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It was me its stated in the financials but its listed in the fins several times in different ways in the fins all using the same date
The lawsuit is just something that I know will be blasted in the faces of shareholders as when any ticker has a move to grey or some sort of infraction the "ambulance chasing " attorneys hit the wires with looking for members in a class action. It would be easy and have merit if the company tried to hit and run. I think dilution would be a serious issue but not sure how easy it would be to issue prefered shares if this moves greys. I do respect your opinion and also head warnings. How crazy would it be if the sec just was looking for clarity on comments directly and waiting for the summary judgment to be issued to allow the company to proceed to trial before allowing trading to commence?
I'm legitimately asking what avenues would take places to restrict the commons from receiving anything not a moot point just asking now?
It wouldn't be lawsuit on the pump it would be a lawsuit on the portion of liquid assets the shareholders are entitled to and that would also come with a hefty attorney stiffen. Shareholders would be due a stake in the assets of the company regardless of how the company went dark or tried to go private. Most otc lawsuits go nowhere because the company has nothing before and after a pump
I dont see it happening easily most of the otc tickers have nothing so when they leave its worthless to attempt to recoup anything this would have class action attorneys jumping head over heels to try the case if that were to happen
If a asset strip would take place after judgment dividends would be distributed to the owners and shareholders after all the debts are paid correct? Not sure how this equates to the ticker being worthless or how management would even attempt to ride into the night without paying dividends.
https://www.investopedia.com/terms/a/assetstripping.asp
Breaking Down 'Asset Stripping'
Asset stripping is an action often engaged in by corporate raiders, whose method is to buy undervalued companies and extract value out of them. This practice was especially popular in the 1970s and 1980s, and can still be seen in some of the investment activity by private equity firms today.
Asset stripping today has been aided by the historically low interest rates of the past several years. Private equity firms will acquire a company, sell off its most liquid assets, and raid its cash coffers to pay dividends to itself and shareholders. Such activity may involve taking a company private. The private equity investor will when recapitalize the company with additional debt, which gives the practice its euphemistic name "recapitalization," which is a rebranding of the stigmatized asset stripping practice. Such a practice saw significant growth in 2017.
Read more: Asset Stripping https://www.investopedia.com/terms/a/assetstripping.asp#ixzz5SSCMhFiD ;
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If you call it playing catalyst pump and dump then the entire stock market is that. Its betting on forward looking statements
I just dont see fraud at all the court case is real that's what people were betting on the fins sucked and toxic debt notes are to the very same people they are in court with. Liabilities and debt with no revenue or even possibility to generate revenue to at least a year out. Only thing people invested into was the case and hopeful settlement.
Also would like to add that the short volume on trading days with the size of the ss would be nearly impossible to achieve. I think this is what the ceo was attempting to construe to the public with his Twitter blast on a ss with a tradable float of 130k the short volume
Is almost unthinkable with numbers posted on finra short volume .
19th first day of run
89799k shares traded short volume 54151k or 60 percent
Next day crash and rebound of court delay news
26567k short volume shares traded 96717k or 27.47 percent short
Third day huge run
13704 short volume shares traded 41292k or 33.19 percent short
Fourth day next huge leg up and crushed down
10059k short volume shares traded 25548k or 39.37 percent shorted
Last day of trading
11248k short volume shares traded 25902k or 43.43 percent short.
It's not a court hearing I have been saying that will stop it opening on the grey market. I have stated several times the required info to file form 211 and comply with 15c is all publicly available information. The only reason. Why any of it has came into question is the company put out a unaudited k instead of a audited one. The information in the k stated 0 revenue and toxic notes and a court case and also in bold letters it was unaudited. Not like they were scamming investors with bolstered bottom lines. I believe I saw somewhere they didn't want the fin audited because the pending litigation and not wanting the other party to use financial status of the company against them to drag out litigation. The manipulation portion of the sec suspension was stated by the ceo and clearly a short volume of a stock in the 40 percent range when the short allowance I have read somewhere also is only allowed at 10 percent seems like a manipulation was taking place. In my opinion the ceo mentioned short sellers and a trading position on Twitter could be misconstrued as them themselves telling people how to invest and be illegal but the massive short positions on the days of trading seems highly suspect of outside interferance. If the k becomes audited then the filings would be 100 percent correct and the only issue would be company and ceo telling people to not let shorts take your shares during the manipulation I believe he stated . With all of this said a form 211 should be easily refilled and the company opens back up yo trading after the 10 day suspension. While I have played and seen stocks that have went suspension this one in my opinion seems to be a differnt situation all together.
It's because of a unaudited k form at best this puts them at yeild or stop sign until form k is audited by external accounting firm
Correct
Yourself and others have claimed for days it would open grey in a few days. Also thank you for citing the exact same info I know of already and have shown that a company who was up to date on all filings besides having a audited k but supplied a un audited form k all of the requested and required is publicaly available and easy to source for any brokerage willing to cover the ticker. Also as I believe someone also posted here they called the brokaerage just as the sec recommends and have stated that the ticker will open for trading back on the 10th
It doesnt move to grey sheets until suspension is over why do you think that a full trading suspension is circumvented. And it wont move to grey sheets unless form 211 isnt filed on behalf of the brokerage for the company
See the catch 22 here is from other dd that was shared by the company mentioning the discovery process and how the opposing counsel wanted SECI not to be able to have a discovery. I think this wins this October 5th pre trial hearing for a multitude of the claims they have arouse. With that win it places the opposition in a tough place backed into a wall to negotiate settlement or surely lose during trial for everything. Imo I have came to this line of events because of one document provided by the company.
Summarized the legal document provided here
https://www.whitecollarfacades.com/timeline
"A summary judgment is a harsh remedy and should never be given if at trail a party might be able to produce evidence which would reasonably sustain a judgment in his favor"
Seems like the company intends to proceed with long over due plans of operation after litigation is over. I dont think the ceo intends to use anyone as a stepping stone.
This is directly from the latest filings
Working capital -
As of this filing date, the Company is in the midst of litigation and in the process of restructuring its operations in order to raise capital and continue in its efforts to manufacture and distribute its products. The restructuring will not be complete until the litigation has been completed. Potential funding for operations is not expected until sometime in the fiscal year ended March 31, 2019 or beyond.
Yup these two fellas are no joke and with the mountain of evidence already on hand and the discovery evidence looming SECI is on solid footing to win at trail or accept a out of court settlement in our favor.
The lawyers that seci is using seem like the real deal these guys went up against Nintendo for a inventor that said they infringed on his patent. I dont think these guys are just your normal run of the mill legal team.
YCOCK, ROBERT E
PIA, JOSEPH G
Even if the form 211 isnt filed and trades Greys. If a favorable court judgement comes out shareholders are still privy to company assests if company is to dissolve.
What Delisting Means for Shareholders Ownership of stock in a company doesn't change just because the company has been delisted. You still own those shares (sorry, even if you don't want to) and have the same equitable claims to a portion of the company's assets in the event that it were to dissolve. You will also retain the right to vote your shares at the annual shareholders' meeting. (May I suggest taking a good look at that proxy statement next year.)
Source
https://www-thestreet-com.cdn.ampproject.org/v/s/www.thestreet.com/amp/story/10358340/1/what-happens-when-my-stock-is-delisted.html?amp_js_v=a2&_gsa=1&usqp=mq331AQECAFYAQ%3D%3D#referrer=https%3A%2F%2Fwww.google.com&_tf=From%20%251%24s&share=https%3A%2F%2Fwww.thestreet.com%2Fstory%2F10358340%2F1%2Fwhat-happens-when-my-stock-is-delisted.html
Makes sense honestly forcing call in orders that delay price action and allow MMS to cross trade down a ticker is market manipulation at its finest all the while trying to cover the short they placed. Who did you call into find out this info if I may ask?
It clearly said yeild sign on otc markets and in the financial report it stated it was un audited in bold letters.
Not fraud fraud is intentionally cooking the books to bolster bottom line and dupe investors and as you can clearly see that didn't take place in the fins reported
Or it's a unaudited k filed
Wrong
The most common reason for a suspension is the lack of current or accurate financial information. In many cases, companies can resolve the issue by submitting the required financial statements to go back into compliance
Read more: Suspended Trading https://www.investopedia.com/terms/s/suspended_trading.asp#ixzz5SGpikdya ;
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Semantics and parsing words
The ten days is set fourth to allow the company to set into motion and correct any issues that are deemed necessary to allow for acceptance form 211 to be successfully accepted. So once again the stock doesnt move prematurely thru to grey sheets without the ten day allowance for the company to correct any discrepancies.
Once again wrong
Please refer back to the trading suspension pamphlet provided by the sec for trading suspensions please
Why would the SEC suspend trading in
a stock?
The SEC may suspend trading in a stock when the
Commission is of the opinion that a suspension is
required to protect investors and the public interest.
Circumstances that might lead the Commission to
suspend trading include:
• A lack of current, accurate, or adequate
information about the company, for example,
when a company is not current in its filings of
periodic reports;
• Questions about the accuracy of publicly
available information, including in company press
Why would the SEC suspend trading in
a stock?
The SEC may suspend trading in a stock when the
Commission is of the opinion that a suspension is
required to protect investors and the public interest.
Circumstances that might lead the Commission to
suspend trading include:
• A lack of current, accurate, or adequate
information about the company, for example,
when a company is not current in its filings of
periodic reports;
• Questions about the accuracy of publicly
available information, including in company press
Did you even read the suspension notice it says nowhere fraud.
It appears to the Securities and Exchange Commission that there is a lack of current and
accurate information concerning the securities of Sector 10, Inc. (CIK No. 0000925661) because
of questions regarding the accuracy and adequacy of publicly available information in the
marketplace made by Sector 10, Inc. on social media regarding pending litigation, and potential
market manipulation in Sector 10, Inc.’s common stock. Sector 10, Inc. is a Delaware
corporation whose current principal place of business is in Bluffdale, Utah. Its stock is quoted
on OTC Link, operated by OTC Markets Group, Inc., under the ticker symbol SECI.
I'm fairly certain the suspension is for ten days before any trading can commence the date is set it shouldnt move prematurely to any grey sheet without the following procedures for form 211 and compliance with 15c2-11.
Here is another informative dive into requirements
https://speedtrader.com/introduction-trade-halts-suspensions-de-listing/
For stocks that trade on the Over-The-Counter (OTC) market, which include bulletin board and pink sheet stocks, trading will only resume after FINRA approves a Form 211. Broker-dealers are the gatekeepers that decide if the company financials are accurate and current. If there is a continuing investigation, then a Form 211 may not receive approval.
And this goes back to required info requested and maintained as filed and filled out on form 211 which contains the prerequisites to rule 15c2-11
Unless an exception to Rule 15c2-11 is available, the rule can be satisfied in one of only five ways: (1) the broker/dealer must have in its possession a prospectus specified by Section 10(a) of the Securities Act of 1933 (Securities Act) that has been filed with the Commission and which has been in effect less than 90 calendar days; or (2) the broker/dealer must have a copy of the offering circular provided for under Regulation A of the Securities Act and the effective date must be within the preceding 40 days; or (3) the issuer must be current in its filings with the Commission and the broker/dealer must have in its possession the issuer's latest Form 10-K and all subsequent Form 10-Qs and Form 8-Ks; or (4) the issuer must be exempt from Section 12(g) of the Securities Exchange Act of 1934 (Exchange Act) pursuant to Rule 12g3-2(b) and the broker/dealer must have in its possession all the information furnished to the Commission during the issuer's last fiscal year; or (5) the broker/dealer must have in its possession 16 items of information about the issuer, including financial information which shall be reasonably current in relation to the day the quotation is submitted.
Nothing happens without procedure.
Unless an exception to Rule 15c2-11 is available, the rule can be satisfied in one of only five ways: (1) the broker/dealer must have in its possession a prospectus specified by Section 10(a) of the Securities Act of 1933 (Securities Act) that has been filed with the Commission and which has been in effect less than 90 calendar days; or (2) the broker/dealer must have a copy of the offering circular provided for under Regulation A of the Securities Act and the effective date must be within the preceding 40 days; or (3) the issuer must be current in its filings with the Commission and the broker/dealer must have in its possession the issuer's latest Form 10-K and all subsequent Form 10-Qs and Form 8-Ks; or (4) the issuer must be exempt from Section 12(g) of the Securities Exchange Act of 1934 (Exchange Act) pursuant to Rule 12g3-2(b) and the broker/dealer must have in its possession all the information furnished to the Commission during the issuer's last fiscal year; or (5) the broker/dealer must have in its possession 16 items of information about the issuer, including financial information which shall be reasonably current in relation to the day the quotation is submitted.
things dont just move to greys themselves without procedure first followed.
here is a link to the need to knows for the trading suspension guidelines set fourth by the sec themselves.
https://www.sec.gov/investor/alerts/tradingsuspensions.pdf
i see a lot of people with a very doomsday view on this whole process while trading suspensions are bad this could go two ways the first is the doomsday alley everyone is orchestrating. the second is the company trades again after 10 days those are the facts. it doesn't automatically go to greys it doesn't automatically trade again. as many have posted a form 211 is required to be filed unless a company meets certain restrictions as per guidelines on the finra website. now where this differs from what many have posted is the ease in which the form 211 is to file well guess what it looks fairly simple for any company who is up to date on filings and no company wrong doing is seen. here is a link directly to the form 211 people claim to be impossible to overcome
https://www.finra.org/sites/default/files/AppSupportDoc/p126234.pdf
i would think that any company filing regular reports this process would be a breeze. Now the next question is will it trade once again well finra has stated on the trading suspension faq that if any question arises as to whether the broker will quote the stock again a simple phone call to the broker will suppl you with the answer as it boils down to choice. Also I saw some silver lining to this whole situation myself as i noticed on form 211 the broker places a initial bid and ask for the security this means after the court case the broker would set the bid and ask to open at market again. this would pretty much crush any attempt to cover shorts if it opened huge with a favorable verdict in favor of the company. The only thing we can do now is sit back and wait on our hands its not grey sheets yet and all is not lost. all of this of course is IMO with information derived from the finra website regarding trading suspensions.
What I expect is taking place is people are selling into losses to try and chase into profits on other random calls right now. With that being said its smart money to load as many as possible. While the court date approaches closer and closer all of the same hands that jumped ship to chase will be back to chase here again. The third run on this ticker if smart money continues to load will be the float locker and new highs will be had. Lock and load when they approach to chase again premiums will be paid for tickets to the show. All imo of course
It's just otc sentiment buy and sell quick attention span of goldfish
Found it so it's a between two areas one legally only recognized by Turkey and the other governed by the un
https://yusufkisa.net/who-is-yusuf-kisa/
I think they are actually in Cyprus a area that isnt exactly Turkey. I remember reading in yusuf kisa bio that he wanted his company there because he grew up in the area. The problem is that it isnt exactly governed by Turkey but in some no treaty agreement area. I'll have to look and see if I can find the article on it again
The issue in India really is sour grapes. It's sad to say that so many Indian companies are put in place to scam American investors and nothing is done Alibaba is full of such instances. I see this being a long drawn out fight and during that time the company has no buisness operations in India as they have been taken over and turned into a different company. The ss is optimum size for a run still.
Gl to all
Imo
Suspect I tell ya suspect.
Lol we need to redo the voice conformation for your order now sir
Yeah my first buy was online before the initial run. Then trying to buy in the dip I got three error messages and missed the bottom got on the horn and picked up at about 11 so i lost a few dollar spread just picking up the phone. It is highly suspect that when it moves quick they would require the phone call but with trading today it would have been the perfect time to phone in those orders. Also slightly annoying trying to watch lvl 2 and talk to some Yahoo desk broker about your order the guy on the line questioning your judgement