Married
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thank you. i calls em as i see em. i was a little confused. i have found that these boards can be rather hostile and sometimes a little irrational on both sides of the argument, so I was curious as to the message.
ooh i lived in London during one of my expat assignments
i thought you were using some internet abbreviation i am not in tune with...lol
follow up for clarification.. it is not uncommon that at the end stages some telephone contact may occur with the SEC staff. I have seen that happen, however I have always seen a formal response in writing that follows.
comments are very formal written letters that call attention to a series of issues.
if the company is so inclined they can share these. i dont think I would make a full blown open disclosure to the world as you may spen the next 60 days answering questions, but i most likely would be willing to share on a limited way if someone had a specific query.
Curt, I will go back to my perception based on actual on point experience, Wall Street buys 3 things in this order;
management
business fundamentals
controls
In my humble opinion. each investor would ideally look at these and try to understand what will really drive the business and how the street will react.
again.. my experience is that a reporting company is already in the flow...so to speak, since i have never run this type of a scenario. MY ASSUMPTION based on my historical experience with the SEC, NASD and the market wherein the equity is traded, is that the likely scenario is that they may need to include the most recent Q or K as a reference document. if it were a true IPO, reporting would begin after the effective date on the prescribed sequence, Q's & the K.
Please note that this(penny)is unfamilar turf for me though so please dont shoot the messenger. you guys are a rough bunch.......lol
yes. each round requires (or did last time i did a registration) a new submission.
The company has no voice on the effective date. SEC will simply respond with "NO FURTHER COMMENT" and then set an effective date and time.....
by the way, in my experience, i never had more than 12 14 comments in a given round. so i have to assume that the reference to 100 comments then 50 etc was just an illustrative exercise........
i dont have the same history as IR is referencing.
i agree that this was unlikely an act of good stewardship but rather aquiescence to a not so subtle hammer.
that being said while I dont know how many rounds of comments have transpired and what the legal and accouting staff at SEC have each focused on, I would not be surprised if this was a 5 or 6 comment round situation.
it probably is helpful.
i canyt speak to that. I have decided to stay away from this opportunity though. I am not penny stock savvy, and I am uncomfortable with a business model that is PR driven and the fundamentals are not the primary focus.
whikle the SEC does not take hard lines (typically) It is my opinion...MY OPINION people noit some sec guideline etc.., based on my experience, that they will make it more difficult when they sense a weak filing that carries higher risk for the investors
the higher the risk the more rounds of comments
sinse comments are just that.
if they keep coming back, they in practical; terms become nit picky
PLEASE KEEP IN MIND THAT I HAVE NEVER BEEN INSIDE A PINK SHEET OR PENNY STOCK.
my experience is with fully compliant NASDAQ and NYSE listed companies. SO my content knowledge is based on that frame of reference.
i did not say that.
i have seen as many as 6 rounds of comments
a very strong deal can get thru with 2 rounds.
the more rounds of comments the dimmer the prospects.
in my years of experience in running a public company (NASDAQ large cap)including the pre ipo work, as well as other involvements with publicly traded companies, i have never seen insiders / shareholders (particularly promoters and affiliates)restrict there shares without outside pressure to do so.
its simple enough to look at the comments from the SEC,( both the legal and accounting side) if the company is inclined to share. that will show any pressure from the SEC to impose the restrictions. I will say that i doubt that was the case. SEC rarely takes such an agressively prejudicial posture. more likely a result of pressure from lenders, creditors or quasi committed future capital sources.
By the way there may be a least 3 rounds of comments by now since the original S-1 filing date. I ma not sure of the current lead times but as recently as 2 years ago it was about 45 days from submission to comments. And again they are just that "COMMENTS" they rarely say "Do X Y & Z". Instead it is indirect comments to issues.
And just because round 1 of comments did not raise a specific issue, I can tell you from direct personal experience that round 2 comments etc., can and usually do include items that were not commented in prior rounds.
Personally I am convinced that it was the latter. Not some draconian SEC edict. And absolutely do not believe it was any kind of heartfelt "Gee this is the right thing to do" on the part of those impacted by this.
an afterthought........ maybe the NASD, had a voice in this issue.
and the Q? the MDA will be really interesting
for what it is worth, i have found credible and informative points coming from all sides on this post. I am not a Penny guy, I am here for a specific interest. I am not an IHUBBER per se.
I am curious as to some of the fanaticism i see here.
true, but 3500 sq ft is just a tiny tad larger than a good size convenience store.
who is clarke mechanical. who is clarke family
if the chargers are made by a separate contractor, is that disclosed anywhere?
so there had to be revenues..........ok....
heck i don t know how far back if at all you would have to have q's....
dazed and confused
btw, the 2 year audited financials is correct. also for any aquisition, did they buy the patent only for the DD? If so maybe that is a reason they may not have bought underlying business if it existed.
did a business exist for the DD? I dont know.
Of course, if there was a business that entity's financials would have had a significant role in the valuation of the acquisition, and would have to have been disclosed. ergo a significant accumulated deficit in that business would have not helped in the valuation of the acquisition.
I have not dug around the filings, so I do not know off hand what was given up for DD.
my question to counsel was during a broader conversation on other issues and was only regarding whether the 09 Q's are a prerequisite to uplisting. At $375 an hour (and i get a break due to 20 year relationship, 2 ipo's and multiple PPM's) I dont probe unless I need to.
Hey all, as per atty. pinks do not have to report. but if they were on the bb they must, if they are bb and they dont file and then do not comply within cure period they get an "E" next to symbol. then the NSDA sets a telephonic hearing. if by the time the hearing is held default is not cured they are delisted from bb. If they have 3 instances of failure to comply, regardless of cure they are also delisted. Soooooooo.. the short answer is that the '09 Q's do not need to be filed.
btw no one should get too excited my buy order is very modest. It would not change anything n here.
To the best of my knowledge, with the prior Q's being deliquent, you cannot uplist until that is cured. I think? I will consult my securities atty. in NY today.
I have never looked at their filings, but will do so now. Unfortunately I was looking at placing a buy order based on what appeared to be pretty good indicators of an uplist etc.
again i apologize for not watching closely. Thats great news re Bayer! When did they reorder?
anyone know the qtys?
thanks
http://www.frost.com/prod/servlet/frost-home.pag
I did not really look for anything in particular.
i didnt read the whole thing. thank you
i may have missed that (a buy order)if he said it to me.
point being that the market cannot be reacting to something they new 2 months ago (with filing lag)
but is not all of this info "OLD" as from the 1 qtr 10Q? all dated to March 2010 so it seems that it would have to be included in the Q or an ammendmemt thereto.
who is the lender? what was lent (amount) i cant imagine that the company would want us here to speculate. so I really think you will see them clear it up super quickly.
from what i read this could be an existing employee. its just unclear
interesting the way this works