InvestorsHub Logo
icon url

stonsetr

02/23/13 10:30 PM

#65019 RE: stonsetr #65017

CBP
A few additional topics;
I asked why they were unable to file on time. Mark told me there were several factors. Apparently there was employee illness that had an unfavorable affect. He also mentioned that they are implementing stricter accounting guidelines which has also slowed the process.
Another point I brought up with him was my concern about their website being down. I am happy to see that is now online.
Now I just hope their numbers are good when they come out!
icon url

prokopton

02/25/13 1:35 AM

#65040 RE: stonsetr #65017

CBP "He said they plan to file the 10K in the beginning of April and the 10Q bt the end of April."

Just to clarify for those who haven't been keeping up. The stock can begin trading again as soon as, if or when, the NYSE approves its Compliance Plan before April. The company said it has already submitted the compliance plan and is waiting for a reply. So, there's a small chance we may see the stock trading again before the 10K and 10Q filings.

------------------

In order to maintain its listing, the Company must submit a plan of compliance (“Compliance Plan”) by February 14, 2013 advising of actions that Company has taken or will take to comply with Sections 134 and 1101 of the Company Guide by May 1, 2013. The Compliance Department will evaluate the Compliance Plan and make a determination as to whether or not to accept the Compliance Plan by May 1, 2013. In the event the Compliance Plan is accepted, the Company will remain listed during the plan period and will be subject to periodic review to determine whether progress is being made pursuant to the Compliance Plan. In the event that a Compliance Plan is not submitted, accepted or progress is not made under the Compliance Plan during the plan period, the Exchange staff may initiate delisting proceedings in accordance with Section 1010 and Part 12 of the Company Guide.