General Rules and Regulations
Securities Exchange Act of 1934
Rule 14c-3 -- Annual Report to Be Furnished Security Holders
If the information statement relates to an annual
(or special meeting in lieu of the annual) meeting, or written consent in lieu
of such meeting, of security holders at which directors of the registrant, other
than an investment company registered under the Investment Company Act of 1940,
are to be elected, it shall be accompanied or preceded by an annual report to
The annual report to security holders shall contain the information specified in paragraphs (b)(1) through (b)(11) of Rule 240.14a-3.
Note to Small Business Issuers: In responding to the disclosure items under
paragraph (b) of Rule 14a-3, a "small business issuer," defined under
Rule 12b-2 of the Exchange Act , shall refer to the
disclosure items in Regulation S-B rather than Regulation S-K. If there is no
comparable disclosure item in Regulation S-B, a small business issuer need not
provide the information requested. A small business issuer shall provide the information
in Item 310(a) of Regulation S-B in lieu
of the financial information required by Rule 14a-3(b)(1). Small business issuers
using the transitional small business issuers disclosure format in the filing
of their most recent annual report on Form
10-KSB need not provide the information required by paragraph (b) of Rule
14a-3. Rather, those small business issuers shall provide only the financial statements
required to be filed in their most recent Form 10-KSB. The inclusion of additional
information, including information required of non-transitional small business
issuers, in the annual report to security holders will not cause the issuer to
be ineligible for the transitional disclosure forms.
Seven copies of the report sent to security holders
pursuant to this rule shall be mailed to the Commission, solely for its information,
not later than the date on which such report is first sent or given to security
holders or the date on which preliminary copies, or definitive copies, if
preliminary filing was not required, of the information statement are filed
with the Commission pursuant to Rule 14c-5, whichever
date is later. The report is not deemed to be "filed" with the Commission
or subject to this regulation otherwise than as provided in this rule, or
to the liabilities of Section 18 of the
Act, except to the extent that the registrant specifically requests that it
be treated as a part of the information statement or incorporates it in the
information statement or other filed report by reference.
A registrant will be considered to have delivered a Notice of Internet Availability of Proxy Materials, annual report to security holders or information statement to security holders of record who share an address if the requirements set forth in Rule 240.14a-3(e)(1) are satisfied with respect to the Notice of Internet Availability of Proxy Materials, annual report to security holders or information statement, as applicable.
A registrant may furnish an annual report to security holders pursuant to paragraph (a) of this section by satisfying the requirements set forth in Rule 240.14a-16. This paragraph (d) provides a non-exclusive alternative by which a registrant may furnish an annual report pursuant to paragraph (a) of this section to a security holder. This paragraph (d) does not affect the availability of any other means by which a registrant may furnish an annual report pursuant to paragraph (a) of this section to a security holder.
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