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Sleepy$$$

10/10/14 4:36 PM

#37698 RE: stringofpearls #37692

Correct. The company will be updated on what the issue is in 30days. Amazing they are just now beginning this. Not like going down to the dmv and paying a few parking tickets. slow process from what i know. 2015?

surfkast

10/10/14 4:39 PM

#37699 RE: stringofpearls #37692

Do you think he will stick around for 30 days? Looks like attorneys are bailing faster than rats on a sinking ship.
What about audited financials and SEC filings?


Renee Member Level Wednesday, 09/24/14 08:16:03 PM
Re: stervc post# 31458
Post # of 37697
Sterv...the last filed 10Q reported in 2010 had INCC's Outstanding Shares at approximately 123 million. Then the company filed a FORM 15 to no longer file and to de-register the stock.

Now the Outstanding Shares are over 1.7 billion as I recall.

Just a hunch, but I'll bet that discrepancy in O/S had a bit to do with the DTCC chill in 2012, though the O/S wouldn't have likely been that high at the time of the chill.

Regarding any company registering with the SEC for the first time the audits need to include the last two years of operations or from the time of operations inception if the operations are less than 2 years.

For companies that voluntarily de-register their stock to intentionally go dark the SEC will require a full, audited accounting since the last audited 10K, which was 2009 for INCC. It is a monumental task to audit 5 years of operations. The SEC contends and WARNS investors on their website that de-registering is usually to hide activities that may be nefarious. So, the SEC will examine every material activity of INCC from the date of the last 10K in 2009 to ensure adequacy and accuracy of every entry.

I have studied Form 10s of former File 15 filers and the SEC sends formal letters asking for clarifications to infintesimal details.

WHITEMIKE

10/10/14 4:44 PM

#37704 RE: stringofpearls #37692

You're correct.

I wouldn't expect the chill to be removed within 30 days anyhow. Placing a timeline on anything is dumb.

They even missed the timeline for the PR to be released.

-WM