I asked this on another board about LDSR filing Form 10-12G. But basically if the SEC doesn't respond they become a qualified SEC reporting company. The answers I got didn't paint a pretty picture for LDSR or the odds of it happening. But the state of the US government and SEC backlog makes me wonder if they'll be able to respond in time. If that happened (big if) I wonder what the retail reaction would be.
SEC Form 10-12G is less common than Form S-1 Registration Statement, which is usually used in connection with an Initial Public Offering of Securities. SEC Form 10-12G Registration Statement only registers shares; it does not create free trading shares. Unlike a Form S-1 filing, a Form 10-12G Registration Statement is automatically effective after 60 days. On a go-forward basis, filers of SEC Form 10-12G are required to periodically file Form 10-Q, Form 10-K and Form 8-K.
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