Wednesday, May 11, 2016 3:04:23 PM
Is there a typical timeline for review of an S-1?
Another company, FONU, has been trying to get 10 million shares registered for a long, long time. Meanwhile, the share price has dropped to the lowest of triple 0's, so the shares to be paid to shareholders of a previously-suspended co (MDNT) are basically worthless.
I think that FINRA seeks info from the SEC to see if there is info out there that would affect approval of a 15C-211 from a sponsor. I think they ask whether there is an ongoing SEC investigation into the reasons for the initial SEC suspension.
PHOT says they have not been formally notified that there is a formal investigation, but I also don't think the SEC advertises that they are investigating unless they send a notice to the company.
Not necessary to respond, unless you can add something on typical S-1 timelines.
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