My guess is they file before then. But who knows. The incompetency witnessed in this deal in the past in what would usually be real simple straight forward stuff has been jaw drop astounding.
As far as likliehoods if they don’t file.... first thing guaranteed would be otc would revoke QB status and throw up the caveat emptor “skull & crossbones” not a good look and it would cost thousands of dollars in legal and certification fees and attorneys and time to get the QB back. Carry the skull and crossbones for a month or two and it would do wonders for the deal.
As far as the SEC - couldn’t say. Suspension of trading is definitely a higher possibility than decertification. I don’t think they think it’s a case of ongoing fraud and organized criminal activity. Just plain old incompetence
Either way it all looks terrible. Today’s DELINQUENT SEC REPORTING status red X is across every retail trading platform, brokers, market makers, family office etc etc. That’s the worst thing IMO - terrible terrible optics that keeps the deal categorized for too many people as trash. And the most frustrating thing is all of it is avoidable if they were reasonably competent managers.
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