Epicus Communications Group Inc. (fka EPCG)

[hugh_jackoman]

I know but EPCG is going to get revoked. I posted it because it's a company that made a bunch of excuses why they couldn't file the periodic reports and they didn't wanna hear any of it. Didn't Gelmon claim he was going to fight it?


Cobalis argues that it should not be penalized for failing to file the periodic reports, stating that it has been the victim of a nefarious creditor and stockholder, YA Global Investments, LP (f/k/a Cornell Capital Partners LP), and related entities (collectively, YA Global). Cobalis states that YA Global has forced it into bankruptcy, such that it will be unable to raise capital, through dubious financial maneuvers and misrepresentations, in part intended to drive Cobalis’s stock price to zero and to enable YA Global to steal Cobalis’s intellectual property. Cobalis states, without providing detail, that new accountants and auditors are working on the matter and that all filings will be up-to-date shortly. Cobalis argues that this proceeding should be dismissed, or at least that summary disposition should be denied, to give Cobalis time to best YA Global and eventually file past-due and current reports.

III. CONCLUSIONS OF LAW
Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 thereunder require public corporations to file annual and quarterly reports with the Commission. “Compliance with those requirements is mandatory and may not be subject to conditions from the registrant.” America’s Sports Voice, Inc., 90 SEC Docket 879, 885 (Mar. 22, 2007). Scienter, which is often described as “a mental state embracing intent to deceive, manipulate, or defraud,” is not required to establish violations of Exchange Act Section 13(a) and Rules 13a-1 and 13a-13. See SEC v. McNulty, 137 F.3d 732, 740-41 (2d Cir. 1998); SEC v. Wills, 472 F. Supp. 1250, 1268 (D.D.C. 1978). It is undisputed that Cobalis failed to file its required periodic reports for any period after the quarter ended December 31, 2007. Accordingly, Cobalis violated Exchange Act Section 13(a) and Exchange Act Rules 13a-1 and 13a-13.

http://www.sec.gov/litigation/aljdec/2010/id407cff.pdf