All SEC Suspended stocks get re-instated on the eleventh market day from the onset of the Suspension.
XNEZ as well as ALL Sec Suspended stocks are re-instated to the Grey Sheets because no quotations are permitted when a suspension ends.
Furthermore, since XNEZ is delinquent in filing Financials since 2008 the SEC Admin Law Judge will revoke the stock registration.
Excerpts from the Admin Proceeding that accompanied the SEC Suspension:
5. XNE, Inc. (“XNEZ”) (CIK No. 1069778) is a revoked Nevada corporation located in Woodland Hills, California with a class of securities registered with the Commission pursuant to Exchange Act Section 12(g). XNEZ is delinquent in its periodic filings with the Commission, having not filed any periodic reports since it filed a Form 10-Q for the period ended September 30, 2008, which reported a net loss of $632,181 for the prior nine months. As of March 25, 2014, the common stock of XNEZ was quoted on OTC Link, had seven market makers, and was eligible for the “piggyback” exception of Exchange Act Rule 15c2-11(f)(3).
B. Whether it is necessary and appropriate for the protection of investors to suspend for a period not exceeding twelve months, or revoke the registration of each class of securities registered pursuant to Section 12 of the Exchange Act of the Respondents identified in Section II hereof, and any successor under Exchange Act Rules 12b-2 or 12g-3, and any new corporate names of any Respondents.
Since January 1st 2010 the SEC Admin Law Judge has revoked the registrations of 1025 stocks that were Suspended for failure to file Financials.
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