Email update from John Campo I am posting this for informational purposes, not to try to convince people one way or another. No need to slam it, the company, or me. Only time will tell the whole story.
Opti
I had a phone call with our attorney, Nick Coscia, and the SEC regulator handling our case. It appears our only option is to consent to a revocation and have a broker/dealer file a Form 15c-211 with FINRA to re-register our company, I thought we could just have our audits ready in the next 10 days, but that is not the case. Once FINRA approves the Form 15C-211, DTC will link our old CUSIP number to our new CUSIP number, issue us a new symbol, and we'll continue where we left off. Your brokerage firm will show the same shares you have now.
Simultaneously, we need to file a new Form 10 with audited financial statements for 2015 and 2016, and a stub for Jan. 1- Sept. 30, 2017. This will go effective within 60 days of filing, the effectiveness of the 15c-211 should also be 4-8 weeks or less. Ideally we would like to file these on Oct. 1 so we include Sept. 30, therefore once we start trading in December, we have until April to file the 2017 10K to continue being current and subsequent 10Q's thereafter.
To this end, we will not need to have the quarterlies for 2015 and 2016, only audited financial statements for these two years plus 2017 until 30 Sept. Ultimately, its much less work for our accountants and auditors, although I know a lot of it has been done. Nothing changes with the share structure, everything remains the same, the only loss is time. In the meantime we will continue developing the company, the only difference is there won't be any trading during this process.
As of now that is the plan, I'll post the Form 10 on our website as well as update it with a better investor relations page. I'd like to send you regular updates so you stay informed and keep others informed. Once we start trading again, we'll be totally current with a much more developed company. I really tried to avoid this but the auditors took much longer than they agreed to.
Thanks,
John
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