After they submitted the S-2 in October, the SEC probably had some issues for DNAP to resolve by amending not only the S-2, but selected periods of reports. I believe they are still in a "quiet period" and although they may still release PR's during this time, DNAP probably is taking the safer road of clamming up all together and not risking unnecessary delays.
Here is what one company had to say about their quiet period:
When a company files a registration statement to register a security for resale, it enters into a quiet period. While the term 'quiet period' is not found in federal securities laws, the Securities and Exchange Commission (SEC) says that it "extends from the time a company files a registration statement with the SEC until SEC staff declares the registration statement 'effective.' During this period, the federal securities laws limit what information a company and related parties can release to the public. New Visual entered this period when it filed its registration on February 10, 2004 and exited it on August 17, 2004.
On August 16, 2004, the Wall Street Journal, in an article entitled, "SEC May Update Rules Governing IPO 'Quiet Period'", described the rules as "murky", further stating, "Given the hazy rules, companies often clam up and stop communicating any information about the business. Companies that run afoul of quiet period rules risk action by the SEC, including a forced delay of their offering . . ." We at New Visual are like many companies, and restricted our communication to the filing of our quarterly reports. It was important for us to protect the long-term interests of our valued shareholders when so many of you were rightly curious about the progress we were making.
Now that we are no longer in the 'quiet period', we can communicate much more freely and plan to provide you with many updates in the weeks ahead.
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