CEO email 9/25/21 re:filings
Hi xxxxxxxxx
As a follow-up your recent email, we have been advised by legal counsel that the SEC’s amendments to rule 15c2-11 of the Securities Act of 1934, as amended (the “Rule”) requires broker dealers to make certain that there is current information concerning a public company issuer as a requirement before it can make a market, or post a bid or ask, on the over the counter market. This Rule includes requirements for a wide variety of information, including name, address, incorporation, description of securities, description of business, all which are contained in the Company’s filings with the SEC. Importantly, with respect to financial information, the requirement is that the broker has access to a balance sheet that is not older than 16 months before the submission of the quotation, and a statement of operations for the 12 months preceding the balance sheet. See 15c2-11(b)(5)(i)(L). Legal counsel has advised us that the recent filing of our Gene Biotherapeutics’ Quarterly Report on Form 10-Q for the period ended June 30, 2020 establishes Gene Bio’s compliance with the Rule, and that we would expect broker dealers to continue to post the bid and ask for CRXM until October 31, 2021.
We expect to be filing Gene Bio’s Quarterly Report on Form 10-Q for the reporting period ended September 31, 2020 shortly, and the Annual Report on Form 10-K for the reporting period ended December 31, 2020 thereafter. In addition, we plan to file Gene Bio’s financial reports for the 2021 reporting periods following sequentially. I should also point out that a decision to be a market marker in any specific public issuer is a unilateral decision of each and every broker dealer. As you know, in recent months, we have now filed with the SEC annual reports and quarterly information for the 2017, 2018 and 2019 calendar years, and we have always remained compliant with respect to our reporting obligations of material events on SEC Form 8-K. As we have previously reported, it is our intention to become “current” with respect our SEC financial reporting obligations, and we continue forward with our plan.
We appreciate your long-term investment, ongoing support of the Company, and many thanks for your patience in this regard.
Regards,
Chris Reinhard
