Replies to post #7078 on Locan, Inc. (fka LOCN)

[LuckyMe77]

Status: Merged


https://www.sos.ok.gov/corp/corpInformation.aspx?id=1912171371

[frak]

Found this definition....

Shell company: The term shell company means a registrant, other than an asset-backed issuer as defined in Item 1101(b) of Regulation AB, that has:

- 1. No or nominal operations; and

- 2. Either:
-- 1. No or nominal assets;

-- 2. Assets consisting solely of cash and cash equivalents; or

-- 3. Assets consisting of any amount of cash and cash equivalents and nominal other assets.

[bman17]

Hmmmm, interesting...!!!

From the 10K for the period ending 3/31/2010, it is a shell company:

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).

Yes þ No ¨

page 2
http://www.sec.gov/Archives/edgar/data/1431837/000122527910000220/f101025locan10k03312010.htm

But from the 10Q for the period ending 6/30/2010, it is no longer a shell:

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No þ

page 1
http://www.sec.gov/Archives/edgar/data/1431837/000122527910000221/f10102510q06302010locan.htm

And then reconfirmed in the 10Q for the period ending 09/30/2010:

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No þ

page 1
http://www.sec.gov/Archives/edgar/data/1431837/000122527910000222/f10102510q09302010locan.htm