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Microcap & Penny Stocks : ECNC (OTC:BB) - eConnect -- Ignore unavailable to you. Want to Upgrade?

To: Bear Down who wrote (6059)	3/11/2000 10:22:00 AM
From: Mrs. Hoghead	Read Replies (2) \| Respond to of 18222

Hello, lots of corporations are in default or have "lapsed" What is the reinstatement period in Nevada? Here it Washington I believe it is 5 years (I could be wrong on that time period so don't pounce). "Default" in Washington simply means that the corporation did not file their annual report (more importantly, did not pay the nominal fee) and they are given the reinstatement period to pay a late fee and file the one page report which basically contains their name, address, officers and directors--that's it. A no-brainer and NEVER a big deal. Try piercing the corporate veil on a "defaulted" corporation. You'll see how easy it is for them to simply reinstate. Now, "dissolution" simply means that the corporation took proactive steps to, in other words, "close" their corporation, distribute assets legally, get an IRS clearance certificate, I repeat, PROACTIVELY terminate the corporation in a legal and approved manner. Now, some corporations choose to simly let their corporate status lapse where there are no significant assets to distribute because dissolution can be a pain in the neck and requires a heck of a lot more paperwork. Next please.