Bayport International Holdings Inc. (BAYP)

[DragonBear]

OTC is cracking down on serial r/s-ers

As BL points out the OTC Market Group has no regulatory authority. If a pinky like BAYP, they can submit whatever bogus report they wish to the OTC Market Group site. Being non-registered the SEC does not review trash reports submitted to the OTC Market Group.

The only purpose for the existence of the OTC Market Group site per Microcrap stocks like BAYP is to serve as a central depository site for the bogus reports, and PRs. Of course the OTC Market Group wants money for this service. When the OTC Market Group receives their fee, and a bogus report, then they mark the Pinky as being up to date. If the Microcrap stock is late in paying their fees, then the OTC Market Group starts putting up the Yield or Stop signs. Makes it harder for a scammer to conduct a P&D, without a central depository site. In fact the OTC Market Group attempts to intimidate the scammers into paying with the dreaded Stop sign. Claiming insiders selling with a lack of information could get em busted by the SEC. The SEC could care less.

No, the OTC Market Group doesn't care what's in the reports. At one time it was rumored they would review the A/S, and O/S, then contact the TA to validate. It's a nonsense rumor. The OTC MG will take whatever numbers are in the bogus report, and then update the profile page with them. BAYP is a prime example.