It’s not essential as a public trading company to be current information to have a flourishing company.
While It is required to be in good standing with their domicile state, and to have the right corporate liability insurance while doing business.
Reinstatement is offered as a debt Relief and/or sometimes as a workout Plan depending on the level of debt to resolve.
The goal in either case is to remove being in limited or no information or having a stop sign status.
To also stop accumulating Transfer Agency monthly fees as debt (not able to issue stock), legal fee unpaid, accounting fees, plus registration fees that are required to post required corporate disclosure reports and financial statements, the debt starts to accumulate, just isn’t the best business practice.
What is Reinstatement?
Reinstatement has three main requirements:
- State Domicile renewal up to Good Standing
- Current Information Status
- Transfer Agent able to provide services (Billing Charges or Prepaid)
The following Table Represents of most common annual expenditures for two groups:
- QB with audited Financial and disclosure Statement post via Edger on SEC (See table)
- Pink Sheets with unaudited Financial and Disclosure Statement on OTC Markets Group (OTCIQ). (see Table)