EasyMoney says in his post: I left work with a mi
Post# of 253
Posted On: 09/20/2013 12:47:13 AM
EasyMoney says in his post:
I left work with a migraine today and forgot my house keys so I wound up sitting in the parking lot waiting for the missus to get home. So I fired up the ol smart phone and starting reading through the posts here, and the major topic was the NV SOS revoked status, and how it was going to end up in an SEC suspension.
Well since I am not well versed in NV state law, I decided to reach out and touch someone. I contacted the Las Vegas office at 702-486-2440 and explained I was interested in some information on a company revoked status. The receptionist (I assume she was) put me through directly to a NV SOS investigator
I explained that I was interested in a NV incorporated company that currently had a revoked status, he asked for the name and I told him and he proceeded to tell me that Cal-Bay was revoked on 12-31-2011 for failure to updated their corporate list and pay the state. He also said that is not uncommon for smaller companies, since NV is second only to Delaware for company incorporation and since they have 5 years to bring their status to active, so if a company is struggling they have an opportunity to raise the capital to pay the state off.
I then asked him about if Cal-Bay acquires/reverse merges with another non public company would that be legal? His answer was YES, as long as the company has filings with the SEC and is in good standing with the market place it is legal.
So I asked what essentially is a revoked status then? He explained it to me simply as this, that the state of Nevada does not recognize the company name, they can still conduct business but Nevada does not recognize it, and if they do not pay up in 5 years the company name is up for grabs to any company that wants it.
So I asked what about a name/symbol change what would happen? He said nothing, if they back into an entity in another state (like Wisconsin for example) nothing would happen as long as FIRNA approves the change and once again its filed with the SEC. So what would happen to Cal-Bay I asked if they did this? He said the name would be up for grabs on 12-31-2015 if they did not pay the $5100. Which from my understanding wouldn't matter since Cal-Bay would have already backed into Cambertire so who cares about standing in Nevada.
This is not hearsay, these were the questions I asked a Nevada SOS investigator at approx 5:30pm ESTtoday would would have been 2:30pt. I thanked the man very much for his time and answers regarding this and hung the phone up quite happy with the information I received.
Thought I would pass it along to everyone hopefully clearing up the whole revoked status debate.
I left work with a migraine today and forgot my house keys so I wound up sitting in the parking lot waiting for the missus to get home. So I fired up the ol smart phone and starting reading through the posts here, and the major topic was the NV SOS revoked status, and how it was going to end up in an SEC suspension.
Well since I am not well versed in NV state law, I decided to reach out and touch someone. I contacted the Las Vegas office at 702-486-2440 and explained I was interested in some information on a company revoked status. The receptionist (I assume she was) put me through directly to a NV SOS investigator
I explained that I was interested in a NV incorporated company that currently had a revoked status, he asked for the name and I told him and he proceeded to tell me that Cal-Bay was revoked on 12-31-2011 for failure to updated their corporate list and pay the state. He also said that is not uncommon for smaller companies, since NV is second only to Delaware for company incorporation and since they have 5 years to bring their status to active, so if a company is struggling they have an opportunity to raise the capital to pay the state off.
I then asked him about if Cal-Bay acquires/reverse merges with another non public company would that be legal? His answer was YES, as long as the company has filings with the SEC and is in good standing with the market place it is legal.
So I asked what essentially is a revoked status then? He explained it to me simply as this, that the state of Nevada does not recognize the company name, they can still conduct business but Nevada does not recognize it, and if they do not pay up in 5 years the company name is up for grabs to any company that wants it.
So I asked what about a name/symbol change what would happen? He said nothing, if they back into an entity in another state (like Wisconsin for example) nothing would happen as long as FIRNA approves the change and once again its filed with the SEC. So what would happen to Cal-Bay I asked if they did this? He said the name would be up for grabs on 12-31-2015 if they did not pay the $5100. Which from my understanding wouldn't matter since Cal-Bay would have already backed into Cambertire so who cares about standing in Nevada.
This is not hearsay, these were the questions I asked a Nevada SOS investigator at approx 5:30pm ESTtoday would would have been 2:30pt. I thanked the man very much for his time and answers regarding this and hung the phone up quite happy with the information I received.
Thought I would pass it along to everyone hopefully clearing up the whole revoked status debate.
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