regulatory
confidence high
sentiment negative
materiality 0.85
FINRA rejects reverse merger; Colambda voids agreement, restores prior management
Colambda Technologies, Inc.
- FINRA refused approval of merger with Emissions Zero Module, Inc. due to incurable historical deficiencies; merger void ab initio.
- Prior officers/directors restored: George Christodoulou as President/CEO/CFO; Mark Christodoulou and Solon Piitarides as Directors.
- All shares issued in connection with the merger are void; company remains a shell company.
- Payments made by EZM to Colambda must be returned to EZM.