Good article about the SEC...
Amazes me how backwards the Government works.
I just think of all the fraud that went on with many companies in many industries in the past 25-30 years...high tech...banking...real estate...and not once were those stock halted/suspended.
Today, I look at a company like Facebook, spending $16 Billion for a company that had nowhere near a $16 Billion valuation...the federal government allows that deal to go through...no questions asked by the SEC, FTC, etc.
Oh, but wait....we have a new industry that is a high growth industry...much like the high tech industry of the 90s. To me, it sounds like the SEC is trying to make sure that they don't make the same mistakes that they did with the high tech industry. Being part of the high tech industry, there were so many scams that came about that always went undetected, only to find out that shareholders were defrauded and went out of business overnight.
Now, Growlife and whatever went on here isn't a good situation at all. We, as investors, should have been notified prior to the stock being suspended. And, the SEC should be more transparent with any case. I understand that the SEC needs to keep things under cover until the investigation is complete, but at least throw us a bone of who the guilty parties are. I guess, in due time, we will find out, but it is the not knowing that is very frustrating, especially, when many of us, have large sums of money tied up in this stock, that will go bye-bye when and if the stock starts trading again.
No reason to speculate at this point. As with most things, I anticipate the worst, and if something better than the worst happens, it doesn't make me as disappointed.
Good luck to all.
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