I think you'd be jumping the gun making an assumption of the level of competence of management if the SEC does indeed respond with additional comments. However, per the SEC, they will be posting all comments that were made at some point not too long after the effective statement notice is given. Once you have reviewed that information, then you'll be in a more appropriate position to make such a call.
Without additional information though, I don't necessarily think it shows anything regarding their level of competence when and if the SEC comes back with additional comments. For starters, these comments often request additional information or request that the company go back and amend older, previously filed financial statements. It is totally understandable that, depending on the information being requested by the SEC, that additional questions may arise based on this new information. It isn't as simple as giving the SEC what it wants and that's that.
I could see a failure to provide what the SEC has requested as a potential issue of competence. However, if the requested information contains additional information that the SEC has further questions on then their going to have additional questions and comments and there is really no way to predict that from occurring. Based on that, I wouldn't be so quick to question MCIG should this not be last S1.
Even stronger of a point though is that MCIG is in at least 2 unique sectors, both of which have quite a bit of controversy surrounding them, including one sector that is primarily dealing with something that is illegal under both Federal Law as well as the majority of state law. Then you have all these new restrictions regarding e-cigs, and then there's the whole question of whether vitacig even falls under this classification or not. With all that up in the air, of course the SEC is going to apply a significant amount of additional pressure and scrutiny on this requested listing as compared to the average listing in a much less controversial sector. Isn't this obvious to people? You've got all these other publicly traded companies in the marijuana sector not only being scrutinized closely by the SEC but some of them being halted altogether, yet you don't think it's reasonable to assume that MCIG's S1 is going to potentially take a little longer to go through than normal?
I don't mind objective criticism and free thinking when it comes to discussions like these, but I'm finding that the majority of the negative statements being made against MCIG are extremely weak and unsupported by any evidence, not to mention even common sense a lot of the time. If you're going to question the company on its actions, at least think about all the variables and considerations at work first as I've found that many of these things are being overlooked, and unfortunately other investors don't know any better, so this gets everyone's doubts in an uproar when in all reality, there's nothing going on (other than these same investors getting scared and selling off because they think that a successful company that's about to report record earnings is somehow going to go bankrupt at the same time.
