Here’s the part about the gray’s: “Eliminate the piggyback exception during the first 60 calendar days after the termination of a Commission trading suspension under Section 12(k) of the Exchange Act;”
This is an easy read on some of the changes: https://www.sec.gov/news/press-release/2019-189
I would agree with you that they won’t be quoted, at least from what I’ve read, but it could keep them from being subject to a civil lawsuit from the SEC, unlikely for many, but it does happen. Filing a form 15 only relieves the companies obligations to the SEC, public companies must still make information publicly available to shareholders, including financial statements, they don’t usually do that, but they’re supposed to. How they end up being subject to this rule, I have no idea, doesn’t look like the old loopholes are going to be available for crappy pennies. The only companies I know of that file them are garbage scams, so I can’t really answer that question, but there may be some legit ones. Either way it doesn’t help any of these companies like SIGO, it’s a losing situation. SIGO could become current, likely exposing lack of revenues etc., or they can do nothing and not have their stock quoted. First option would dilute the stock into triple zeros as shareholders sell, and note holders are able to convert; option two skips all that and straight to zero. I suspect that Wade has made his millions, so whatever happens here doesn’t affect him much, and he still has at least a year to sell more shares if he has any left.