So you don't think this will work?
"At the advice of our legal team and as part of the going forward plan (described below), we elected to enter into a settlement agreement with the SEC. As a result, the COHO shares will be deregistered effective upon notice by the SEC which is expected any day. This action means that our shareholders can still trade shares, however not through trading through broker dealer handled transactions.
Orie Rechtman, CEO commented: “We have a plan, that was described to the SEC. The SEC did not give approval, or provide any comment, on the plan and no approval for the plan by the SEC should be construed as having been given by it. The plan is more fully described below.”
The case with the SEC will be settled (which is about to take place once the SEC processes the paperwork). The next step will be to perform an audit for the last 2 years on one of the Company’s subsidiaries. Once the audit is completed, the subsidiary will file a Form 10 to register the subsidiary with the SEC. By registering, it will come under the jurisdiction of the SEC and will be required to file SEC reports as a reporting company. Current COHO shareholders will receive a dividend of the stock of the subsidiary based on their ownership in COHO shares, and will have the option to become shareholders of the newly listed company once it’s approved. The plan expects that the Form 10 filing will become effective under SEC rules, the subsidiary will be able to register with FINRA and obtain a ticker symbol for its shares, and a broker dealer will be found to make a market in the subsidiary’s stock, such stock would then be able to be traded through broker dealer transactions for shareholders of the subsidiary and new shareholders."
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