Anybody know what is going on with this Sept. 5th Well Notice filed by the SEC? I notice in FEED's disclosure that they will not be responding to it. (really?, not even respond?) Anyway, I have some rather obvious concerns:
1) What does the SEC allege?
2) What does the SEC propose to do?
3) If the SEC proposes a fine, won't the Stockholders simply be the ones paying it? (like, how does punishing the Stockholders seem like a fair solution when it was the Officers that caused this whole thing?)
4) Won't this whole exercise just add to the bankruptcy-resolution costs and result in less net equity for the shareholders?
I don't know -- it seems like, at this late stage, that the SEC might go after the Officers, yes, but not after the whole company which is already in BANKRUPTCY!!!
Knowledgeable insights are solicited.