SKTO is required to make public "material" events
Post# of 36729
Posted On: 02/26/2014 8:09:18 PM
SKTO is required to make public "material" events because it is a current information OTC ticker. The transfer to Aventura Labs is a material event for SKTO.
"Adequate Public Information: Issuers are considered to have adequate current information publicly available if they provide the required disclosures (described below) through the OTC Disclosure and News Service no later than 90 days after the end of any fiscal year (the “ Annual Report ”) and 45 days after the end of each fiscal quarter (the “ Quarterly Report ”).
Issuers also need to provide updates within 10 business days (“ Current Report ”) in the event that any of the information contained in any disclosure statement has become materially inaccurate or incomplete, OR upon the occurrence of certain material events (described below).
Current Report -- the following events require disclosure:
"Adequate Public Information: Issuers are considered to have adequate current information publicly available if they provide the required disclosures (described below) through the OTC Disclosure and News Service no later than 90 days after the end of any fiscal year (the “ Annual Report ”) and 45 days after the end of each fiscal quarter (the “ Quarterly Report ”).
Issuers also need to provide updates within 10 business days (“ Current Report ”) in the event that any of the information contained in any disclosure statement has become materially inaccurate or incomplete, OR upon the occurrence of certain material events (described below).
Current Report -- the following events require disclosure:
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Entry into or termination of a “Material Definitive Agreement” defined as an agreement made outside the ordinary course of business that provides for obligations that are material to and enforceable against the issuer, or rights that are material to the issuer and enforceable by the issuer against one or more other parties to the agreement, in each case whether or not subject to conditions.
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Completion of acquisition or disposition of assets, including but not limited to mergers and changes in control of issuer.
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Sales of equity securities and material modification to rights of security holders.
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Creation of a direct financial obligation or an obligation under an off-balance sheet arrangement of an issuer and any triggering events that accelerate or increase a direct financial obligation or an obligation under an off-balance sheet arrangement.
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Costs associated with exit or disposal activities; material impairments.
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Changes in issuer’s certifying accountant; non-reliance on previously issued financial statements or a related audit report or completed interim review.
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Departure of directors or principal officers; election of directors; appointment of principal officers.
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Amendments to articles of incorporation or bylaws; change in fiscal year; amendments to the issuer’s code of ethics, or waiver of a provision of the code of ethics." http://www.dorsey.com/going_dark_voluntary_de...istration/
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