Replies to post #74505 on QSGI, Inc.(fka QSGI)

[jaxstraw]

If they are delisted by having their registration revoked there is no 'relisting'

All shares are cancelled and cease to exist.

There is no brighter side....it is past the point of just fulfilling the SEC requirements Sherman thumbed his nose at that for years. Multiple warnings were then sent to do so were and ignored. They are now in an Administrative action phase for that also.

They can no longer just undo this by catching up on filings. There are penalties (revocation) being sought for letting the stock trade on inadequate information after being warned.

[jaxstraw]

I think the question is now who sues Sherman first .

Doling out restricted shares for lawyers, management who are no longer employed, acquisitions, and past settlement decisions is not going to go over well when it is determined it was his actions that now will cause those shares to be totally worthless before the restrictions could be lifted and the stock sold.

This company will file for Chapter 22 before it is all over.

[trader1998]

There is NO bright side:

"QSGI’s violations are thus serious.As it now acknowledges, its financial situation from 2011 to 2014...was so precarious that it could not afford to comply with its reporting requirements. Id. at 3-5. This fact makes QSGI’s violations all the more serious"

[jaxstraw]

Does anyone here care to admit just how many shares they possessed when this stock was cancelled ?