could possibly make a deal with the sec were part of the deal is that the company has a plan to get current and clean up the mess, with the goal of becoming active again? Don’t know enough about these situations.
that is exactly how revocations work. let me explain. the company has three options when it comes to the revocation hearing.
1) they can ignore it in which case they will be revoked.
2) they can appeal it in which case they will be revoked, it will just take longer. or.........
3 )they can accept the sec's recommendation of voluntary revocation. in that case it will be revoked but it leaves the door open for becoming a public company again. once they get their financial house in order they may submit audited financials for the past years along with a Form 10 to become public again.
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