PCTL 10K filing> In a press release that accompanied the order, the SEC indicated that it would take the following positions with respect to certain obligations under the Securities Act of 1933, as amended, and the Exchange Act with respect to the order:
Companies that receive an extension on filing Exchange Act annual reports or quarterly reports pursuant to the order will be considered to have a due date 45 days after the filing deadline for the report. As such, those companies will be permitted to rely on Rule 12b-25 if they are unable to file the required reports on or before the extended due date.
Form 12b-25 provides the issuer with 15 additional calendar days to file a late 10-K and five additional calendar days to file a late 10-Q. Moreover, if the late report is filed within the 15-day or five-day extension period, the report is deemed to have been timely filed.
The SEC also stated that it will address other issuer-related COVID-19 issues on a case-by-case basis in light of their fact-specific nature.