Obviously it should be the other way around - eg if you fail to file for however many quarters, a computer automatically sends you a revocation notice; you can request a hearing if you want within 21 days or whatever, but if you don't then your stock goes phhht, automatically.
I agree. They really ought simply to take out all of the delinquent filers at one whack. It's not exactly rocket science: either you've made the required filings, or you haven't. It could be something like FINRA's removal of 51,000 dead tickers a couple of years ago.
And it should be extended to exchange-listed stocks. If you're on the NYSE or Nasdaq and miss a K, they'll give you 18 months or more to get it in.
I think they should be held to a higher standard.
