Okay, don't bother reading this post unless you want to get confused for no reason.
Still reading? Are you sure you really want to? Because this is about the dates the SEC chose for our grace period before putting us on the Expert Market. And who cares, really, because we're on it now. What difference does it make?? So don't bother continuing.
Still reading? Okay, well it doesn't make sense. I mean OTCMarkets clearly stated that the last day of the 15-calendar-day grace period was January 16th. So it began on January 2nd. Jan 2 through Jan16 = 15 calendar days. Right? Right.
So why did it start January 2nd?
Why didn't it start December 29th? SEC reporting companies like ours get kicked down to the Expert Market if they haven't complied to the Pink Limited Information tier timeframes. And the Pink Limited Information tier timeframes require reports to be filed within 180 days of the end of the quarter. So, yeah, we didn't file our annual report for the second quarter within 180 days of June 30th. Hell, we didn't file it at all! But we had until December 28th to file and still be within 180 days and not get bumped - or should I say knocked down to Expert. So why didn't the grace period start on December 29th? It wasn't a weekend. It wasn't a market holiday. And it was 181 days after June 30th.
So maybe they just round off and consider all months to be thirty days? Well, maybe.... But then the grace period should have started January 1st. A holiday, you say? New Years Day? Yeah.... but January 2nd was the official holiday too. An SEC holiday. Markets closed. And besides, if the SEC is such a big respecter of holidays, then why did they start the grace period January 2nd and demand that we get the filing to them no later than January 16th?? That was a holiday too! MLK Jr. Day. An SEC holiday. Market closed. Nobody home to receive the filings. Yeah, I know he was born the 15th. But the holiday is the 16th. I don't know if you want to celebrate your birthday on the next day but the SEC clearly thinks you do! Do they, like, count the calendar holidays but not the official holidays? No, that doesn't explain it either. Skip weekends? No. Sick days, maybe? Like a grace period from the grace period if someone's sick?
Not that any of this matters. Not at all! I mean, here it is the 19th, and still no filings! So we obviously didn't need that extra day! And if it had started on the 29th like it should have, we'd be in even worse shape! So never mind. Disregard all of the above! I warned you. Just pay no mind.
