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Thursday, August 10, 2017 10:20:00 PM
#1 There is no suspension of the company, only a suspension of their requirement to file financial data for the previous year.
#2 if you look at the form 15, they have only checked the box pursuant to rule 15d-6. Under rule 15d-6 (see below), a company can suspend it's requirement to file with the SEC if the number of shareholders is less than 300 for a given year (under 500 for companies with less than $10 million in assets).
Please read "Reporting Requirements here: https://www.sec.gov/answers/noinfo.htm
In other words, THIS IS NOT A DE-REGISTRATION! All it means is at the beginning of the year HVCW had less than 500 shareholders and was able to use rule 15d-6 so that they don't have to report the past years finances. It's that simple.
#3 if the form 15 was suspending the company, we wouldn't be trading now, 3 months later.
Rule 15d-6; Rule 12h-3; Form 15
Section 15(d) of the Exchange Act provides an automatic suspension of the periodic reporting
obligation as to any fiscal year (except for the fiscal year in which the registration statement
became effective) if an issuer has fewer than 300 security holders of record at the beginning of
such fiscal year. Under Rule 15d-6, a Form 15 should be filed to notify the Commission of such
suspension, but the suspension is granted by statute and is not contingent on filing the Form 15.
In contrast, Rule 12h-3 permits a company to suspend its reporting obligation under Section 15(d)
if the requirements of the rule are met at any time during the fiscal year. Because situations
exempted by Rule 12h-3 (e.g. fewer than 300 security holders of record in the middle of a fiscal
year) do not meet the literal test of Section 15(d), Rule 12h-3 requires the filing of Form 15 as a
condition of the suspension.
$HVCW
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