Good grief.....it is 'alleged' QSGI hasn't filed 16 required filings for over three years......what would be their explanation to the allegations...... ..... they did ?
LMFAO.
And it is only temporary now.......wait until the Administrative hearing when Sherman has no defense for the 'alleged' filings he ignored.
Not having the cash to file is not a valid explanation. He should have filed a 15d if he knew he wasn't going to file.
Instead he did the absolutely dumbest thing he could do.....not file for years or file a 15d....and then ignore the SEC twice when the sent him notifications of non compliance.
Stick a fork in it.....Sherman totally screwed the pooch ......And pretty much all investors holding shares here.
Any shareholder that doesn't dump their shares if there is a resume of trading between this suspension and the Administrative hearing will most likely lose their entire investment after the hearings determination.
It will not end well......they never do.
And it is pretty easy to see why the CFO quit now (notice they have not hired a new one even though one would desperately be needed now)..........even he sees there is no reason for him to be onboard now. I was wrong about the reason....I thought it was Sherman's separate fraud case with the SEC but it wasn't at all......It was this absolute mess.....Without being obligated to file once the registration is revoked this tiny company just needs a good bookkeeper...not a CFO.
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