Seems like the appeal is, was, or will be an easy win.
I could be dead wrong as it's kind of vague. "Then" eligible? When is "then" ??? The due date or the hearing date? If it's the hearing date....JBII wins. If it's the due date....they lose. What comes after the "or" about due dates is irrelevant.
Rule 6530: "whether the issuer's security is then eligible for quotation in the Service"
From the 10Q: "The Company believes that, as of the date of this filing, its stock is again eligible for such quotation"
The 10Q says they are eligible. The hearing officer will then confirm or deny if they are "then eligible" and bypass any need for a form 211. Form 211 only needed if the hearing officer does or did rule against them.
I know, I know....it means nothing in the long run. But it's still an interesting puzzle that I want to try to figure out. :)
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