Reporting Requirements If a company registers its securities under the Securities Act, the company must then file periodic reports with the SEC under the Securities Exchange Act of 1934. The obligation to file reports continues at least through the end of the fiscal year in which the registration statement became effective. After that, the company is required to continue reporting unless the number of its record shareholders fall below the following "thresholds," in which case the company’s filing obligations may be suspended:
300 shareholders of the class of securities offered; or 500 shareholders of the class of securities offered and less than $10 million in total assets for each of its last three fiscal years. Even if a company doesn’t have to register its securities for an offering, it still may have to file reports with the SEC if the company lists its securities on an exchange or has record shareholders above a certain number - 2,000 generally. here
The SS of ELTZ is a moot point because the SEC will be suspending and revoking this scam sooner then later. It is also worthwhile to note that the T.A. Island Stock Transfer/Transhare have been charged by the SEC with illegal stock trading activity recently which basically renders anything they do or say as USELESS. Before the 7/8 months is up to consummate this deal between ELTZ/PCTI this ticker will have gone the way of the Dodo bird, EXTINCT. With hundreds of millions of shares trading on a daily basis the float certainly isnt just any 68 MILLION shares thats for sure.
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