Giggles N'''''''' Hugs Inc. (fka GIGL)

[TooFrank]

For issuers with sufficient resources and tenacity, the entry of a Section 12(j) order does not have to be a death sentence. Nothing in the Exchange Act or the Commission’s rules and regulations prohibits a 12(j) company from restoring its Exchange Act registration and re-commencing the filing of periodic reports. Most issuers who decide to pursue this solution will file a Form 10 registration statement, complete with audited financial statements and unaudited interim financial statements as appropriate.

Every case is different but, based on our recent experience, it would be reasonable to expect the Commission registration process to take four to six months and the FINRA review process to take an additional six to eight months. When an issuer is so delinquent in its reports that it may soon be faced with a Section 12(j) proceeding, it is always best to do whatever it can to get those reports current and to foreclose any such proceeding at the outset. This can be an expensive proposition if several years’ reports are due, but in most cases the expense of restoring the issuer’s Exchange Act registration and going through the FINRA review process will exceed the cost of getting its reports caught up. As with many situations in life, an ounce of prevention is worth a pound of cure.



https://burninghamlawgroup.com/another-way-to-restore-a-section-12j-issuers-exchange-act-registration/