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Tuesday, April 15, 2014 12:47:31 PM
Reid would do a lot better to work on the S1 filing he promised nearly 18 months ago.
KMAG was suspended Sep 2012. It might take 30-60 days to produce audited financials. Plug the audited financials into a S1 for a Jan 2013 filing. Where "factual" would be required. Nothing could've prevented it. After all, it has been said on this forum Reid did no wrong. Even Reid implied it upon suspension.
The SEC can not block a company from filing a S1. Rather the SEC deems the S1 effective (6-8 months after filing) or takes no action, leaving the S1 in a question purgatory. In this respect the "event timeline" will be interesting: What will be the excuse given for not filing a S1?
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