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I totally agree with you. This is more extreme than just running under the radar. It's like rigged for silent running.
My shares were cancelled but I have no reported loss to claim on taxes. I can't trade the shares. I have been stuck in Never-Neverland with no apparent recourse. There is no PR.
A class action would be a civil suit and, as such, would not be permitted as the court order signed by Judge Walsh voided all claims against ROHIQ, as I understand the law. The only exception I can see would be something in the sealed documents that stipulates otherwise, not a likely outcome.
The choice for Obus would be to convince an Attorney General to go after management or the Board for criminal fraud, if it could be proven. Rotech's headquarters in Orlando would make Pam Biondi a sound to choice to pursue this matter. She is not know for Spitzer-like pursuit of corporate malfeasance, but she is like a pitbull in taking on bad guys. She is also... pardon my sexist lapse... dropdead gorgeous to go along with her impeccable legal credentials.
The reason I think this is possible, or even probable, is that there is lots of potential for way more damage recovery if some of the big money houses like Barclays and Goldman-Sachs can get linked into a broader conspiracy than Rotech as a standalone defendant. It's a longshot, at best, but at least some hope remains, even if it is just a scorched earth payback and a few Rotechies go to Club Fed to play bingo and make license plates for a few years.
Well, maybe in the end Wynnefield will step up to the plate and lead a Class Action. Lots of those being filed right now and going on in the world. And it seems like there might be some material here to work with.
I think it would have been more fair for the judge to link value to a post reorg market cap being above the debt that was discharged flowing into equity for the origional equity holders(us here). I have seen this done in some cases and with a true ambiguity of the value of a company this large, that seems like it would have been more fair then just making a decision that would impact shareholders giving them zero. Either way, who knows what is going to happen on this one. But I will admit it is not looking very good the way it is going at this point.
It is entirely possible that Rotech has quietly been taken private to avoid scrutiny of post-emergence financials that could expose fraudulent or other activity by which all equity in the company has been awarded to lienholders which include member(s) of the Board of Directors. If so, Rotech will not relist for awhile to "fuzz" over the S/P upswing that could draw dangerous attention to the rape and pillage of ROHIQ shareholders that got screwed in a scam just South of the Madoff Line.
Can you imagine the outcry if Rotech relisted a week after cancelling shares as worthless and suddenly they pop up on OTC or Nasdaq at a S/P of $14 or more? There is a reason that the Chief Legal Officer departed... There also is NO reason in my mind why the common stock had to be cancelled since 10 1/2% notes in today's market can easily be refinanced at a less usurious INT rate. Remember, again, though that Board members held some of these overly lucrative 2nd tier notes so maybe multiple layers of self-interest benefitted by stealing your shares?
Right back at u Big Yank Look forward to the next one. Have the upmost respect for the way you handle things and your DD is outstanding. Hope to reach the inner circle of DD KINGS one day LOL ROHIQ OUT
RNCH came out of BK with almost $2 million in cash, no debt. Just announced a 1-2 well drilling prospect. Selling at less than cash, 119 million shares o/s. Just a thought for you gamblers.
All common shares were cancelled yesterday, 10/16. Shareholders should expect a letter stating that the court-approved bankruptcy included cancelling shareholder equity.
I hope that you are right. However, there have been instances where "limbo" dragged on for years and all the assets escaped while the common shareholders got left holding an empty bag. investor2004 would surely recall the Arcadia Healthcare mess which continues to churn over a year after all operations ceased.
Unlike ROHIQ, though, KADR shares continue to trade and investors can at least sell and take a tax loss.
Holders of common shares are now being held hostage in a bizarre stock purgatory where they cannot sell their shares and at least take a tax credit on the loss, nor has Rotech properly cancelled shares as the alternative method of accessing an investment tax loss. For investors filing quarterly estimated gains & losses, this can be an expensive problem and is totally unfair and, perhaps, represents the basest possible example of breach of fiduciary responsibility by the Board of Directors in a debt for equity swap that wipes out common shareholders equity and even denies them access to a tax loss offset, as small as that is.
YARD SALE, Asstene and wWwides marketing selling, infighting, wasting money and searching for publishers to print their stories. With an attached resume for each bearded women on Linked-in, they're all looking for old lady glass ceiling futures but the board decided all over-paid and useless Wemonwannaabe's are gone 12/31.
I have tried but can't seem to convince you but days later proven. Asset count down to toilet paper is being conducted. Can you say WHITE SALE. Hold on to your balls boys it's gonna be a bumpy ride. Winners will ride the stag to the finish line. Look to nationals with $. It's a all or nothing and no one holding position cares they win either way.
Hey, the intrigue, spirited discussion and massive and occasionally conflicting DD performed by posters on this board makes the experience worthwhile, win/lose/draw. That said, where's my dime per share. LOL.
People should make their investment choices on their own, but I do enjoy hearing other opinions because I'm not all that familiar with these situations.
So RIGHT AGAIN, JT! Take responsibility for YOUR investment choices, people. It's called living in the real world. If you can't deal with losses as well as wins, you shouldn't be in this business of pennyland investing.
You win some, and you lose some here. BTW, this ROHIQ game isn't over yet. Let's wait for the fat lady to sing before we start thinking about crying in our beer.
Yank is right as usual. Don't waste your time. If something comes up, believe me I'll see it & let you all know.
I'm constantly searching throughout the day looking for something, anything. An article, statement or filing but so far nothing.
The website is up http://www.rotech.com/ but www.rotechsfuture.com is on a redirect now.
I called & was able to get past the machine & the operator. They took my information, a detailed record of my concerns & told me a lawyer would get back to me. Yeah right.
Still waiting,....I'm thinking the return phone call will probably coincide with the $.10 per share gift check that's in the mail. Lmao!
Don't waste your time. I tried calling. You get an automated operator that refers you to the restructuring website unless you are a creditor trying to file a claim under Medicare or a government program.
Nobody's home at the moment. Pretty strange for a newly emergent public company to go underground with lots of U.S. Government $$$ and a new corporate strategy borrowed from Dr. Hook & the Medicine Show: "Don't Call Us, We'll Call You."
Maybe ROHIQ's management team is now part of the Witness Protection Program and Alsene has changed his name to Mr. Magoo or Pepe LePew or something similarly stupid and arcane like everything else with this scam BK? If so, it will not have been to protect the innocent.
is it only me that can't access to rotech.com? from late Sep i can't access to their websites weird... i was going to call them and ask them straight up about rotech shares, but i don't think any of IR people would know the answer...
Agreed. I think a clue might have been the law teams jumping ship for alleged "Ethical violations" lol! One thing for sure is this continues to be the most active soap opera of pinky land.
Things were looking a little dismal last week, OK, OK,....a lot dismal but I'm seeing a great deal of hope now. Our shares will trade again but what happens after that is anyone's guess.
I'm guessing somewhere between $.0001-$14. This is either going to be one of my greatest wins, or biggest losses because I'm holding a buttload of shares. :-p
J.T., I think there is an interesting, ancillary issue in this "Never-Neverland" with Rotech common. The shares have been delisted, but not cancelled. Shareholders cannot trade, nor can they take a tax loss credit for their cancellation. Yet, Alsene came out with a statement that the BK was approved, right on schedule, exactly as management and the board expected. So... this being said... why is there no definitive position for common shareholders who are still in limbo with no PR, no filings and an investment in unacceotable limbo.
There are, IMO, SEC violations galore in this mess that some enterprising Attorney General may find sufficiently improper as to send a few Rotechies to Club Fed for an extended visit without privileges or Room Service.
I have shares in: Interactive Brokers Etrade TradeKing MSSB IB & TK disappeared for a couple of days but Etrade updated to indicate a last trade of $.035 for 2-3 days then went back to $.0068.
The ticker symbols are now all replaced with CUSIP's & will become tradable again once symbols are assigned. I understand part of the delay might be Rotech is still deciding what exchange to trade on.
It doesn't hurt to dream so could you imagine if both tickers ended up on AMEX or NYSE? Just keep praying because anything is possible & none of us have any idea the true disposition.
The only facts are the shares still exist & NOTHING has been filed with the SEC, therefore nothing has officially happened besides a ticker symbol deletion/change.
I trade with Schwab and just checked my account... my shares are still there but not under ROHIQ but a cusip number. All trading action on ROHIQ ceased on 9/26 and the shares are not tradable.
Exactly. What you saw happen in 2002 we should see happen here again. Rotech's parent company was trading under one ticker in chapter 7 with a fifth letter Q added.
Once Rotech bought Rotech, from "Interim health?" Rotech got a new symbol with a fifth letter "V". Then later on the "V" dropped off. ROHIV-ROHI
Shortly we should see two brand new symbols. One with a Q to designate old shares & one with a V to designate the new shares.
I expect to see a Fourth of July type reaction when this happens. There's no telling what the market will do with these YoYo's pulling the strings with these shares. Remember they hold almost, if not all of the new shares.
I'm very confidant we are going to be trading again under a new symbol very soon.
The more I DD this the more cancellation of ALL common classes of shares makes not a little, but NO SENSE.
For example, I dare someone name just one creditor that's getting stiffed besides shareholders under this pre-arranged chapter 11 & its alledged "Cancellation of all common shares".
If we are to believe ALL classes of shares are cancelled the only people that get stiffed are Class 7 (Maybe 10 of us) and who owns like 90% of "Class 7"? INSIDERS!
I'm sorry but someone will need to come up with more proof than a sound byte calling this a loser, when its only an brief intermission which can only be confirmed if/when an SEC form 25 is filed.
I was almost thinking of sweating when the ticker was deleted, with the thought I would now have 28 wins & 1 loss for 2013. Now that I'm able to DD again I do not feel we have anything to worry about.
Regardless, we can't buy or sell so its the waiting game checking the DTCC for a new symbol daily.
Thank you. This ticker has tested my DDing skills to the max. I freely admit its beyond my scope of knowledge so all I can do is dig, read & form scenarios that try to make sense.
The cancellation of shares is reserved for a company that's emerging from a situation to where they couldn't pay their bills. That's not the case with Rotech.
Rotech makes approximately $113 million per year but the long term debt was eating their lunch at $50 million per year debt service & after a decade+ was going nowhere. That debt is now gone.
From where I'm sitting its hard for me to make sense a company that is now profitable to close to $100M a year. With a $68M VA contract with almost $400M in the bank with exit financing could explain to a judge how they need to rip off shareholders for a measly $2.6 M as well.
Then taking into consideration Alsene is fairly new. Therefore his shares, he most likely paid for. I tracked the CFO last Oct PAYING $.70 & the rest of the float is owned by insiders, so why would they vote to extinguish the shares they do not need to extinguish, that they PAID for?
If it doesn't make sense its not the truth.
This management team is a real piece of work. They hide good news in filings, or twist good news to sound bad & at the same time waste no time releasing bad PR after bad PR whist Insiders were sitting at the bid buying the cheapies.
This is a haunted house of mirrors that no one knows how its going to end until there is an SEC filing stating what's happening. Everything else is BS. GLTA
The CLO's departure involved a court approved separation deal and was filed as a docket item, as we discussed several days ago on this board. No further question remains except for the always unstated reasons for her departure and my parenthetical observation that she didn't leave with any kind of fat deal except a used Audi and a laptop... whoop-de-doo!
I have no doubt that an Alsene stooge is tracking what people are saying. Who wants to have an extended stay at Club Fed?
Wish I could trust but CLO gone post was questioned requesting proof. You need more I can provide, tell me how I can benefit. 1.) HR, Rotech's over staffed, over paid, hired pro IT to search and follow all posts everywhere its's so Snowden but a waste of $. I like your's and sad guy's posts who's giving up. You seem to be the smartest and so many other just follow.
I think I may be able to help solve some of this mystery. I admit I'm no lawyer. In fact I don't even know any lawyers that can tell me what's really going on. It takes a specialized, big corporate, bankruptcy attorney to understand this mess.
It took me awhile to find information & a situation like this & it appears to me the shares have NOT been cancelled (Yet). The ticker has been deleted & we are waiting on a new ticker for the new shares with a 5th letter "V", and a new ticker for the old shares with a 5th letter "Q".
Here are some facts about Rotech & allegedly canceling all classes of shares but take note NO ONE KNOWS WHICH OF THE 115 Chapter 11 plans SPECIFICALLY REFERS TO CLASS 7 EQUITY HOLDERS! That's VERY important.
What I LOVE seeing is the part where.... yeah shares are cancelled but whatever the 2nd tier note holders get, WE GET pro-rata!
It's far from over. In fact the beginning of the end hasn't even been formally announced and I'm not sure it's gonna be.
Look at it this way. The CFO reached into his pocket last year and bought 70,000 shares at $.70 so do you think he is all for screwing himself? 24M of 26M shares are insider owned so cancelling makes zero sense.
It's somewhat unusual to cancel shares under these circumstances. Chapter 7 its a given, but notsomuch in a prearrianged Chapter 11 when there are hundreds of millions of dollars flowing in and out.
It looks to me like we are in some sort of limbo because I'm still showing shares in my accounts, no SEC filings have been made with all with regards to anything & I'm not so sure they can just say "Gooodbye" without formal warning & proper channels.
If the company does come out of bankruptcy, there may be two different types of common stock, with different ticker symbols, trading for the same company.
One is the old common stock (the stock that was on the market when the company went into bankruptcy), and the second is the new common stock that the company issued as part of its reorganization plan. If the old common stock is traded on the OTCBB or on the Pink Sheets, it will have a five-letter ticker symbol that ends in "Q," indicating that the stock was involved with bankruptcy proceedings.
The ticker symbol for the new common stock will not end in "Q". Sometimes the new stock may not have been issued by the company, although it has been authorized. In that situation, the stock is said to be trading "when issued," which is shorthand for "when, as, and if issued." The ticker symbol of stock that is trading "when issued" will end with a "V".
Once the company actually issues the newly authorized stock, the "V" will no longer appear at the end of the ticker symbol. Be sure you know which shares you are purchasing, because the old shares that were issued before the company filed for bankruptcy may be worthless if the company has emerged from bankruptcy and has issued new common stock.
One BK Plan.
Rotech Healthcare Inc. (“Rotech”) and its title 11 subsidiaries listed in Exhibit A to this Plan as chapter 11 debtors and debtors in possession in the above-captioned chapter 11 cases (collectively, the “Debtors”) propose this Plan (as defined below) for the resolution of outstanding creditor claims against, and equity interests in, the Debtors pursuant to section 1121 of chapter 11 of title 11 of the United States Code, 11 U.S.C. §§ 101–1532.
This Plan consists of 115 separate chapter 11 Plans – one Plan for each of the Debtors that will emerge as a reorganized entity. This Plan does not substantively consolidate any of the Debtors’ estates. Any reference herein to the “Plan” shall be a reference to the separate Plan of each Debtor, as the context requires. The votes to accept or reject a Plan by holders of Claims against a particular Debtor shall be tabulated as votes to accept or reject such Debtor’s separate Plan. Distributions under a Debtor’s Plan will be made to the holders of Claims in the Classes identified in such Plan.
Apparently we are Class-7. I'm not sure if this STILL applies or not.
Rotech Class 7 – Equity Interests (a) Classification: Rotech Class 7 consists of all Equity Interests in Rotech. (b) Treatment: On the Effective Date, all Equity Interests in Rotech will be canceled and extinguished, and each holder of an Allowed Equity Interest in Rotech shall receive Cash equal to ten (10) cents per share (provided the total amount paid on account of such Allowed Equity Interests in Rotech does not exceed $2,620,000).
To the extent the total amount of shares representing all Equity Interests in Rotech exceeds 26.2 million common equity shares outstanding, each holder of an Allowed Equity Interest in Rotech shall receive its Pro Rata Share of $2,620,000; provided, however, that if a Class senior to Rotech Class 7 rejects the Rotech Plan, each holders of an Allowed Equity Interest in Rotech shall receive its Pro Rata Share of the Accepting Second Lien Noteholders Share;provided, further, that if the Bankruptcy Court does not allow payment of the Accepting Second Lien Noteholder Share in accordance with this section 3.3.8 by gift or otherwise, the Distribution to Rotech Class 7 and holders of Allowed Equity Interests in Rotech shall be zero.
Voting: Rotech Class 7 is Impaired by the Rotech Plan. Rotech Class 7 and each holder of an Allowed Equity Interest in Rotech are entitled to vote to accept or reject the Rotech Plan.
IMPORTANT! In order to cancel a security "Staff bulletins"must be filed.
II. The Operation of Section 15(d) and Rule 12h-3
When an issuer's registration statement under the Securities Act of 1933 becomes effective, Section 15(d) requires the issuer to file the reports required by Section 13(a) of the Exchange Act with respect to each class of securities covered by the registration statement.
As the Commission has explained, the purpose of periodic reporting under Section 15(d) is "to assure a stream of current information about an issuer for the benefit of purchasers in the registered offering, and for the public, in situations where Section 13 of the Exchange Act would not otherwise apply."2 The issuer must continue to file these reports until the Section 15(d) reporting obligation for each class of securities is suspended.
The Section 15(d) reporting obligation is suspended while a class of securities is registered under Section 12 of the Exchange Act. In addition, there are two other ways in which a Section 15(d) reporting obligation may be suspended.
First, Section 15(d) provides for an automatic statutory suspension of this reporting obligation if, on the first day of any fiscal year other than the fiscal year in which a Securities Act registration statement became effective, there are fewer than 300 record holders of the class of securities offered under the Securities Act registration statement.
Second, an issuer may seek to avail itself of the suspension provided by Rule 12h-3 at any time during the issuer's fiscal year if it meets the conditions of the rule.
How does an issuer terminate and/or suspend its registration and reporting obligations under the Exchange Act?
There are several steps that an issuer must take to terminate and/or suspend its Exchange Act reporting obligations. If the issuer has a class of securities registered under Section 12(b), then either the issuer or the natural securities exchange must file a Form 25 to initiate the delisting/deregistration process.
If an issuer has a class of securities registered under Section 12(g), then it must file a Form 15 to terminate the registration and reporting obligations under Section 12(g).
If an issuer has a reporting obligation under Section 15(d), then it must file a Form 15 to suspend its Section 15(d) reporting obligation. In each case, the issuer must satisfy specific conditions that are described in more detail in these Frequently Asked Questions. How does an issuer with a class of securities registered pursuant to Section 12(b) initiate the delisting/ deregistration process?
When an issuer has a class of securities registered under Rule 12(b) and listed on a national securities exchange, Rule 12d2-2 and Form 25 govern the delisting and deregistration process.
Form 25 is a one-page form that is used by issuers or the natural securities exchange to file a notice of delisting/deregistration. The filer checks the applicable box to indicate the subparagraph of Rule 12d2-2 that is relied on for the delisting/deregistration.
If an issuer wishes to delist/deregister a class of securities from more than one exchange, must a Form 25 be filed with respect to each exchange? A separate Form 25 must be filed for each exchange on which an issuer’s securities are listed. An issuer may seek to delist/deregister more than one class of securities of the same issuer on one Form 25.
What are the filing deadlines for notifying an exchange of delisting?
If the issuer is initiating the delisting, the issuer must notify the exchange at least 10 days prior to filing the Form 25. The delisting process itself is conducted by the exchange as the security is struck from the securities exchange’s listing and is no longer traded on that exchange.
How long does it take for delisting and deregistration under Section 12(b) to occur once a Form 25 is filed?
In general, once a Form 25 is filed, delisting occurs automatically within 10 days. However, deregistration under Section 12(b) does not occur for another 80 days.
According to General Instruction 5 to Form 25 and Rule 12d2-2(d)(2), delisting/deregistration occurs 90 days after filing the Form 25. If the filer needs to amend the Form 25 before the ten-day delisting period runs, then delisting/deregistration occurs 90 days from the filing of the amended Form 25.
When may an issuer stop filing reports after a Form 25 is filed for delisting/deregistration under Section 12(b)?
If an issuer does not have any reporting obligations with respect to any other class of securities, and is not required to continue reporting based on an obligation under Section 12(g) or Section 15(d) with respect to the class of securities that is delisted, then the issuer will not be required to file any current or periodic reports that are due on or after the date the class of securities is delisted.
Until the termination of the Section 12(b) reporting obligation is effective 90 days after the Form 25 is filed (or such shorter period as the SEC may determine), any other obligations, such as those under the proxy rules, Section 16(b) and certain beneficial ownership reporting requirements will continue to apply.
Once the termination of the Section 12(b) reporting obligation is effective 90 days after the Form 25 is filed, all reporting obligations arising from the Section 12(b) registration are terminated. This entire delisting/deregistration process is designed to operate by the passage of time, with a “safety valve” allowing the SEC to intervene in limited circumstances if necessary. The SEC does not usually provide for any shorter period of time for delisting/deregistration under Section 12(b).
If an issuer registered a class of securities under both Sections 12(b) and 12(g), is the Section 12(g) registration terminated at the same time as the Section 12(b) registration?
When an issuer delists/deregisters a class of securities under Section 12(b), it must determine whether it has a reporting obligation under Section 12(g). In the event that an issuer had registered a class of securities under Section 12(g) prior to the time that it registered that class of securities under Section 12(b), then the Section 12(g) registration (which had been suspended by the Section 12(b) registration) would revive. This situation is common for issuers that were quoted on NASDAQ prior to its registration as a national securities exchange, because they had originally registered under Section 12(g) in connection with their initial NASDAQ listing, and then were deemed to be registered under Section 12(b) upon the effectiveness of NASDAQ’s registration as a national securities exchange in 2006.
If an issuer registered a class of securities only under Section 12(b), could a class of securities be deemed registered under Section 12(g) once the Section 12(b) registration is terminated?
If an issuer had not previously registered a class of securities under Section 12(g) prior to registering the class of securities under Section 12(g), then the issuer would need to determine whether Rule 12g-2 would deem the deregistered class of securities as registered under Section 12(g).
Rule 12g-2 provides that any class of securities which would have been required to be registered except for the fact that it was exempt from such registration because it was listed and registered on a national securities exchange or because it was issued by a registered investment company, shall upon the termination of the listing and registration of such class or the termination of the registration of such issuer and without the filing of an additional registration statement be deemed to be registered, if at the time of such termination: (i) the issuer of such class of securities has elected to be regulated as a business development company and such election has not been withdrawn; or (ii) securities of the class are not exempt from such registration pursuant to Section 12 or applicable rules and all securities of such class are held of record by 300 or more persons.
What does an issuer need to file to terminate its reporting obligation arising because the issuer has a class of securities registered under Section 12(g)?
An issuer seeking to terminate its registration under Section 12(g) must file a Form 15. Form 15 provides certification and notice of termination of registration under Rule 12(g), which becomes effective 90 days after the Form 15 is filed.
An issuer that has a class of equity securities registered under Section 12(g) may terminate that registration pursuant to Section 12(g)(4) if: (i) the number of record holders of that class falls below 300; or ( ii) the number of record holders of that class falls below 500 and the issuer’s assets have been no more than $10 million at the end of each of its last three fiscal years.
For issuers that are banks or bank holding companies, Title VI of the Jumpstart Our Business Startups Act recently increased the 300 persons held-of-record test in Section 12(g)(4) to 1,200 persons.
If an issuer files a Form 15 to terminate registration under Section 12(g), it does not have to file any current or periodic reports that are due on or after the date the Form 15 is filed. Until the termination of the Section 12(g) registration is effective 90 days after the Form 15 is filed (or such shorter period as the SEC may determine), any other obligations, such as those under the proxy rules, Section 16(b), and certain beneficial ownership reporting requirements, will continue to apply.
Once the termination of the Section 12(g) registration is effective 90 days after the Form 15 is filed, all reporting obligations arising from the Section 12(g) registration are terminated.
This deregistration process is designed to operate by the passage of time, with a “safety valve” allowing the SEC to intervene in limited circumstances, if necessary. The SEC does not usually provide for any shorter period of time for deregistration under Section 12(g). If an issuer has terminated its registration under Sections 12(b) and/or 12(g), may it still have a reporting obligation under Section 15(d)?
In those situations where an issuer has terminated its registration under Section 12(b) and/or Section 12(g), the issuer may still have ongoing reporting obligations as a result of Section 15(d).
An issuer filing any Securities Act registration statement that becomes effective incurs a reporting obligation under Section 15(d), which subjects the issuer to the same periodic and current reporting regime applicable to issuers with a class of securities registered under Section 12; however, the proxy rules, the third- party tender offer rules and Sections 16, 13(d) and 13(f) reporting do not apply.
The Section 15(d) reporting obligation typically first arises at the time of the issuer’s initial public offering registration and is incurred again with each subsequent Securities Act registration statement that goes effective, or with each annual update of a registration statement pursuant to Section 10(a)(3) of the Securities Act.
An issuer can never “terminate” its reporting obligations under Section 15(d); rather the reporting obligation arising under Section 15(d) can only be suspended. In 1964, when the SEC adopted amendments to the Securities Act, Section 15(d) was added to reflect a policy concern that the SEC had with respect to investors who purchase securities in an offering registered under the Securities Act.
The SEC’s view was that such investors need the benefit of continued disclosure, even if the issuer is not registered under the Exchange Act. If an issuer no longer satisfies the requirements under which it was able to cease reporting under Section 15(d), then the suspension ends
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This is either going to be one of my greatest wins, or biggest losses because I'm holding a buttload of shares. :-p
There's no telling what the market will do with these YoYo's pulling the strings with these shares. Remember they hold almost, if not all of the new shares. 
