PLNI - Plasticon International, Inc. (Bulls Board) Message Board

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Technology Stocks : PLNI - Plasticon International, Inc. (Bulls Board)

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From: rrm_bcnu	8/29/2006 5:27:24 AM
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The way I read Section 12(g) is that the company is required to register issued stock once it reports the attainment of the below criteria. Prior to that they may have claimed an exemption. I don't know that for sure, but they haven't filed registration statements for the stock they issued and thus may have been exempt until the criteria for exemption was met or exceeded. That may mean that they are heavily involved in generating Forms 4 and SB-1 in support of the 10KSB and SEMCO 8K. 2005 may be the first year the criteria of section 12(g) has been met that I can locate. How many shareholders did they have in 2003? In any event, they apparently do meet the criteria of Section 12.g.1.A. now, and may need to submit SB-1's or other forms to satisfy the SEC requirement for uplisting. What is your opinion of that possibility for the delay since the 14th? rrm Section 12 -- Registration Requirements for Securities g. Registration of securities by issuer; exemptions 1. Every issuer which is engaged in interstate commerce, or in a business affecting interstate commerce, or whose securities are traded by use of the mails or any means or instrumentality of interstate commerce shall-- A. within one hundred and twenty days after the last day of its first fiscal year ended after July 1, 1964, on which the issuer has total assets exceeding $1,000,000 and a class of equity security (other than an exempted security) held of record by seven hundred and fifty or more persons; and B. within one hundred and twenty days after the last day of its first fiscal year ended after two years from July 1, 1964, on which the issuer has total assets exceeding $1,000,000 and a class of equity security (other than an exempted security) held of record by five hundred or more but less than seven hundred and fifty persons, register such security by filing with the Commission a registration statement (and such copies thereof as the Commission may require) with respect to such security containing such information and documents as the Commission may specify comparable to that which is required in an application to register a security pursuant to subsection (b) of this section. Each such registration statement shall become effective sixty days after filing with the Commission or within such shorter period as the Commission may direct. Until such registration statement becomes effective it shall not be deemed filed for the purposes of section 18. Any issuer may register any class of equity security not required to be registered by filing a registration statement pursuant to the provisions of this paragraph. The Commission is authorized to extend the date upon which any issuer or class of issuers is required to register a security pursuant to the provisions of this paragraph. law.uc.edu sec.gov

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