The Form 10-12G is actually a great place to start
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Posted On: 09/09/2020 5:09:22 PM
The Form 10-12G is actually a great place to start looking into a new company.
From that same Investopedia site I keep referencing:
"SEC Form 10-12G is one of the starting points for anyone wishing to truly research a company's stock. Contained on this form is information that can provide key insights into a management team's long-term direction for a company and assessment of potential risks and opportunities in their industry. Of additional interest to many investors is the fact that SEC Form 10-12G contains a breakdown of shares owned by company officers, giving insight into possible conflicts of interest underlying different executives' decisions."
The reason that there will be no form EFFECT is because a 10-12G is just information on a company/board/etc. It does not create shares, like an S-1. So it does not need approval from the SEC to be in effect, just time. The SEC can, and will when they so feel, ask for further clarifications and amendments.
The SEC letters would have been referencing them wanting NGIO to make the clarifications and amendments to form 10-12G that they have filed 3 times now.
If you would like some evidence, take a stroll around the website of this boards favorite OT stock, CYDY. They filed form 10SB-12G in 2002. Their first form EFFECT didn't come through until 2014 - in regards to an S-1 they filed November 2013.
From that same Investopedia site I keep referencing:
"SEC Form 10-12G is one of the starting points for anyone wishing to truly research a company's stock. Contained on this form is information that can provide key insights into a management team's long-term direction for a company and assessment of potential risks and opportunities in their industry. Of additional interest to many investors is the fact that SEC Form 10-12G contains a breakdown of shares owned by company officers, giving insight into possible conflicts of interest underlying different executives' decisions."
The reason that there will be no form EFFECT is because a 10-12G is just information on a company/board/etc. It does not create shares, like an S-1. So it does not need approval from the SEC to be in effect, just time. The SEC can, and will when they so feel, ask for further clarifications and amendments.
The SEC letters would have been referencing them wanting NGIO to make the clarifications and amendments to form 10-12G that they have filed 3 times now.
If you would like some evidence, take a stroll around the website of this boards favorite OT stock, CYDY. They filed form 10SB-12G in 2002. Their first form EFFECT didn't come through until 2014 - in regards to an S-1 they filed November 2013.
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