a special stock distribution has been approved to award shareholders of record as of June 30th 2016. All shareholders of record on that date will receive 2 additional shares of common stock for every 10 shares held. The new shares will be distributed in certificate form only and bear a restrictive legend under Rule 144 of the Securities Act of 1933. The Company plans to execute the special stock distribution as soon as practical after the record date with a target of July 15, 2016.\n AV1 Group, Inc. is a holding company that acts exclusively as an incubator, providing ancillary online services to the various segments of the cannabis marketplace. The Company is not in the cultivation, harvesting, or distribution s...