SEC Suspensions & Revocations

[Renee]

The SEC always tries to contact delinquent SEC Filers before initiating a Suspension. I surmise U.S. Fuel Corp. responded to the SEC's inquiries regarding the company's delinquent Financials thereby avoiding a Suspension, but the stock was included in the Admin Proceeding which formalized the SEC's demands to file all delinquent Financials.

It is important to note that U.S. Fuel Corp. offered to let the stock be revoked rather than having the stock revoked on DEFAULT.

By voluntarily letting the stock registration to be revoked it allows the company the opportunity to file a FORM 10 to register new stock. Filing a FORM 10 will require audits dating back to the last audited Financials, a task the company apparently was unable to do under the immediate timelines of the Admin Proceeding.

Excerpt from yesterdays revocation ruling:

The Securities and Exchange Commission (“Commission”) deems it necessary and appropriate for the protection of investors to accept the Offer of Settlement submitted by U.S. Fuel Corp

http://www.sec.gov/litigation/admin/2014/34-71495.pdf