Tuesday, January 15, 2008

Futaleufu Gold Miner, Geocom Resources, Announced a Temporary Change to Stock Symbol on 10/29/07 – History of SEC Filing Delinquencies Uncovered

Geocom Announces Temporary Change to Its Stock Symbol

[October 29, 2007] Geocom Resources Inc. ("Geocom" or "The Company") (OTCBB: GOCM) would like to inform its shareholders and other interested parties that due to a late filing the Company's symbol has an "E" added to the end of it. Therefore, to find the quote for the Company the symbol lookup will be (OTCBB: GOCME) until the Company has completed its required filings.

The delay in filing is due to a discrepancy between the Company's Chilean subsidiary accounting report and parent company reporting requirements. The Company's accountants are resolving the reporting difference and expect to have synchronized financial reporting methods soon.

Once the requisite filing has been completed, the Company will issue a release informing its shareholders.

For further information please contact Samantha Haynes at 604.805.4653 or via e-mail at ir@geocom-resources.com.

On behalf of the Board of Directors

John E. Hiner
President & CEO

Here is the full article.

PERTINENT ASIDE: As Geocom Resources Inc. has chosen to embroil itself in a public controversy, with the end result being a future gold mining operation in the Futaleufu River Valley, a thorough examination the company’s public records is in order. It should therefore be noted that Geocom Resources Inc. has a history of delinquent financial filings with the Securities & Exchange Commission (SEC). As Geocom (and / or its venture partners) will be responsible for the timely reporting of environmental issues to the Chilean authorities (e.g. CONAMA) this history of tardiness may become relevant at some future date.

Other filing delinquencies occurred on:

Notices of Late Filings of Form 10-Q or 10-QSB -- Form 12b-25


Source: SEC INFO

Notices of Late Filings of Form 10-K or 10-KSB -- Form 12b-25


Source: SEC INFO

What are the possible implications of all of Geocom's late SEC filings and stock symbol annotated the letter “E”?

According to the Securities & Exchange Commission:

"E" Added To Stock Ticker Symbol

When a company that trades on the OTC Bulletin Board (OTCBB) becomes delinquent in its reporting obligations with the SEC (for example, it submits a required filing late or in an incomplete form), the letter “E” will be appended at the end of the company’s stock ticker symbol. After the “E” is added, the company is given 30 calendar days (60 calendar days for most foreign companies and domestic banks), known as the “grace period,” to become current in its reports. If the company files complete required reports during the grace period, the “E” will be removed. If the company fails to correct its deficiency, the company’s stock symbol will be removed from trading on the OTCBB.

In addition, repeated delinquencies by a company in filing complete periodic reports with the SEC or other applicable regulator, or removal of the company’s security from quotation on the OTCBB because of its failure to file required reports within the prescribed period, can result in the security becoming ineligible for quotation on the OTCBB for a one-year period.

Specifically, if an OTCBB-quoted company is delinquent in filing complete required annual and quarterly reports with the applicable regulator three times in the prior two-year period, quotations of a security on the OTCBB will be prohibited until the company has timely filed in complete form all required reports due in a one-year period. * Further, if a security is removed from the OTCBB twice in the prior two-year period, the security is subject to removal from quotation on the OTCBB until the company has timely filed in complete form all required reports due in a one-year period. For more detailed information, please read NASD Rule 6530.

* Note only annual and quarterly filings for periods ending on or after October 1, 2005 will be considered in determining the applicability of Rule 6530(e).

Source: http://www.sec.gov/answers/eadded.htm

See: Geocom Announces Filing of Annual Report on Form 10-KSB for the current resolution.

(Geocom Resources apparently has plans to list on the Toronto Stock Exchange (TSX Venture Exchange).

See: Humboldt Capital Corp. Invests in Geocom Resources to Develop Gold Mines in Patagonia, Chile's Futaleufu River Valley )