Sorry I had a big typo in my previous reply, and since I was to late to edit it, I now post the adjusted answer:
“Kevin lied to the Securities and Exchange Commission when he promised to file 10-Ks, 10-Qs, and 8-Ks on time as a condition of being allowed to sell stock to the public”
Kevin seems to have been filing in the best interest of the company and it’s shareholders to avoid dilution.
If such reasons suddenly happen, years after you made a promise, it isn’t a lie.
It’s like saying ‘honey I’m home at six’ and then not making it home in time due to heavy trafic.
Lying is when you know you're not speaking the truth, at the time you say something. At the time he made his promise to comply the sec rules, he probably didn't know what was going to happen.
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