LeClerc & company had better NOT be late filing this time. Read below the consequences are beyond extreme for all involved. NO false doubt needed as these are rules that have to be followed! http://www.mbbp.com/resources/business/rule12b-25.html What happens if the issuer fails to file the report by the extended deadline?
The obligation to file annual and quarterly reports originates in Section 13 or 15(d) of the Exchange Act, and the rules promulgated thereunder (see Rule 13a-1 and Rule 13a-13). The SEC has the power to enforce its rules by instituting enforcement actions against a delinquent issuer and/or its officers and directors seeking monetary or other penalties, including revoking the issuer’s registration pursuant to Section 12(j) of the Exchange Act.[2] In the absence of egregious and/or repeated violations, or inferences of fraud, however, the SEC is more likely to rely on the stock exchange(s) to police listed companies. Section 1002(d) of the NYSE Amex's Company Guide, for example, permits the exchange to suspend trading or delist a company’s securities altogether for failure of the company to file its quarterly annual reports. The OTC Bulletin Board has a more specific “three-strikes” rule, FINRA Rule 6530(e), that prohibits the OTCBB from quoting the securities of any issuer that is delinquent in its reporting obligations three times in a 24-month period. Missing this one would be 3 strikes/misses just since June 2011 http://www.otcmarkets.com/stock/FBCD/financials just called back 1-212-896-4420 & it is 5 calendar days, so due 12/20/11. Also SEC guidelines Notification to SEC of Inability to File on Time If an annual report on Form 10-K or a quarterly report on Form 10-Q is not filed within the required time period, the issuer must file with the SEC within one business day of the due date for the report a Form 12b-25 (designated as an “NT 10-K” or “NT 10-Q” in the EDGAR filing system) disclosing its inability to file the report timely and the reason for the delay. If a Form 10- K or Form 10-Q cannot be filed timely, because the company is unable to file “without unreasonable effort or expense”, the report will be deemed to be filed on the filing due date if the company timely files a Formb-25, and then files the report not later that the 15th calendar day (for a 10-K) or 5th calendar day (for a 10-Q) following the due date for the missed report. http://www.chadbourne.com/files/Publication/8c793188-13cd-4b5c-8894-981185b4d15a/Presentation/PublicationAttachment/2a46a74c-d333-46a4-991e-9a3bc2c378f0/WhatLateSECFilersNeedtoKnow_BloomLaw102005.pdf
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