Nutranomics Inc (NNRX)

[Fireindahole101]

'Going Dark' is a good thing for a company that has just been reinstated. They are simply buying some time. This is from Dorsey and Whitney LLP:

The decision to de-register involves balancing the costs and benefits of going dark to the company and its shareholders. The benefits to the company of terminating its reporting obligations would normally include significantly lower accounting, legal, insurance and compliance costs related to Exchange Act and Sarbanes-Oxley requirements and public disclosure obligations. The company should make an effort to estimate and document these savings. The company would normally also benefit through the reduced public scrutiny and disclosure requirements following deregistration and the time saved and the reduction of burdens and distractions on its management and staff.

A “dark” period could, if needed, also give a troubled company an opportunity to develop a revised operating plan or a new financing plan to reinvigorate its business without the distractions and costs of being a public company. The company could also benefit from lower ongoing securities law liability risks, although Rule 10b-5 and other Federal and State anti-fraud statues would still be applicable to U.S. domestic transactions in its shares.


Hopefully this will clear things up.





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