Aug. 26 at 9:01 PM
$IBG What's going on? Why is the IBG merger delayed?
For a reverse merger like IBG–BlockFuel, the SEC needs:
1. Two-years of audited BlockFuel financial statements so the private company, as a new public registrant, has historical financials on record.
and
2. Pro forma financial info (PFI) showing what the balance sheet & income statement is for the merged entity.
In July CEO Lanskey's commented that the merger was “pending for the audit to be completed” referring to 1 and 2 (BlockFuel’s audited financials for the SEC).
It means earlier by Mar 31 2026 IBG couldn't file the 2025 annual report, it holds 51% BlockFuel in a temp Co., but didn't have financial data from BlockFuel because it's audit isn't done.
The merger delay & missed annual report are because BlockFuel 's 2 yr audit isn't done yet. Blockfuel's financials are needed by the SEC before the reverse merger moves forward.
Now you know!
