Replies to post #146035 on DD Support Board and Research Team

[janice shell]

DSR filed a form 10-12G on Friday. If the SEC doesnt respond in 60 days does that make the automatically qualified?

Yes. No matter what happens next, the Form 10 will become effective after 60 days, unless it's withdrawn. But the company will almost certainly hear from the SEC anyway. In that time, somebody from Corp Fin will read the filing and prepare a comment letter with questions and instructions for changes that need to be made. The company will then file an amendment. There might even be time for a second comment letter, followed by a second amendment.

If the filing raises more questions than can be addressed in that time frame, Corp Fin will suggest that the company withdraw the Form 10 and try again later, when it's better prepared. Some choose to withdraw the Form 10 and later file an S-1, which has an open-ended comment period.

[BullMarket34]

So are you suggesting they filed the 10-12g in order to allow themselves (the principals) to sell their restricted shares

[integral]

That is the "Evergreen Rule"

The SEC can do one of two things, contact the issuer to withdraw or allow the registration to go effective automatically. What the SEC can do on option two is revoke the registration. They have been known to take option two.