Asura Development Group, Inc.(fka IAGI)

[Renee]

I agree with your assessment. I wonder why the SEC didn't follow their usual protocols by first suspending the stock with an Admin Proceeding.

Asura was 4 years delinquent in filing Financials so it was inevitable the stock registration would be revoked.

To my knowledge a company can only file a Form 15 to voluntarily deregister their stock when their Financials are current. That timeframe for a Form 15 would have been in early 2011 when they had filed their 10Q in December 2010. Once the next Financials became delinquent they forfeited their opportunity to voluntarily deregister whereby the company could have continued trading on the OTC Markets as a non-reporting stock.

Excerpt:

2. Asura Development has failed to comply with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 thereunder because it has not filed any periodic reports since it filed a Form 10-Q for the period ended December 31, 2010.

http://www.sec.gov/litigation/admin/2014/34-73402.pdf