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This is when a reporting company files to become non-reporting with the SEC. They must no longer meet certain obligation to be able to file this. But after they file, they are no longer obligated to file financial's, s-8's, 8-k's, or any other filings with the SEC. Now all exchanges require that you file so by filing a form 15-12B they will trade on the pinks. If they are not there anyway. There is a misconception that all pinks don't have to file. That is absolutely false. Pinksheets don't require filings but it you filed to be reporting to the SEC then you must file no matter what exchange you are on. It is just that most exchanges require filings. So the only way to stop filing is to file a form 15 with the SEC. And yes its bad. Because now you will no longer know what the company is up to or if they are making money or printing shares like crazy.
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15-12B: Certification of termination of registration of a class of security under Section 12(g) or notice of suspension of duty to file reports pursuant to Section 13 and 15(d) of the Securities Exchange Act. Section 12 (b) initial filing. A Form 15-12B is filed by companies with a Commission File Number prefixed by 001-.
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Hey Ric, Thanks for the link to the various filing documents. That's just Great stuff, been looking for that resource for a while.
quote:Originally posted by Ric: This is when a reporting company files to become non-reporting with the SEC. They must no longer meet certain obligation to be able to file this. But after they file, they are no longer obligated to file financial's, s-8's, 8-k's, or any other filings with the SEC. Now all exchanges require that you file so by filing a form 15-12B they will trade on the pinks. If they are not there anyway. There is a misconception that all pinks don't have to file. That is absolutely false. Pinksheets don't require filings but it you filed to be reporting to the SEC then you must file no matter what exchange you are on. It is just that most exchanges require filings. So the only way to stop filing is to file a form 15 with the SEC. And yes its bad. Because now you will no longer know what the company is up to or if they are making money or printing shares like crazy.
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15-12B: Certification of termination of registration of a class of security under Section 12(g) or notice of suspension of duty to file reports pursuant to Section 13 and 15(d) of the Securities Exchange Act. Section 12 (b) initial filing. A Form 15-12B is filed by companies with a Commission File Number prefixed by 001-.