Spongetech Delivery Systems Inc (fka SPNGQ)

[OldTymer]

lucky, it's my understanding that in addition to banning them from participating in a public company and having their registration revoked, they can also force them to resign. But maybe you are correct. Maybe they can't 'force' them to resign? There was a situation a few months ago (can't remember the stock symbol) where the SEC forced the CEO to step down. He then turned the company over to someone else. I was under the impression that if a company has their registration revoked, it does not mean they automatically become a private company. They would then have to take their company private via another filing. Am I wrong with this assumption?