Phoenix Associates Land Syndicate (fka PBLSQ)

[MrPastorious]

that is basically corrrect. It is a huge catch -22. Thats is why there are so many damn pink sheet stocks. Being in the pinks is more like sitting in the penalty box as opposed to being allowed to do whatever you want. If you want back in, you need to play by the rules. there may be instances where they could file all the other forms that they should have filed at the same time as the k's and q's to become compliant. Whether the SEC accepts that or not without sanctions/fines, etc. is another issue.
The logic is that the SEC does not want its reporting companies to report that they have not been compliant with SEC regulations.