Replies to post #97409 on TheDirectory.com Inc (SEEK)

[Milesblue42]

Why did Scott file a 10-12G-with-compensation-exemptions?

Is it possible the CEO is trying to do something?

Like possible keeping SEEK from being as Transparent as possible? What is it that Scott needs to keep from investors?

What exactly is it that Scott plans on taking advantage of with certain exemptions anyway?


So Scott is now Fully reporting but filed a 10-12G with exemptions for his compensation....huh?


http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9727793

JUMPSTART OUR BUSINESS STARTUPS ACT



We qualify as an “emerging growth company” under the provisions of the Jumpstart Our Business Startups Act (“JOBS Act”) as we do not have more than $1,000,000,000 in annual gross revenue and did not have such amount as of November 30, 2013, the last day of our most recent fiscal year. We are electing to use the extended transition period for complying with new or revised accounting standards under Section 102(b)(1) of the JOBS Act.

As an emerging growth company, we are eligible to take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies, including, but not limited to


• not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, or Sarbanes-Oxley Act;
• reduced disclosure obligations regarding executive compensation in our periodic and annual reports;
• not being required to comply with certain new requirements adopted by the Public Company Accounting Oversight Board, or the PCAOB; and
• exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and golden parachutes.


We intend to take advantage of the reduced obligations. Additionally, we also qualify as a “smaller reporting company” and also have the advantage of not being required to provide the same level of disclosure as larger public companies.