when you know you are under the sec's radar you want to make sure all your i's are dotted and t's crossed,especially coming out of the darkest regulatory environment from 2009-2017. So this may delay any announcement to make sure everything is right.
but they dont want to unnecessarily extend the well news blackout time frame either,bc the longer such a blackout period lasts the more likely something is to improperly slip out-as in social media by romanian well workers.
btw, institutions which use other peoples money are bound by fiduciary duty to protect their clients interests. institutional ownership rose since ZN was added to the russell 2000 and 3000 institutions will often work out in advance what types of events will trigger their fiduciary duty to sell stock via committees.
I figured such SEC notice might be on some institutions list and thus pps might go sub 3 dollars -esp as pps was 2.88 june 7.
but due to lack of volume to handle institutions market orders they would have to do so in a planned manner. Dont know how fast such entities would react.
If ZN posted a positive substantive PR that would reduce risk in the eyes of such entities so these are just 2 of the opposing variables re the release of a PR. And you dont want to be in the SEC's face by publishing a grand PR immediately after receiving such (june 21) an SEC notice,for the agencies during the dark period often proceeded without due process or congressional and constitutional oversight.
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