The SEC is aware of companys who are not compliant,and will delist them.I have seen this happen before,unfortunately,I owned some shares of one of them.
I spoke with Dan a couple of weeks ago about delisting. He told me that ACTC was already delisted. I do not know what that means if this is true about them being in danger of being delisted. Dan said that ACTC went through this last year and it took several weeks to get this corrected. He also said that it would be corrected again. He also told my son the same thing last week. I call him at least once every week and will call him again on Monday. There seems to be a misunderstanding somewhere down the line. I will find out the answer.
de-listing would not be the proper terminology at this stage of the game. ACTC was de-listed from OTC:BB last June, they now trade pink and come May 15th or so they will be a full year behind.
The SEC consequences are two fold. 1)Revoked, stock trades no where. 2)Suspended You can view some of the SEC actions in link below. I have seen some get revoked when 9 months behind in filings and others that have not filed in 5 years. No rhyme or reason or set time tables.
The U.S. Securities and Exchange Commission today instituted two separate public administrative proceedings against a total of ten companies to determine whether the registration of each class of their securities should be revoked or suspended for a period not exceeding twelve months for failure to file required periodic reports. http://investorshub.advfn.com/boards/read_msg.aspx?message_id=35622921&txt2find=revoke
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