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Seems the SEC and any other authority could

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bearspread   Friday, 08/25/17 05:36:45 PM
Re: rs99 post# 107814
Post # of 107843 
Seems the SEC and any other authority could give 2 shitttss about these scam companies.

That's because Pinks are unregistered, with no requirement to file audited financials.

In 99% of the suspensions it's because the insiders performed an illegal dump, or Rule 144 violation which FINRA detected. Outside of that they can issue any PR they wish that has plausible deniability. Issue a PR about receiving $16M(?) in Leroy Bucks. Then don't bother to mention them again. If ever questioned - well the agreement fell apart. Leroy nods his head in the background. There's no such thing as an 8K for a pinky, where they are obligated to tell SHs a deal fell apart. Hell, for that matter I saw a filer that made material event announcements in PRs, was delinquent for a year, never filing 8Ks, before the SEC suspended them.

Couple of days ago, some pink scam got into trouble making claims the SEC couldn't ignore. But that's the exception to the rule.

The only way to clean up the mess would be to mandate all OTC Microcraps must register as filers. Also if they are delinquent for 3 months, stock trading is suspended permanently until they come up to date. But we can't have big bad gubbermint interfering with the life blood of the US economy - Microcrap scams... oops meant "small business".

In the meantime Porter is safe as long as he doesn't perform an illegal dump. As long as some dreamers responding to a 3rd party Email alert/hot tip, comes in and buys shares in this scam.

The Jewel of the Mind is Colored with the Hue of what it Imagines
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