Sylios Corp. (fka UNGS)

[robtewms]

Forrm 15 Filing

CERTIFICATION AND NOTICE OF TERMINATION OF REGISTRATION UNDER SECTION 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR SUSPENSION OF DUTY TO FILE REPORTS UNDER SECTIONS 13 AND 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.

This was submitted and approved. Yet, the interpretation of what it means may be the cause for our dispute. I read it to mean that auditing from an independent Certified Public Accounting firm is not an obligation posed upon UNGS by the SEC once the suspension to report was approved by the SEC. Also, one can interpret the suspension as indefinite unless UNGS makes a counter request that requires a duty to file audit reports with the SEC.

Perhaps, my use of the word Exemption or relief of responsibilities may be taken as inaccurate. However, I believe the words Exemption and Suspension in the context of filing of audits reports as far as the SEC is concerned, makes these words synonymous. And, I agree that exemption as far as the shareholders are concerned is confusing if mentioned in the same context.

There is not necessarily a regulatory requirement for UNGS to provide independently audited financials unless it becomes a matter of securities fraud allegations/ investigations/ and/ or charges. Likely, the Florida SOS will accept a financial report in any way it is submitted. Again, unless someone complains about concerns of no audit reporting, inaccuracies, and/ or potential fraud.