Dewmar International BMC Inc (DEWM)

[Det_Robert_Thorne]

SEC reporting companies operate on SEC timelines

Penny stock companies do NOT operate on OUR timelines and wishes.

Though DEWM has slipped to OTC Pink status because of its low per share valuation, it is still a SEC reporting company, which means that it is required to report in certain ways at times certain.

That means that DEWM has to file unaudited 10-Qs 45 days after the end of each of the first three fiscal quarter, and an audited 10-K 90 days after the end of the fiscal year.

When you say that "penny stock companies do NOT operate on OUR timelines", that only applies to Pink Sheet Alternative Reporting companies that are not SEC registered. Pink Sheet Alternative filing uses what OTCMarkets calls Pink Basic Disclosure Guidelines, which can be downloaded as a MS Word document from the OTCMarkets site.

Pink sheet Alternative Reporting stocks can get away without issuing quarterly and annual report forever, because there is no real requirement to report. OTCMarkets tries to entice them to do so by issuing Stop and Yield Signs to those who are late, but those are just warnings to investors, with no real weight behind them.

OTOH, since DEWM is SEC Reporting, the SEC can suspend the stock for ten days for not reporting, which would essentially kill the stock, because after three days of not trading, it would move to the grey market. On May 4 (yesterday,) the SEC did this to two companies:

https://www.sec.gov/litigation/suspensions/2016/34-77761.pdf

If Moran wants to report on his own timeline, he should file a Form 15-12G with the SEC to terminate registration and become a true Pink Sheet Alternative Reporting company. Here's an example of that type of filing from another company which de-registered in 2009 and now reports OTC Pink Basic:

https://www.sec.gov/Archives/edgar/data/1192069/000127351509000150/form15.htm

Otherwise, he should file the SEC reports as required so that the stock doesn't get suspended by the SEC for lack of current information.