Renee Member Level Wednesday, 11/30/16 08:01:58 PM
Re: 4on4off post# 43718
of 43736 Go
When the SEC Suspends a stock for Financials delinquencies the company has the elective option to agree with the stock registration being revoked or the SEC Admin Law Judge will revoke the registration on DEFAULT, with the reasons for default being there are NO excuses or reasons accepted for the Financials delinquencies.
When revocation is an absolute under either scenario companies may choose to agree with the stock revocation in case the company ever wants to try to re-register, whereas a DEFAULT ruling would eliminate any future considerations to re-register.
Out of 1,454 stock registrations that were revoked only a few ever tried to file a new FORM 10 to try to re-register their stock. Only two companies were successful at re-registering and the FORM 10's took over a year to complete when the SEC scrutinizes every syllable with a Hubble-sized microscope.
XUN Energy would need to audit their entire operations back to their last audited Financials. That is a monumental task particularly when the company likely didn't keep accurate records....the presumption being that they would have simply filed their required Financials if their records were kept and were accurate. An audit cannot make stuff up....an audit requires a trail for EVERY transaction and activity of the company.
See the problem with Xun Energy trying to file a new Form 10?
I have personally studied all SEC Admin Proceedings on the 1,454 stocks listed below so my assessment of XNRG is an informed assessement.
About time 3rd party here (even though she is a POS also as I know who this person is) will maybe, just maybe put to end that shares are DONE.
Jerry made it perfectly clear in the 8k that he will re register by taking the necessary steps to do so, "blessing in disguise" quote is also encouraging as I speculate what he may mean by all that and I see it as a "blessing" also.
Dont let anyone tell you or especially that POS over that thinks Jerry did not file because he is trying to hide fraud chit, Jerry has not filed simply, because it takes money, get behind and now more money, snowball and "you" can never catch up, Simple as that, He is responsible for doing so and yes he messed up by not being able to file for lack of money, BUT, II understand the challenges he faces and while disappointed I believe in Jerry and I believe he will come through and bring US all back again.