Interups Inc (ITUP)

[Traderfan]

With the new SEC-rules I don't think ITUP is at risk for suspensions for delinquency anymore. At least unexpected by SEC. They have to start the process of getting current before the end of June and must be current by September, otherwise they'll go to the Grey Market. I have my own deadline, if I don't see filings by then I'll sell.

You know I rarely disagree with you especially because you are always thoughtful and reasonable.

In this instance I disagree though. I do think the suspension risk is very real here, a company making crazy claims in 8k's, is hyper active on a message board, posts stuff that is often borderline on what is allowed and what not, all that while being extremely SEC delinquent. That's about as risky as you can get especially during times where the SEC freaks out as they do 2-3 times per year as you said. They had a long pause lately so that was the reason many delinquent tickers didn't get suspended, simply because they took a long break on it.

Yes, lately there has been a lot of inactive company suspensions lately but there has been others as well, because of claims made, because of not being current, there has been a suspension on a stock that still had an ongoing custodian, they suspended a ticker that did re-instate on SOS 2 days prior, that's not being dead. So they did quite a few different things lately. But yes, the SEC surely contacts the company way prior to suspension and only the company itself is aware on what standing they have right now with the SEC, that's why I have not been getting tired to ask Laxmi whether they are in active dialog with the SEC because that will make or break the entire situation. To make him aware that he needs to communicate, there are CEO's out there that have no clue about that stuff. I have not been given any reply that convinced me yet to put any real money here before they are actually current. I have seen too much of this in the last 10 years, and so did you. If somebody takes that risk it's only fair that he will get more rewards than I will probably get if the company is getting current and will eventually proof itself as legit. I'm good with buying more shares higher if this risk is gone.

Now I'm aware there is room for debate on this but I personally don't think that the new 211 rule which is getting enforced in september, is decreasing the risk of an SEC delinquent filer to be suspended at this point in time. This new rule was made for dark companies as you fully know, not for SEC delinquent stocks because they already had the procedure and the path to suspension for years. Now apparently you think they will give the SEC delinquent guys the same room and time than they give the dark guys, meaning until september. Fair enough, can't argue on that point because it's an opinion thing, nobody knows, I personally don't think so or at least I haven't heard anything from the SEC that leads me to think so.