Correction to prior post, as I wrote quickly and sloppily. The Form 10-12 does not actually make a company public. All it does is make them subject to reporting requirements. There is no new ticker (yet). But the Form 3's do make more sense in this context. Presumably, the Form 10-12 indeed is now in effect (it's been 60 days), and they have to start filing required reports.
So we're still not out of the woods. A cynical take is they needed to do all of this because they finally admitted their actual number of shareholders, which makes them legally obligated. While that's true, it is not the whole story. Their IPO dreams are real, and I still believe that will happen fairly soon. Until then, we at least own shares in a company that must once again report regularly to the SEC.
