"What happens from Grey market to Revocation of the actual ticker. Is there a time frame? A legal process? A series of events what makes that happen?"
From the Admin. Proceeding linked below, which is similar to most Admin. Proceedings for suspended, delinquent, registered companies, the company must respond within ten days or the A.L.J. will revoke their registration(s) on DEFAULT sometime after the ten day window....could be days or weeks or longer, depending on their whim or schedule. If the company does respond during the ten days then the company will be granted a Hearing where they can plead their case. The Hearing is really a formality because the evidence of delinquencies is incontrovertible, but nonetheless that process is available.
It really is in the company's best interests to respectfully acknowledge their unacceptable delinquencies and accept revocation IF the company has any intentions of submitting a FORM 10 or an S-1 to re-register....just goodwill gestures that show deference and respect to the SEC and the Admin. Law Judges.
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