Because TALK qualifies to have it's filing obliga
Post# of 8802
Posted On: 03/31/2016 5:34:05 PM
Because TALK qualifies to have it's filing obligations suspended there really aren't any penalties. Worse case scenario is they file form 15-12g so they will not be required to file with the SEC. Of course we would prefer they stay an SEC filer but no sudden suspension or revocation is happening here! The bashers are just trying to scare people with suspension talk.
Quote:
Reporting Requirements
If a company registers its securities under the Securities Act, the company must then file periodic reports with the SEC under the Securities Exchange Act of 1934. The obligation to file reports continues at least through the end of the fiscal year in which the registration statement became effective. After that, the company is required to continue reporting unless the number of its record shareholders fall below the following "thresholds," in which case the company’s filing obligations may be suspended:
300 shareholders of the class of securities offered; or
500 shareholders of the class of securities offered and less than $10 million in total assets for each of its last three fiscal years.
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