Replies to post #27423 on SunWorks Inc (SUNWQ)

[Chris111]

Thanks Buck, so what would the implications be if they meet larger company rules?

[StockRam]

GIGO?

[OTCdoc]

Sticky ;)

[buckylaw06]

Ok, just did a quick read of the actual SEC instructions, and my earlier post appears correct. As long as SLTD's public float was $75 million or greater w/in 60 days of filing, it was eligible to file the S3 without being subject to the 1/3 rule and also despite being traded OTC.

If you look at the instructions, you can verify this by seeing SLTD would qualify under provision 1.B.1. (on top of pg. 4), and therefore need not qualify under the alternative in provision 1.B.6. (bottom of pg. 5- top of pg. 6).
http://www.sec.gov/about/forms/forms-3.pdf

Also, the preliminary-type filing that SLTD did is permissible under 1.B.1. qualification, but does not appear permissible under a 1.B.6. qualification. (Per 2.F. on bottom of pg. 8)

This article may also be helpful: http://www.lowenstein.com/files/Publication/077332f5-f906-40f5-a9be-693f1fe21907/Presentation/PublicationAttachment/1fc5458d-493e-4ca6-b309-6ad11d292f82/SEC%20Expands%20Eligibility%20Requirements%20KD.%2001.08%20Derivatives.pdf