Thursday, July 10, 2014 3:58:48 PM
I will agree with you that the delay is not on the part of FINRA because the SRO, too, could be waiting to clear comments after seeing the super 8-K filed for the APT Group. Although APT filed the 10Q for period ended 03/31/2014 as interim numbers, that filing technically does not satisfy item 2,01 and 9,01 of the 8-K filed when the merger was consummated. In other words, APT is delinquent in one filing--a very important one, too. FINRA has become even more strict with approving corporate actions and under Rule 6490 has the authority to ensure that an issuer is current in all of its filings prior to giving approval.
On this basis, the order of things to expect is:
1. 2012 and 2013 audited financials AND interim numbers for 2014 to be released as per reporting requirements;
2. Clear FINRA
The tenet that APT is waiting to release F/S after FINRA approval is really very wrong.
I am patiently waiting on the audit and legal teams to get the job done right!
It's coming though so be patient, all.
In God We Trust. All Others Must Pay Cash.
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