Excerpts from the ADMIN Proceeding: (red hilites mine)
I have added a link to the SEC Administrative Law Judge (A.L.J.) for readers to peruse. Note that the SEC A.L.J. has revoked over 540 registrations in the past 2 years on DEFAULT reasons, where a Suspended company did not immediately file delinquent Financials as Ordered. Most revocations occured within one month of the SEC Suspension.
Quintek Technologies, Inc. (CIK No. 1107714) is a suspended California corporation located in Huntington Beach, California with a class of securities registered with the Commission pursuant to Exchange Act Section 12(g). Quintek Technologies is delinquent in its periodic filings with the Commission, having not filed any periodic reports since it filed a Form 10-QSB for the period ended September 30, 2007. On August 6, 2003, a permanent injunction was entered against Quintek Technologies, enjoining the company from violations of the Exchange Act, including Section 13(a).
B. DELINQUENT PERIODIC FILINGS
7. As discussed in more detail above, all of the Respondents are delinquent in their periodic filings with the Commission, have repeatedly failed to meet their obligations to file timely periodic reports, and failed to heed delinquency letters sent to them by the Division of Corporation Finance requesting compliance with their periodic filing obligations or, through their failure to maintain a valid address on file with the Commission as required by Commission rules, did not receive such letters.
B. Whether it is necessary and appropriate for the protection of investors to suspend for a period not exceeding twelve months, or revoke the registration of each class of securities registered pursuant to Section 12 of the Exchange Act of the Respondents identified in Section II hereof, and any successor under Exchange Act Rules 12b-2 or 12g-3, and any new corporate names of any Respondents.
IT IS HEREBY FURTHER ORDERED that Respondents shall file an Answer to the allegations contained in this Order within ten (10) days after service of this Order, as provided by Rule 220(b) of the Commission’s Rules of Practice [17 C.F.R. § 201.220(b)]. ------------------------------------------------------------------
Excerpt from the SEC Suspension that clearly shows that QTEK will trade on the Grey Sheets after the ten day Suspension, with no Market Maker representation:
Brokers and dealers should be alert to the fact that, pursuant to Exchange Act Rule 15c2-11, at the termination of the trading suspensions, no quotation may be entered relating to the securities of the subject companies...
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