So maybe I'm missing something, but to me, the Form 12b-25 is fairly explicit as to the duration of the extension. JF even put an 'X' next to the applicable rule set which states:
"The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, 11-K or Form N-SAR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report of transition report on Form 10-Q, or portion thereof will be filed on or before the fifth calendar day following the prescribed due date;" https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12289078
What is the benefit of filing the Form 12b-25? If the conditions of the Rule are met, filing the Form 12b-25 gives the issuer 15 additional calendar days to file a late annual report and five additional calendar days to file a late quarterly report. Moreover, if the report (or the incomplete portion) is actually filed within the 15-day or five-day grace period, the report is deemed to have been timely filed.
So it would seem that the 'prescribed due date' is equivalent to the original due date of the Q, which would put us WELL past the 5 day extension. Also of note on the Form 12b-25 FAQ was this:
Can the original extension be renewed by a second filing? No. Issuers receive only one automatic extension per filing. In the absence of extraordinary circumstances, as determined in the sole discretion of the SEC’s staff, no further extensions are available.
So, again, unless I am missing something here, and I'm sure there will be many helpful folks ready to tell me about it if that is the case, it would seem the OTTV has an "extraordinary circumstance" on their hands....
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