Message ID: 232644
Posted By: ColonelZen
Posted On: 2005-02-05 15:38:00
Subject: Speculation: delisting soon?

It has been pointed out that failure to file appropriate 10K's in a timely manner can cause NASDAQ to delist. Contrarily it has been pointed out that extensions are pretty much automatic, so SCOX's missing Jan end is not necessarily a problem for them... but if they miss Feb 15 it gets real.

BUT I speculated that the reason for the late 10K may well be that Canopy/NFT has asked for an audit and are challenging past financial statements based upon their claims of malfeasance by Yarro's gang.

If that is the case, it strikes me as possible that the auditors may very well not be prepared to sign off the paperwork by the 15th to file... which means that even if the SEC accepts it provisionally there is a good chance that NASDAQ won't, and will almost immediately review SCOX's standing for NASDAQ listing.

If the auditors find real questions relating to Yarro's dealings in SCOX (gee, that would be a surprise, no?) and refuse to vet the paperwork until that is resolved, IMO there is a good chance that SCOX could become SCOXE as under review by early to mid March and possible total delisting a few months later.

Since I don't really understand auditing and auditors and financespeak, other than some of what I've seen here, this is idle speculation on my part.

What we really hope happens is that Canopy/NFT's claims against Yarro cause the SEC to take some serious interest.

This should be more fun and games for the weekend than arguing with rocks.

-- TWZ

Message ID: 232652
Posted By: walterbyrd
Posted On: 2005-02-05 16:16:00
Subject: Re: Speculation: delisting soon? if so

where do we move, if scox becomes scoxe?


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