So Ed and team are hoping the SEC will let them change their previously reported story. I really wonder if it will work. Time will tell...
FYI:
The issue is that the Form 10 won't be approved if Sekoya Holdings is deemed to have been a "shell", at any point in time.
Here is the original story filed with the SEC in 2009:
"On March 14, 2008, Sekoya, a then shell corporation, merged with MEC and MEC became the surviving corporation. This transaction was accounted for as a reverse acquisition. Sekoya did not have any operations and majority-voting control was transferred to MEC."
MYEC just filed several amendments to switch the story to this:
"On March 14, 2008, Sekoya, a Nevada corporation, merged with MEC and MEC became the surviving corporation. This transaction was accounted for as a reverse acquisition. Sekoya was a development stage company and majority-voting control was transferred to MEC."
So Ed is attempting to tell the SEC that Sekoya was NOT "a shell with no operations". It was actually "a Nevada corporation and development stage company".
My guess for the reason it was initially reported as being a shell company with no operations:
Ed's finger slipped... It's just a typo...
Oops!
Can anyone else think of a valid excuse to change this previously reported info?
