There is more to reporting to the SEC than reporting what you have bought or what you own.
The SEC also requires that you have both INTERAL and EXTERNAL Auditing conducted, as well as reporting the actual responses and mediations of those auditing issues. The internal financial reporting has to demonstrate fiscal responsibility and actions and controls taken to insure that it is done properly with integrity.
You mentioned Growlife and how they were reporting to the SEC---but what you didn't mention was that through their fraudulent reporting, they were CAUGHT.
That's what is so great about a company having to report versus not reporting. Short of running the company ourselves, we cannot ensure everything is done completely to our liking or even completely legally---but we CAN do our DD and then make a decision based on the information our DD (and our analysis) provides.
If your DD has stated its a bad investment, and mine has stated its a good investment, so be it---in the end, "Caveat Emptor".