Posted On: 07/26/2016 10:50:39 PM
Post# of 30035
No, not at all.
They didn't have to include the LOI in the last 8K, They did so to get the word out.
You have to issue an 8K when you enter into a "material" and "definitive" agreement.
The SEC has said that a non-binding letter of intent is NOT a "definitive" agreement.
So they are under no obligation to issue an 8K for an extension ... but they can choose to do so.
They didn't have to include the LOI in the last 8K, They did so to get the word out.
You have to issue an 8K when you enter into a "material" and "definitive" agreement.
The SEC has said that a non-binding letter of intent is NOT a "definitive" agreement.
So they are under no obligation to issue an 8K for an extension ... but they can choose to do so.
Quote:
is an 8k required for extension? I'm not sure it would be as its just a continuing on of an ongoing process.
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