Suspending Reporting Obligations

Once your company registers a class of securities under the Exchange Act and begins reporting, it will be required to continue reporting unless it satisfies one of the following "thresholds," in which case its filing obligations are suspended:

• your company has fewer than 300 shareholders of record of the class of securities offered (1,200 shareholders of record if your company is a bank, bank holding company or savings and loan holding company) or
• your company has fewer than 500 shareholders of record of the class of securities offered and less than $10 million in total assets for each of its last three fiscal years