The March 6th letter was not released to the public. It does not matter what anyone believes. The facts are what they are: BLTA received a notice in late Feb/early March from the SEC that, to the best of our understanding, emphasized the need for BLTA to release their financials. That didn't happen. We have no knowledge of what the letter stated regarding actions the SEC intended to take, if any, but it is clear now that the SEC made a decision to suspend the stock due to a lack of current financials.
There is, at this time, no specific evidence that the SEC wants to shut down BLTA. The nature of the suspension is almost entirely explained by the lack of current, audited financials. It is reasonable to speculate that completing the audit to include Q1 2018 soon (whatever realistic time frame that may be is unknown to us), even after the suspension expires and the company remains trading on the Grey sheets, will be the most important step toward filing to return to the OTC. How the company intends to address the May 31st court date is also unknown to us. If they are smart, they'll admit that they failed to release financials on time and will show that they are making a proactive effort to get it done.
There are significant benefits in this scenario that the company can take advantage of if they're keen on getting a large capital infusion and are willing to leverage the Grey sheets for improving their share structure.
Time will tell if they've got what it takes. As Integral recently said, it will be very interesting to see if GBH CPAs is still the company's auditor.
AI
