cubs (& All), with this filing info...
That's good intel to post here elaborating on the UNGS filing yesterday. The rule clearly states that if such was the result from the issuer's merger into, or consolidation with, another issuer or issuers, the certification shall be filed by the successor issuer. I must admit, that’s a piece that I never paid much attention to, but is good to know.
To add, the filing under Sections 13 or 15 by Rules 12g or 12h is really not as big a deal as it sounds as it is only to terminate or suspend the duty to file reports with the SEC. Most pink sheet stocks that many investors trade/invest in are already deregistered with the SEC… they just don’t know or realize it. It just means that they will not be required to file their financials and/or 8-Ks per SEC requirements; primarily audited financials won’t be required to file with the SEC or have to be completed.
This is a huge savings for the company to where they are saving themselves lots of money. It means that they have elected to trade on the pink sheets within the OTC Markets realm as it is also recognized as a now respected market arena for transparency. Heck, since they have already been trading on the pink sheets/OTC Markets, they probably figured “why not” to do such as they have done.
Transparency is the primary reason why a stock generally files with the SEC that trades, but now with the emergence of the OTC Markets being respected for delivering transparency, many companies have chosen this route, especially since it is a much cheaper standard to adhere to. Investors have accepted this throughout as another means of existing to prove the legitimacy of a company without having to file audited financials.
Again, this is really not such a big deal as it positions the company to not be required to SEC filing requirements and to be subjected to the time constraints involved. Any news of substance will be recognized just the same by investors with or without this deregistration. This is basically a norm that many companies is now implementing. So in short, I still believe we are fine.
v/r
Sterling
