Typo mistake in that a NON REPORTING COMPANY DOES NOT have
to report to the SEC for various reasons, idleness, lack of business, expense in filing etc. But ALL PUBLIC COMPANIES
WITH THEIR DIRECTORS AND OFFICERS HAVE A DUTY TO THERE SHAREHOLDERS TO DISCLOSE MATERIAL CHANGES TO A COMPANY THAT
WOULD ADVERSLY AFFECT THE VALUE TO THE COMPANY OR AFFECT THE
SHAREHOLDERS ASSET IN SAME. Also non reporting does not mean
that the company does not have to file their tax returns
both federal & state if need be on a timely basis.
Any contract made by the company that is made for revenue
etc., is public information as then the insiders would have
an edge on the public in buying or selling stock and witholding
that information would constitute violating the insider trading rules established by the SEC., and also state rules
regarding insider trading. So in essense if they are holding
back a firm contract that also does at this juncture is a material fact because of their lack of revenue or business
that they have not reported would in my opinion be a Material
change because if the company is tradng stock or thru a third
party which by the way is easily accessable when you start a process they would be in violation of the insider trading
rules that apply.
I am gettng ahead of myself here and am waiting for their reply
with the hope that we all can go forwrd in an orderly way
and see this company come into its own and be a success.