IT IS ABSOLUTELY INACCURATE to claim UBRG has until today to file their NT or 10k.
Their filing period FOR YEAR END JUNE 30, 2013 expired YESTERDAY AT MIDNIGHT.
UBRG missed this deadline WHICH IS WHY their LISTING TIER was downgraded to "Limited".
UBRG, prior to last night at midnight was listed on the OTCQB and is now downgraded to OTC LIMITED.
What does "limited" mean?
The hierarchy of the OTC "Pink Sheets" exists to tell investors through the tiers about the quality of the company's reporting history and other factors.
The higher the tier, the more conforming the company is seen.
UBRG now sits and trades under the lowest tier because they've now been classified as offering "limited" financial information to investors MEANING there is far more risk.
Do your research on this downgrade.
The company misse their filing deadline. They did not file an NT or a 10k and because of that, the company will NO LONGER BE ABLE TO CLAIM they've always filed on time.
This is a death knell for the company. It is absolute PROOF of absolute financial distress that Ali and Guest are now OFFICIALLY hiding from investors.
There is no MAGIC extra day to file your NT or 10k, Q, etc.
The reporting period ended June 30, 2013 and they had 90 days to file. Those 90 days could only get extended through a grace period offered AFTER filing an NT on time. With a timely NT filing they'd have earned up to 15 grace period days to file the 10k but they needed to file that BY SEPTEMBER 30, 2013 or file a 10k or notice of late filing by Sept 30.
There's no magic extra day...any claims of an extra day are wrong.
The proof? The downgrade in listing quality as seen by the tier change downgrade.
This stock is garbage and it's now officially ran by two guys who either cannot file on time or do not want to file on time.
AI
