Calypso Wireless (fka CLYW)

[Eli's Gone]

Going dark here voluntarily IMO is not the answer---in fact we are on the grey sheets because we went dark...that said there is a mechanism:...file a form 15...

http://www.foley.com/files/tbl_s88EventMaterials/FileUpload587/650/Taking%20a%20Public%20Company%20Private.pdf start around page 14

to get under the 300/500 shareholder threshold, the company would have to do a R/S of whatever magnitude needed to flush out small holders--then follow this with a F/S...if this threshold is then met, there is a sticking point of having to be current in your filings to do this--see page 16...this option is/was not intended for delinquent companies to absolve themselves of reporting obligations...and this "option" is only a suspension of your obligations to file--if your shareholder base once again exceeds 300/or 500 with > $10M in assets, your filing obligations resume...

then there is the current market situation regarding non-reporting issues in general---not a place investors want to be as we now experience...

as to the shareholder meeting, there are SEC exemptions available to delinquent companies allowing them to hold meetings---the purpose of the regulatory bodies is not to shut the shareholder voice out but quite the opposite...