The SEC's downloading porn by the terabyte, as per usual.
The SEC section which is suppose to keep the Microcraps under control, might as well download terabytes of porn. Often this forum will say: One just needs to make the SEC aware of a scam.
As a final test case, I gave them DDCC on a silver platter last yr. A filer with the following properties:
1. Issued an incomplete 8K in Jan 2016 claiming they were going to become a gold commodities broker. Who was going to provide a SBLC?
2. They went delinquent in Mar 2016
3. They issued multiple PR pumps of events which would easily qualify as material events. Where's the 8Ks?
4. And why would they bother with a pump unless they intended to dump - illegally while delinquent? That question was posed to JS's FINRA contact on the side.
I sent to 3 different SEC offices/contacts examples of the pumps. The inaccurate information in the pumps. No 8Ks addressing the pumps. The net result was... nuttin. The last pump was 03-Jan-17. Since then they went dark.
The bothersome part isn't that retail got pump screwed for a year. Any retail dreamer falling for a Microcrap scam deserves to get screwed. The bothersome part is even when served up, the SEC doesn't react. Unless it's worth million$$$ in fines, the SEC doesn't care. At best they will delist in it another year. Assuming the Trumpster budget doesn't force the SEC to retire the computer monitoring delinquent time length for the scams.
My conclusion: It's a waste of time to complain to the SEC about Microcrap scams. Time would be better spent talking to a brick wall. If as expected the Trumpster&Congress gut Dodd-Frank, while cutting SEC resources, the SEC will have little time, and resources to pay attention to the Microcraps in the future. The next few years could end up being the golden era of Microcrap scams - anything goes. Waves of scams coming.
The Jewel of the Mind is Colored with the Hue of what it Imagines
