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OCZ Technology Group AŞ Message Board

  • pipster1234 pipster1234 Oct 11, 2012 4:17 PM Flag

    NT 10-Q just filed, kicking the can down the road...

    time to buy the nov $1 puts $5 per ...

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    • Can I ask a question? Why exactly are you here? I have to assume you're short which is fine. To each his own. But what is it you hope to accomplish by posting here and actively trying to make people feel bad? Do you get off on the suffering of others? Do you actually realize that there are many people who have lost a lot of money on this?

      I don't know. Perhaps you have some great and noble reason but to me, it looks like you lead a fairly sad life if you consider this enjoyment.

      Sentiment: Hold

    • I was just getting ready to type that. Yes so it 15 days plus 5 days of latitude.

      • 3 Replies to hokiestock
      • Actually, OCZ announced that it will file a Form 12b-25, Notification of Late Filing, with the Securities and Exchange Commission early yesterday morning.

        This allows the Company to extend the deadline to file its Form 10-Q for the second quarter of fiscal year 2013 (Q2'13), which ended on August 31, 2012. With this extension, if the Form 10-Q is filed by October 15, 2012, the Form 10-Q will be deemed to be timely filed.

        FYI, here is some additional information.

        What is the benefit of filing the Form 12b-25?

        If the conditions of the Rule are met, filing the Form 12b-25 gives the issuer 15 additional calendar days to file a late annual report and five additional calendar days to file a late quarterly report. Moreover, if the report (or the incomplete portion) is actually filed within the 15-day or five-day grace period, the report is deemed to have been timely filed.

        Can the original extension be renewed by a second filing?

        No. Issuers receive only one automatic extension per filing. In the absence of extraordinary circumstances, as determined in the sole discretion of the SEC’s staff, no further extensions are available.

        What happens if the issuer fails to file the report by the extended deadline?

        The obligation to file annual and quarterly reports originates in Section 13 or 15(d) of the Exchange Act, and the rules promulgated thereunder (see Rule 13a-1 and Rule 13a-13). The SEC has the power to enforce its rules by instituting enforcement actions against a delinquent issuer and/or its officers and directors seeking monetary or other penalties, including revoking the issuer’s registration pursuant to Section 12(j) of the Exchange Act.[2] In the absence of egregious and/or repeated violations, or inferences of fraud, however, the SEC is more likely to rely on the stock exchange(s) to police listed companies. Section 1002(d) of the NYSE Amex's Company Guide, for example, permits the exchange to suspend trading or delist a company’s securities altogether for failure of the company to file its quarterly annual reports. The OTC Bulletin Board has a more specific “three-strikes” rule, FINRA Rule 6530(e), that prohibits the OTCBB from quoting the securities of any issuer that is delinquent in its reporting obligations three times in a 24-month period.

      • As previously reported, OCZ Technology Group, Inc. (the “Company”) will delay the filing of its Form 10-Q for the quarter ended August 31, 2012. As disclosed in the Company’s Form 8-K filed October 10, 2012 (the “Form 8-K”), following an internal assessment, the Company’s filing delay is principally due to the impact of customer incentive programs which were discovered during the normal close process. The Company requires additional time for compilation and review to insure adequate disclosure of certain information. The Company continues to work diligently to complete the accounting review. However, the Company cannot currently estimate the exact filing date of the Form 10-Q for the quarter ended August 31, 2012.

        They dont have date so they continue to use Credit and buying time either for buyout or Financing.

      • yep that why you saw so many $1 puts put in today for nov, they didn't even give a estimate of what day they file. that is bad news.

        " The Company's financial statements are still under review. As a result, the Company is not in a position to make any statement with respect to revenue for the quarter ended August 31, 2012 in comparison to the prior year fiscal quarter. The Company expects to report negative gross margins and a significant net loss for the quarter ended August 31, 2012."

        to say we have no clue about revenue but then go on to say it all be negative is bad, very bad. i bet you see a filing from the bank soon enough maybe even SEC? bottom of the barrel here we come!