Replies to post #3330 on TXP Corporation (fka TXPO)

[choo choo trader]

Skidos,

I quess anything is possible,but I don't agree with your take on TXP's strategy to just sit back and do nothing, waiting on a filing deadline to effect mandatory delisting from the OTC.

As I have mentioned before,if delisting from the OTC in order to save money is the direction TXP is headed,I don't think they would have filed the form NT(notice of late filing).

In today's market delisting to save the burdensome SEC filing expenses is a viable option for many small companies,and we are seeing more and more companies doing this. However,if this were the intent of TXP, why didn't they just go ahead and file a Form 25(notice of voluntary delisting)instead of the NT?

Any reputable company wouldn't intentionally just sit back,and wait to miss their filing deadline,so they could receive the penalty of mandantory delisting in order to save money. If delisting from the OTC to save money is TXP's intent,they would file a Form 25 with the SEC stating their intentions and then file a Form 15 which consumates the withdrawl.

Mandantory delisting is one of the strictest penalties the SEC can place on a company. It is a tainted stain that never goes away. I just don't see TXP allowing this to happen. Pink Sheets may be,but not this way.

choo

[choo choo trader]

Skidos,

After doing more research on TXP's situation I need to correct my previous post to you. I applied NASDAQ rules to TXP instead of the OTCBB rules when I mentioned SEC Forms 25 and 15 pertaining to voluntary withdrawl of a listed security. It seems TXP,as well as all OTCBB companies, cannot voluntarily withdraw from this exchange. They have to be removed for failure to file the required regulatory documents or when the last registered Market Maket withdraws from the stock.

The following is from OTCBB FAQ:

When can a company be "delisted" or removed from the OTCBB?
OTCBB issuers that become delinquent in their required regulatory filings will have their securities removed from the OTC Bulletin Board. Further, all OTCBB issues must maintain at least one registered Market Maker to remain on the OTCBB. When the last Market Maker in a security withdraws from the stock, the issue is removed from the OTCBB after 4 days pursuant to Rule 15c2-11. An issuer cannot voluntarily withdraw from the OTCBB; only a market maker can voluntarily withdraw its quote from the OTCBB. If an OTCBB security becomes listed on NASDAQ or another exchange, it will no longer be eligible and will be removed from the OTCBB.

http://www.otcbb.com/faqs/otcbb_faq.stm

I still think TXP will file before their grace period is up. One thing for sure,we will find out soon.

choo