Having the SEC execute a halt on PPJE would only harm all of the shareholders as post-halt the ticker is forced to Gray Market never to return even to OTC Pink. In the Gray Market, trading volume goes basically to zero which means that either you sell your shares for close to nothing, or you cannot sell them at all... ever.
Although Chandana Basu is also a shareholder, in the event of such a SEC action, to protect her own interests, she would simply start a new corporation with a new ticker using the same assets that the existing company currently has. The very best outcome that current PPJE shareholders could hope for is that Basu would grant current PPJE shareholders some shares in the new corporation. However, that would be highly unusual. In most cases of a SEC halt, the shareholder positions are completely wiped out.
In order for the SEC to take such an extreme measure, there would have to be evidence of something illegal or unethical. Presumably, Basu feels that she has evidence from her contacts with grifter_24 to back up the claims in this morning's PR, or else the PR would not have been issued. Unfortunately, misunderstandings can easily occur via e-mail when robust usage of the English language is not practiced. Because voice tones and body language and facial expressions that we all use so much to accurately understand someone's intent are absent in text, misunderstandings with regard to intent of the sender are common. The natural tendency is to interpret someone's e-mail communication in the worst possible way even if that was not truly the intent of the sender. To cover herself against even the appearance of any insider hanky-panky, Basu likely felt there was no choice but to go public with a PR.
This morning's PR was crude in its form, and pretty tacky from any viewpoint, but it does cover Basu's tail against the very real potential that the SEC would take adverse action against PPJ if there continued to be any potential of the appearance that anything improper might be occurring between the corporate officers of PPJ (of which there is only one, Chandana Basu) and one or more of PPJ's shareholders. By going public with the PR, she is making it clear that she has no intent to hide anything that might later be misconstrued as improper.
grifter_24 has been very helpful in locating useful information about PPJ, so I regret that this event has occurred. I doubt that he intended anything harmful or malicious. However, I also understand where Basu must guard against the appearance of wrongdoing. It is an unfortunate situation. I hope this does not ultimately effect PPJ in an adverse manner.
AI
