Obviously...Elio has been delinquent with regards to filing their required SEC reports...
I’ve been doing some homework with regards to the consequences...
Here’s what I found...
Most reporting companies submit their periodic reports in a timely manner. However, some reporting companies fail to submit periodic reports, file materially deficient periodic reports, or do not submit the reports in a timely manner. The timely and complete submission of periodic reports provides investors with information to help them make informed investment decisions.
The SEC's Divisions of Enforcement and Corporation Finance jointly established the Delinquent Filings Program in 2004 to encourage reporting companies that are delinquent in filing their periodic reports to submit their periodic reports or rectify deficient periodic reports.
The SEC's Delinquent Filings Group in its Division of Enforcement conducts investigations into possible violations of the federal securities laws' periodic reporting obligations, and prosecutes administrative proceedings against these companies when appropriate.
The Division of Corporation Finance identifies reporting companies that are delinquent filers and usually provides them with notice of their failure to submit periodic reports.
If a reporting company identified as a delinquent filer fails to submit its periodic reports, the SEC may revoke the registration of the reporting company.
I’ve been doing some homework with regards to the consequences...
Here’s what I found...
Most reporting companies submit their periodic reports in a timely manner. However, some reporting companies fail to submit periodic reports, file materially deficient periodic reports, or do not submit the reports in a timely manner. The timely and complete submission of periodic reports provides investors with information to help them make informed investment decisions.
The SEC's Divisions of Enforcement and Corporation Finance jointly established the Delinquent Filings Program in 2004 to encourage reporting companies that are delinquent in filing their periodic reports to submit their periodic reports or rectify deficient periodic reports.
The SEC's Delinquent Filings Group in its Division of Enforcement conducts investigations into possible violations of the federal securities laws' periodic reporting obligations, and prosecutes administrative proceedings against these companies when appropriate.
The Division of Corporation Finance identifies reporting companies that are delinquent filers and usually provides them with notice of their failure to submit periodic reports.
If a reporting company identified as a delinquent filer fails to submit its periodic reports, the SEC may revoke the registration of the reporting company.