Ned
Here's how GRNO reported the status of the SEC, etc. in their NT 10-Q filed 8/15.
GREEN OASIS ENVIRONMENTAL, INC.
SEC FILE NO. 33-68304
Part III - Narrative
The Registrant's Quarterly Report on Form 10-QSB for the period ended June 30, 1997 could not be filed within the time period prescribed for the filing of such report. On March 18, 1997, the Securities and Exchange Commission (the "Commission" or the "SEC") initiated an informal, nonpublic inquiry with respect to the Registrant to determine whether any violations of the federal securities laws had been committed. On May 8, 1997, the Commission entered a Formal Order of Private Investigation with respect to the Registrant. In addition, as reported in a Current Report on Form 8-K dated May 22, 1997, the Registrant has retained independent outside counsel to investigate concerns noted by the Commission in ordering a temporary suspension of trading in the Registrant's common stock on May 9, 1997, which order expired on May 22, 1997.
The Registrant has cooperated fully with the Commission's investigation, which has distracted it from timely preparation of its Quarterly Report on Form 10-QSB. In addition, counsel retained by the Registrant has not completed its investigation with respect to the matters raised by the Commission in ordering a temporary suspension of trading in the Registrant's common stock, which matters the Registrant expects to address in its Quarterly Report. The Registrant intends to complete preparation of its Quarterly Report on Form 10-QSB, which will include information intended to enable brokers and dealers to satisfy their obligations under SEC Rule 15c2-11, as soon as is reasonably practicable.
+ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + +
The SEC and the company have agreed to have an independent outside counsel investigate the SEC's concerns. The counsel has not completed the investigation. GRNO intends to say something about the results of the investigation in its 10-Q. GRNO has no idea when that may be. (Or what it will have cost.)
As for the shareholders - well there were some who sold between $5.00 & $10.00 - wonder if there were any familiar names among them?
Bill Fuller |
