InCapta Inc (INCT)

[murmel007]

A domestic US company will generally do this by using Rule 12g-4, which provides for termination by filing a Form 15 certifying that the company either (1) has fewer than 300 record holders or (2) has fewer than 500 record holders and less than $10 million in assets as of the last day of each of the company’s last three fiscal years. (In a merger scenario, the target company typically becomes a wholly owned subsidiary of the acquiring company, hence it has only one holder.)
Foreign private issuers proceed under Rule 12h-6 and Form 15F. The requirements of Rule 12h-6 and Form 15F are somewhat different than those of Rule 12g-4 and Form 15. We are going to focus on domestic filers for the moment, but if you would like to understand how this works for foreign private issuers, see pages 10-11 of our book on foreign private issuers.1
Note that the Form 15 does not take effect immediately — under Rule 12g-4, the form takes effect 90 days after filing (or such shorter period as the SEC may determine). But unlike its cousin, Form 25, the act of filing the Form 15 immediately suspends the issuer’s SEC reporting obligation (see Rule 12g-4(b)). So, you do not need to file required periodic or current reports even though the Form 15 has not yet taken effect. See C&DI



effect 90 days