The company to become SEC current would require several steps completed for NSAV.
I will disclose the additional requirements below.
1) Bring all missing 10Q and 10K reports current since the last audited report On April 2015. Currently, that list of reports is 8 10Q reports and two fully audited 10K reports. The last filed 10Q is below.
Cost $5,000 to 10,000 which does not include the ongoing retainer fee to the public accountant certified for the exchanges.
10-Q Apr 20, 2015 Feb 28, 2015 400.5 KB PDF PDF RTF RTF HTML HTML Excel XLS
2) The company needs to have them all Edgarized electronically to the SEC. This is a computer language used by the SEC to transmit the Reports to save for future reference. Edgarization is separate from the filed 10Q from the signed CEO reports you read and costs from $1,000.00 to ten thousand depending on the Transfer agent filing this or a scamming lawyer.
3) additional fees of any required restated 10Q/a for the accuracy of previous quarterly or annual reports.
4) An auditor that has been changed, and his fees to audit every report by researching every paid expense by contracting the payee or letters of certification for expenses spent and issued a sperate statement from the CEO on every report.
5)The ability to have a working relationship with a previous CEO to help with all the reports that were under his tenure.
As you can see from this extensive list and huge fees, this is an endeavor that costs too much.
Now the alternative direction for JT to catch up is to file a form to take the stock to a non-filer pink status. The filing fees are less costly because this just requires a lawyer"s review of each report and those review's filed with the OTC Market exchange.
The additional cost savings can be achieved with having another all inclusive financial report to include all the missing reports filed in one. This takes a good SEC attorney and his research if this is a viable report under current SEC rules for this report.
From above you can see that this is an expensive endeavor that might or might not be worth the money.
