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Sysorex has filed a Form 211 with the Financial Industry Regulatory Authority and has applied to have its common stock authorized for quotation on the OTCQB market of the OTC Markets Group, Inc.
Medley also stated, "We will now interview market makers to assist us in filing our Form 211 with FINRA.
He said he did not use IRS Form 211, part of the tax agency's whistle-blower program which awards informants 15 to 30 percent of the tax collected.
Applications for whistleblower awards are made by submitting IRS Form 211, Application for Reward for Original Information, to the IRS Whistleblower Office.
This includes an outline of the creation of a new "intake" process, issuance of Notice 2008-4, revision of Form 211, Application of Award for Original Information, and creation of a Whistleblower Executive Board.
Under it, whistleblowers could seek a reward of up to 15% by submitting form 211, Application for Reward for Original Information.
(5) The component of the program most familiar to practitioners today is the Form 211 procedure, which is outlined in Revenue Publication 733.
To collect his reward, Krug submitted Form 211, Application for Reward for Original Information.
This will make employees cognizant of the fact that the IRS will learn of any significant, controversial tax item as part of its coordinated audit, and thus these issues may not lead to an award to the individual who raises those issues on a Form 211, preempting such whistleblowing activity.
Broker-dealers that intend to act as market-makers in our shares should file the requisite form 211 with FINRA at this time, if they have not already done so.
In all cases, the informant is required to submit Form 211, Application for Award for Original Information.
However, due to our inability to file our 10Q in a timely manner, the company is now reporting on the pink sheets under the symbol 'TEWI.' At this time, we are exploring our options to re-file a Form 211 and thereby regain our status on the OTCBB.