Rule 13a-1 requires issuers to file annual reports, and Rule 13a-13 requires domestic issuers to file quarterly reports.
Foelak came right out in her ID ruling and agreed with Enforcement that DBMM BROKE BOTH those statutes!
Reporting companies that do not to comply with these requirements face that risk that their securities will be suspended for up to twelve months, or their Exchange Act registration will be revoked.
Section 12(j) of the Exchange Act, grants the SEC the authority to revoke a company’s Exchange Act registration when it has a history of delinquent filings.