Micromem Technologies Inc. (MMTIF)

[seek the light]

Ok! Why the filing with the SEC to register all shares outstanding as of 10/31/17 as reported above? IS the reason as follows?:


Increased Statutory Thresholds for Registration and Termination of Registration
The JOBS Act and the FAST Act raised the thresholds for registration and termination of registration for a class of equity securities under Exchange Act Section 12(g). As a result of the statutory changes, an issuer that is not a bank, bank holding company or savings and loan holding company is required to register a class of equity securities under the Exchange Act if:

it has more than $10 million of total assets; and
the securities are “held of record” by either 2,000 persons, or 500 persons who are not accredited investors.


Probably 500 persons who are not accredited shareholders.