You're like I am. I'm still invested in this though I lightened up my load 75%, but yet I don't mind calling a spade a spade. Kamal deserves to be bashed at this point in time in my opinion. The number one job of a CEO before anything else is to create shareholder value, and everything else falls below that. WTF has Kamal done for us over the past years?
And in my opinion, late SEC filings are inexcusable for any company regardless of the circumstances. Of course they're always going to have excuses for being late, but tough sh_t! Just file like the rest of the "real" companies do! They can blame it on the SEC because they're still waiting for an approval to their revisions, but I don't feel sorry for them. If they conformed to Sarbox and filed the Ks and Qs properly in the first place they wouldn't be in the mess they're in.
And the SEC won't extend their time to file regardless of what anyone thinks. They put that "E" after the symbol for a reason. It flags the stock for delisting if a company can't file within the grace period. UPDVE can pay the $4K and request an appeal to stall off the inevitable, but all FINRA tries to determine in an appeal hearing is whether or not the company filed timely. So clearly UPDVE would lose on that one.
I also believe that once UPDV goes to the pinks that the stock could still fly. All it would take is the filings and a positive update from the company. But once UPDV lands in the pinks Kamal may just decide to never file because he no longer has to, so that's the risk.
AI
