Puget Technologies (PUGE) Risk Analysis
Risk Overview Q3, 2020
Risk Change Over Time
No filing history is available.
Risk Highlights Q3, 2020
Risk Word Cloud
Risk Factors Full Breakdown - Total Risks 15
- Share Price & Shareholder Rights - Risk 1No Independent Members of the Registrant's Board of Directors
Because both of the current members of the Registrant's Board of Directors are officers and controlling stockholders there are no independent members such as would be required for audit, nomination and compensation committees should the Registrant seek to list its securities on major exchanges, nor to assure by their presences and their votes that conflicts of interest would be independently resolved. The Registrant has chartered a board of advisors (see "Board of Advisors") from which it eventually hopes to recruit competent, talented and well connected independent members for its Board of Directors, however, because the Registrant's current directors have a majority of votes at any stockholders meetings, they would have the ability to prevent the election of any person of whom they did not approve. The Board of Advisors will have committees including independent members to deal with audit and compensation matters but all recommendations of the Board of Advisors must be approved by the Registrant's Board of Directors, thus, to some extent, negating the impact of such committees. Notwithstanding the foregoing, as disclosed above, the Registrant is currently seeking qualified additional directors, one third of whom are expected to be independent thus remedying the foregoing situation. No assurances, however, can be provided, given the Registrant's precarious financial position, that such efforts will prove successful.
- Share Price & Shareholder Rights - Risk 2Trading Market for the Registrant's Securities
Due to the difficulties experienced by the Registrant during the past five years with reference to compliance with its reporting requirements under the Exchange Act and the demise of its business operations during 2015 (when prior management left it as a deeply indebted shell), the Registrant's securities have only traded over the Pink Open Market (operated by the OTC Markets Group), the lowest and most speculative tier of the three marketplaces for the trading of over-the-counter stocks. As the Registrant becomes current in its securities reporting requirements and begins implementation of its new business model, its management will endeavor to move trading of its securities to more closely regulated and exigent markets, aspiring by the end of 2021 to have its securities traded on the OTCQX, the top tier over the counter marketplace where many of the biggest and best over the counter companies trade. All issuers there are required to meet both financial and reporting criteria and to undergo a management review. They must also be sponsored by an accredited third-party investment bank or attorney adviser. Approximately 370 securities trade on this marketplace. If the Registrant's business plans prove as successful as management hopes, it subsequently aspires to list its securities for trading in one of the major exchanges (i.e., the NYSE or NASDAQ). Aspirations, of course, are not always realized, despite best efforts, and thus, no assurances can be provided that the Registrant will be successful in improving the markets on which its securities trade.
See a full breakdown of risk according to category and subcategory. The list starts with the category with the most risk. Click on subcategories to read relevant extracts from the most recent report.