De-registering a stock simply means that the company is no longer required to issue periodic SEC reports via EDGAR. The stock can still trade after being de-registered.
Most of the companies that trade via OTC Link (fka Pink Sheets) do not have registered stock. In many cases, the stock was once registered but was later de-registered with the filing of a Form 15.
The SEC has stepped up actions to revoke the registration of stock for companies that are substantially delinquent in their SEC filngs. When a stock's registration is involuntarily revoked via an Administrative proceeding by the SEC, the ticker is deleted and the stock can't trade at all. The company is then private rather than public.
It's common for OTC companies that no longer want to be fully reporting to file Form 15. Such companies can then submit their financial and disclosure reports to OTC Markets, which has almost no review or accountability. Actually, even companies with registered stock can file financial and disclosure reports with OTC Markets, but doing so doesn't satisfy the obligation to file with the SEC as well.
I do not expect to see any more financial reports filed with the SEC for XNRG due to the fraudulent statements previously filed and the likelihood that the current auditor would require them to be restated before issuing an audit opinion.
Jerry Mikolacjzk seems to be going dark with a lack of both SEC and OTC Markets filings as well as the default corporate status with the NV SOS.
The stock is buried into the ground and has been at no-bid status for months. A reverse split would be necessary to get it trading again, however existing shareholders would be essentially wiped out in such an action.
Kerry Thacker and Jason Baker of CM Research, which is owed $365,000 from XUN for services not yet provided, are assisting in a reverse merger and reverse stock split for PVEC (PVECD) -- the company for which they previously worked.
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