regarding "letters of no action":
What HOT is referencing is KMAG. Where some posters are claiming the CEO has Emailed them various claims, including they have already received a no-action letter, thus the investigation has been concluded, a MM has been found, and a 211 is pending. The idea it was a mistake, and purely the fault of the SEC.
A red flag which should pop up is if true those items are material events for the stock. As such a CEO sending Email to a few select investors is in violation of the "fair disclosure" regulation. One has to call into question exactly what was or was not said in the Emails. Maybe the CEO is really that stupid as to violate another regulation, while under investigation. The other possibility is the Email were more vanilla than reported. What is known is that there are no PRs stating these claims. There follows rationalization as to why the delay for the PR releases. What company would not rush to get out a PR claiming they had been exonerated? Nothing to prevent it - if it's the truth.
The stock in question appears to be the typical post-suspended Grey stock. There was massive stock issuance activity, followed by a big pump PR in June, a huge run in Aug with increased volume, then came the suspension in Sep. The SEC always seems to wait for the final pump run before suspending. Unfortunate for the investors who got sucked in.
AI
