In the Matter of the Application of GOOD VIBRATION SHOES, INC. (n/k/a ALLIED CORP.) For Review of Company-Related Action Taken by FINRA (Order Extending Time to Issue Decision, '34 Act Rel. No. 93957; Admin. Proc. File No. 3-19407 / January 12, 2022)
The Commission has determined, in its discretion, that it is appropriate to extend by 90 days the period within which the decision in this matter may be issued. Accordingly, IT IS ORDERED that such period be, and hereby is, extended to April 12, 2022.
Good Vibration Shoes Inc engages in researching and developing vibrating shoes. It offers soothing vibrating massage for people with tired achy feet and people with cold feet. The shoe has a vibrating motor, a 4 phase randomized program along with a lithium rechargeable power source.
Nature of Operations
Good Vibrations Shoes, Inc. (the "Company"), a Nevada corporation, was formerly known as Landmark Technology Group, Inc., Bitcoin Collect, Inc., Solpower Corp., Virtual Technologies, Inc. and Dynafuel Corporation, which was incorporated under the laws of the State of Utah on June 7, 1982. The Company most recently operated a wholly owned subsidiary business called Long Beard Brewing Company, which is a "craft brewery" or "micro brewery" based in Long Island, New York. Since 2016, the Company has been dormant and in May 2021, a new custodian took over and will focus his efforts on developing a strategy for this company moving forward, including identifying suitable targets for acquisition.
The Company sold its Long Beard Brewing subsidiary during March 2017 and has had no operations since 2017.
On May 4, 2021, custodianship of the Company was awarded to George Sharp.
Impact of COVID-19
The COVID-19 pandemic has not had a material impact on the Company, particularly due to our lack of operations.
Ummm, y'know, I gotta nuthin' more to say. As if, there's something that I could say at this point that would even makes sense out of all those corporate gyrations and transactions? So . . . howsabout I just play us all out with some songs and lets' all put on our boogie shoes:Good Vibrations Shoes Inc. (PINK: GVSI) is a Nevada corporation, was formerly known as Bitcoin Collect, Inc., Solpower Corp., Virtual Technologies, Inc. and Dynafuel Corporation, which was incorporated under the laws of the State of Utah on June 7, 1982. The Company is a perfect reverse merger candidate with a clean balance sheet of just $250k in liabilities.The Company was originally incorporated in Utah in 1982 as Dynafuel Corporation and its original business involved research and development of an experimental fuel using alcohol and other chemicals in a proprietary combination to produce a gasoline-like motor fuel. In July 1996, the Company merged into a newly-formed subsidiary incorporated in Nevada to change the Company's corporate domicile. In November 1996, the Company entered into a licensing agreement with Dominion Capital Pty Ltd. to acquire the exclusive manufacturing, distribution, marketing and sales rights for Soltron ® in the United States, Canada and Mexico. As a result of entering into this licensing agreement, Dominion Capital and its affiliates gained control of Solpower and a new Board of Directors and new management were installed. A corporate philosophy of acquiring and commercializing environmentally friendly products was initiated. In June 1998, the Company entered into a second licensing agreement with Dominion Capital and acquired the exclusive manufacturing, distribution, marketing and sales rights for the product SP34E in the United States, Canada and Mexico. In December 2000, the Company acquired the E*COR enzyme division of Perix Industries, Inc., including all the rights to the KLEAN product line. KLEAN is a line of enzyme-based cleaners and bio-remediation and petroleum deposit control agents. The Company discontinued the KLEAN product line in the fiscal year ended March 31, 2003.On June 23,2014 the company appointed Dr. Richard Koenig to the Board of Directors, and to the position of CEO of the company while simultaneously resigning Charles Neinstedt from any and all positions he held with the company at that time. On this date, the Company subsequently merged with Good Vibrations Shoes, Inc. and it exchanged 100% of Good Vibrations Shoes, Inc. common shares for the Company's series "B" preferred share and its majority voting rights. On 4/29/2015, Dr. Richard Koenig effectively resigned as CEO and Chairman of the company, transferring ownership of his preferred shares, which hold 51% or more of the outstanding stock in the company to Emmanuel Gyamfi, who was appointed Interim CEO, Secretary and Treasurer pending an anticipated acquisition of DBA Vindai Corporation and appointment of permanent CEO. The common shares of Good Vibrations Inc. were returned to Dr. Koenig in exchange for the assignment of his preferred shares in the company to Emmanuel Gyamfi, effectively reversing the acquisition of Good Vibrations Shoes, Inc. The selling of Good Vibrations Shoes back to Dr. Koenig, and the acquisition of Vindai are considered to be a combined net $0 transaction showing no gain or loss to the Company since no current government contracts will be transferred to the company in this fiscal quarter. Due to unforeseen delays in transference of the company's business into the Parent, the company filed with the State of Nevada for a name change to Vindai Corporation, but has not filed this change with FINRA as of yet. In December 2015, the company signed an acquisition deal to acquire Long Beard Brewing Co. and is in the process of changing its business model to micro-brew or craft beer manufacturer.