Atacama Resources International Inc (ACRL)

[Tiresias]

Exactly. However, the filings have to be compliant and it was explained to me by a woman at the Alberta regulator, given the amount of time that has passed they will receive more than a cursory examination. Each year will be reviewed but as she said the process is back and forth. The regulator has questions the company has to respond and change the filing if required. She said this can take a great deal of time. Once the regulator is satisfied all is in order the company has to go to the panel of judges and give cause why the cease trade order should be lifted. If everything is in order then it is granted unless there are other issues. It seems so simple yet it has taken over six years almost to get up to date filings from the company.
They not only have to pay for audited financials, they have to pay the daily fee for overdue filings. And there could be other issues related to them selling during the cease trade order, telling people the shares will trade on the Nasdaq, telling Preferred B shareholders they cannot lose on the investment, inferring the shares are worth a lot more than current market value, promoting sales of the stock by way of the Todora myth instead of relying on mining disclosure. Those are issues outside of the late filings that could bite them in the butt.