Absolutely right, Andy. And I expect that in short order someone will point out that the company subsequently explained that "the company’s sponsoring brokerage unexpectedly and without notice voluntarily shut down as of May 31, 2015".
There's no mention of any attempt ever being made to find an alternative sponsoring brokerage but there's something else that I found even more telling: Even though the phrase quoted above was used MANY times, at no point was the defunct sponsoring brokerage identified.
And when I say "at no point" I mean from December 10, 2013, when a press released was issued saying "the company has engaged a sponsoring brokerage and engaged counsel who shall serve as the company's Designated Advisor for Disclosure (DAD)" until the most recent Disclosure filed a month ago when it was still being used as an excuse ("On May 12, 2015 the company made an application for a tier change to the OTCQX (common) tier. When the company’s common stock fell in price beneath the $.10 threshold, and when our sponsoring broker shuttered his operation, our application went into hiatus."
ps. As I'm sure you know there are plenty of other references to intended uplistings in one form or another including some that required audited financial statements that occurred AFTER the company stopped producing them.
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