Hmmm, it appears that Allinder doesn't know the pr
Post# of 11899
Posted On: 03/01/2013 8:02:10 PM
Hmmm, it appears that Allinder doesn't know the procedure to become fully reporting. 1manband does. Here's the deal:
1manband
Friday, March 01, 2013 4:11:23 PM
Re: janice shell post# 40652
Post # of 40674
RFMK doesn't seem to have a clue. I highly doubt they are actually planning to file anything with the SEC. If they were, they would know the correct procedure, which is much different from what they are telling shareholders .
According to the "Update to Shareholders", "The order of events that we had to go through to become a fully reporting Company is as follows":
1.Complete the 10K to file with the SEC
2.Audited financials to accompany 10K
3.File a Form 10 with the SEC
4.File a 15c211 with a market maker to move to the OTCBB
That is wrong. Form 10-K is the annual report for reporting companies. A non-reporting company like RFMK not only has no requirement to file a Form 10-K prior to the effectiveness of registration, there is absolutely no mechanism to allow them to do so, even if they wanted to. It makes ZERO sense and demonstrates he has no clue.
The actual process is to file the Form 10 first. If the Form 10 becomes effective (and is not withdrawn due to overwhelming SEC comments that cannot hope to be addressed in the short 60-day window before it automatically becomes effective), the company will then have to file their first 10-K within 90 days after the end of the fiscal year AFTER they become effective with the SEC. Therefore, their talk of having a 10-K for fiscal 2011 and 2012 is complete BS. They will require most of that information, including PCAOB audited Financial Statements for 2011 and 2012 for inclusion in the Form 10, but preparing a full and separate Form 10-K for those years is wrong and not part of the registration process. And certainly it is not only not required before the filing of the Form 10, could not be done as claimed by RFMK even if they wanted to. Even assuming they somehow do file a registration statement with the SEC AND get through the rigorous SEC review process (which will be even more difficult and thorough than usual, as RFMK is a former registration that filed a Form 15 in 2007, and the SEC doesn't take kindly to that behavior), they won't need to file any 10-K with the SEC until at least March 2014.
1manband
Friday, March 01, 2013 4:11:23 PM
Re: janice shell post# 40652
Post # of 40674
RFMK doesn't seem to have a clue. I highly doubt they are actually planning to file anything with the SEC. If they were, they would know the correct procedure, which is much different from what they are telling shareholders .
According to the "Update to Shareholders", "The order of events that we had to go through to become a fully reporting Company is as follows":
1.Complete the 10K to file with the SEC
2.Audited financials to accompany 10K
3.File a Form 10 with the SEC
4.File a 15c211 with a market maker to move to the OTCBB
That is wrong. Form 10-K is the annual report for reporting companies. A non-reporting company like RFMK not only has no requirement to file a Form 10-K prior to the effectiveness of registration, there is absolutely no mechanism to allow them to do so, even if they wanted to. It makes ZERO sense and demonstrates he has no clue.
The actual process is to file the Form 10 first. If the Form 10 becomes effective (and is not withdrawn due to overwhelming SEC comments that cannot hope to be addressed in the short 60-day window before it automatically becomes effective), the company will then have to file their first 10-K within 90 days after the end of the fiscal year AFTER they become effective with the SEC. Therefore, their talk of having a 10-K for fiscal 2011 and 2012 is complete BS. They will require most of that information, including PCAOB audited Financial Statements for 2011 and 2012 for inclusion in the Form 10, but preparing a full and separate Form 10-K for those years is wrong and not part of the registration process. And certainly it is not only not required before the filing of the Form 10, could not be done as claimed by RFMK even if they wanted to. Even assuming they somehow do file a registration statement with the SEC AND get through the rigorous SEC review process (which will be even more difficult and thorough than usual, as RFMK is a former registration that filed a Form 15 in 2007, and the SEC doesn't take kindly to that behavior), they won't need to file any 10-K with the SEC until at least March 2014.
(0)
(0)