It appears to me that UPDV didn't fully understand Sarbox. Thus they need to reinstate past filings to correct errors. A monumental task in my opinion correcting all those past filings.
I don't believe for a second that UPDV prefers to be delisted, I sincerely believe that time is just not on their side. If demoted to the pinks they have plenty of time to play catch up. A one year sentence minimum. Should they get current with their filings while in the pinks, they can reapply to trade once again on the OTCBB.
Pinks isn't necessarily a death sentence, as some stocks trade well there. But for the most part, boring companies with no real "story", trading volume usually dries up to just about nothing making it very difficult to buy or sell at a decent price.
But technically UPDV has till 5:30PM Eastern time this coming Friday to file with EDGAR. I don't think there's a snowball's chance in hell of them doing that, but you never know. They can appeal a delisting decision by FINRA to the SEC, but all that will do is postpone the inevitable if they are indeed late with filing.
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