COHO suspension today was nonetheless disturbing j
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Posted On: 07/09/2020 12:53:58 AM
COHO suspension today was nonetheless disturbing just not in regards to the other 19 SEC delinquent financial ticker suspensions in the last 6 trading days but uniquely pertinent to COHO:
Why COHO caught me off guard:
They filed the Form 15 in June 2010 and again in June 2019. From what I understand, there needs to be less than 400 current shareholders in order for the term of registration to be valid*. The first filing in 2010 stated 700 shareholders. The second filing in 2019 stated 549 shareholders.
We see the two filings were published but however not valid. The issuer still remained as an SEC registrant. COHO was still required to submit valid financials to EDGAR and the SEC. Seems as though they dropped the ball on this one (or didn't care) and resorted to the OTC Markets disclosure to report filings. The OTC Markets website is not a regulator and is not a qualified substitute for filing financials to the SEC. The SEC had every right to suspend the ticker.
Why COHO caught me off guard:
They filed the Form 15 in June 2010 and again in June 2019. From what I understand, there needs to be less than 400 current shareholders in order for the term of registration to be valid*. The first filing in 2010 stated 700 shareholders. The second filing in 2019 stated 549 shareholders.
We see the two filings were published but however not valid. The issuer still remained as an SEC registrant. COHO was still required to submit valid financials to EDGAR and the SEC. Seems as though they dropped the ball on this one (or didn't care) and resorted to the OTC Markets disclosure to report filings. The OTC Markets website is not a regulator and is not a qualified substitute for filing financials to the SEC. The SEC had every right to suspend the ticker.
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