DoMark International Inc. (fka DOMK)

[Frayed Knot]

DOMK CANNOT do business (well, it will be breaking the law if it does) until the Business License is brought current.

That means no R/S (which is actually good news) or another Split or any kind of business that might need to be done, UNTIL it is out of DEFAULT.

It will stay in DEFAULT for one year, at the end of the year, DOMK would go into REVOKED status. What that means is that there is a bigger penalty and it will need to be REINSTATED, which is more $$ and paperwork.

"Permanently revoked" is even worse (and it takes several years of non-compliance) and more expensive but a company can be "revived" from a permanently revoked status.

It is much easier to bring a company out of DEFAULT status just a lot of penalties if it goes on for months.

Going to the link below, it shows there is already $100 Bus Lic late fee and $75 for the late annual report. I would guess, but do not know that another $175 will be added next month. I will be sure to check back later. It could be more.

http://nvsos.gov/sosentitysearch/FeeDetails.aspx?ctok=suYeutDFF1W7sdWQf6z9DA%253d%253d


The number I called is 775-684-5708, then #3. (that number can be found in the "contact us" area).

The people are very helpful. I was actually calling about a different company but did ask the generic question "if a company is in default, can it do a Reverse Split or Split"... Answer: "NO, the company cannot do ANY business while the business license is expired. It is against the law for any business to be conducted"

Which, makes sense to me, otherwise why bother to have a business license at all.

Maybe the default won't hurt the stock, people can make their own decision on what stocks to buy or not. However, it seems that buying a stock with a company in DEFAULT status, which DOMK is, is not a wise business decision. (And then, of course, the sad DOMK financials.)

NV SOS, does not think kindly of a business license being expired (Default status) and the company continuing to do business.

The reason it is $8175 to bring it current is because he did so many splits last fall. Part of the cost ($7800) is tied to the number of shares of stock.

It appears at this point, the penalty for a late business license and late annual report is $175, not the $200 priviously stated.

BUT the fines will keep going up until it is brought current.