DD Support Board and Research Team

[1manband]

I think it is good for shareholders?

Maybe, maybe not. SEC reporting is ALWAYS good for shareholders, and non-reporting Pink Sheet is ALWAYS bad for shareholders. However, I don't think this company is going to stay reporting. I think they really do want to go dark.

A couple of things really jump out at me from that filing. The first is that the original Form 15 requesting termination from reporting was filed on November 1, 2010. This Form 15 RW was filed 3 1/2 months later. That tells me that it is very likely the SEC was not going to allow the termination and contacted the company to that effect.

The second thing that I see matches with the first. Note this quote from the filing:

The Registrant is withdrawing the Form 15 because, while it believes that the number of common shareholders is less than 500 as is required under Section 12(g), it needs additional time to substantiate that belief.

I think the SEC has evidence that as of November 1, 2010, they did not have less than 500 shareholders, and therefore did not qualify for withdrawal from registration and reporting. Thus they filed an RW to satisfy the SEC and resume reporting. I also believe it is very possible, if not likely, that they will try again if they can substantiate they do have under 500 shareholders. In other words, it is likely just a temporary reprieve. I don't think it has anything to do with them trying to move up the listing to, say, the OTCBB. If that were the case, they would have said so.