Replies to post #97662 on Bayport International Holdings Inc. (BAYP)

[DragonBear]

However a Form 10 is not effective until accepted by the SEC. Try filing a BS form 10 and see how, and how soon, the SEC responds.

Unless the Form 10 is deficient (e.g. no audits) it will become effective 60 days after submission. It's automatic. A subsequent S1 is something where the SEC can take an indefinite amount of time.

Where the SEC would nail the BS would be the required 10K filing within 60 days of the Form 10 being effective. By then any auditor for BAYP, signing the Form 10 audits, would also be getting roasted by the PCAOB. This scam would become easy road kill for regulators.

As we have both pointed out, no need for Porter to invite regulatory scrutiny, when he can do just about anything he wants in the pinky-OTC world.

After Dec 2015, the Form 10/audit nonsense gets to recycle itself. Instead of needing 2013, 2014 audits, the mythical Form 10 would need 2014, 2015 audits. Another year of it's coming every 10 days.