In addition, though I have not ever read one, the Form 10 is supposed to require a tremendous amount of financial detailed data ... data which will require a fair amount of management time to compile and format properly.
John:
TSIS operations are not that complex, and IMO reporting requirements are not as onerous as you may believe. The process does take time, and the committed efforts of the CFO. If the form is executed fully and completely the first time, follow-on is just minor clarification. Thousands of sample filing exist as templates.
One reason companies delay is filing requires a new level of opening the Corporate "soul". Business risks and competitive pressures must be dilineated, officers salaries and other compensation disclosed, material shareholders identified, and a certain autonomy lost.
I understand the company currently appears quite open and upfront, and this would facilitate the process. But all is great today, and good PR needs to be heard. The question to many longer term holders than I is has the company always been so communicative and open, especially during "not so good times", the reverse split and other such events leading there?
jmt
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