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TenKay

03/15/18 4:26 PM

#179599 RE: stcks4prft #179593

"They do not have to show up at all until made public."

When a "draft" S-1 is filed with the SEC from an EGC, for non-public review it shows up on Edgar but the content is not accessible...and the review is done confidentially.

So you know there is something going on...you just don't have access to the information. It is not SECRET there is a filing...just the information IN THE FILING is kept confidential.

Regardless, EVERYTHING needs to be made public 15 days PRIOR to the requested effective date.

There are no secret registrations that suddenly show up AS REGISTERED which is the point I was arguing.

https://www.sec.gov/corpfin/announcement/draft-registration-statement-processing-procedures-expanded

We will review a draft initial Securities Act registration statement and related revisions on a nonpublic basis provided that the issuer confirms in a cover letter to the nonpublic draft submission that it will publicly file its registration statement and nonpublic draft submissions at least 15 days prior to any road show or, in the absence of a road show, at least 15 days prior to the requested effective date of the registration statement.