That's like saying a minor league ball player will

That's like saying a minor league ball player will never be prepared to move up to the MLB because the umpires (SEC) have different rules for the ballgame.  The rules might change a little bit but not much. The minor league ball player works hard on their fielding, throwing and batting skills and someday they are hopefully prepared for the big leagues and at that point they are into the big bucks. There should be zero argument from anyone that the filing schedule needs drastic improvement and TECO admits it.  In addition your surely not implying that there isn't a solution to the problem of late filers whether OTCBB or Nasdaq.  Simply hire competent accountants that can do the job in a timely fashion and on a full time basis. 
Was Lee S. tired of the work? From the Lee S. biography  "Currently, Mr. Schlesinger, with the help of Mr. Bruce Gwyn, Level III Trading, is working with the focus of bringing Treaty Energy to a new level in the institutional investment community."  
How did that work out for TECO over the years? Could it be that timely financial information or a lack of performance made his job much more difficult.  I would love to be a fly on the wall sometimes because I'm not yet taking their words at face value.  I'm not that gullible and I need more 3rd party proof before credibility returns. I have zero tolerance for excuses at this point and please don't give me the "no money" excuse with a 1.2B OS and more than likely climbing.   If better decisions were made in 2011 and 2012 and  W. Texas wasn't allowed to soil itself as long as it did and whatever ongoing costs in Belize then TECO might have the funding to hire a larger  accounting firm or in-house accountants.  Maybe the filing schedule would be improved by now if all that was PR'd or implied was accomplished. In the meantime we continue to have manipulation, a lack of volume, bashers, shorting, etc because of the financial  unknowns.  

Man oh man their seem to be forgiving shareholders that are happy with today's PPS and all that a whopping .014 PPS implies.  Let's just sit back and take it up the arse and stay silent or kiss arse up to IR and management!  How are these new wells being funded? Toxic financing? Private funding with simple interest or millions of shares?  I don't know that answer because I don't have the 2nd or 3rd 10Q to tell me yet. Should I contact my attorney or the SEC to get those answers and really muck up the works once that news hits the streets?  People say TECO has turned the corner and all is better but I'm still waiting on the financial "OFFICIAL" proof.  Everyone else seems to have that proof already. Where are the docs because I would like to read an SEC certified copy and not necessarily 2nd quarter but the 3rd and then the 10K before JUNE, 2014.