The time for LFAP to voluntarily deregister from the SEC by filing a FORM 15 and to thereafter become an alternate reporting security on the OTC was after their last posted Financials, ie., the company would have needed to be current in their Financials at the time of deregistering. By going into default by not posting any Financials the company no longer qualified to deregister from the SEC and once the SEC Enforcement files an Administrative Proceeding for the Financials delinquencies it is too late for the company to remedy the delinquent Financials.
This linked post will explain the outcome for LFAP will 100% be revocation of the company's stock registration(s).
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