Walker, with the MRIB Form 15-15D Filed…
What you and others here within the forum have been saying is 100% correct. The Form 15-15D that was filed by MRIB yesterday on Sep 30, 2013 was filed under Rule 12g-4(a)(1) and Rule 15d-6 to terminate or suspend the duty to file reports with the SEC and will now pave the way for giving MRIB a clean slate to move forward to tell this next chapter from their book of growth.
Considering the previous updates that were recently made by MRIB within the OTC Markets, I would presume that they are about release some filings to become current with OTC Markets. Years ago, MRIB previously was a fully reporting SEC filing company to reflect its transparency to the market. I’m sure that they have learned that to get back into a current status that’s respectable throughout, does not require them to be fully reporting filing reports to the SEC. What MRIB is doing is the norm now for thousands of stocks. It appears that they are looking to obtain OTC Markets Pink Current Information Status.
Most pink sheet stocks that many investors trade/invest in are already deregistered with the SEC, but a lot of investors just don’t know or realize it. It just means that they will not be required to file their financials, 8-Ks, and/or any other reports per SEC requirements. Primarily, audited financials won’t be required to file with the SEC or have to be completed. I don’t see that to be an issue because anyone could research to see that they have always been very credible and believable with whatever numbers they will file. Doing things this way is a huge savings for the company in cost and time. As they begin to mature, they can always obtain the OTCQB status where such SEC requirements will be voluntarily delivered rather than forced upon the company as a must or a mandatory burden.
Bottom Line: The OTC Market requirements is much cheaper and is a very well respected arena of transparency. Any news of substance will be recognized just the same by investors with or without this deregistration as MRIB has proven its legitimacy long ago. This is basically a ”new” norm for MRIB to legitimately move forward.
v/r
Sterling
