Often times a company will have it's SOS license revoked when they don't pay their license fee after two years. All companies need to keep up with their business licenses as well as the officers running the company.
Several OTC companies do this but still pump out PR's regardless of that license status.
I'm not sure how they get permanently revoked as it may be a combination of not paying or updating the license after so many years or they suspect fraud.
I watched HPNN just go to revoked after being in default for over two years.
It has nothing to do with Quarterly or Annual filings either. It's simply a business license that ALL public companies need to make sure they are current.
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