The important lesson is to differentiate between SEC Registrant Filers and stocks that have no stock registration(s) and trade on the OTC Markets, a.k.a. Pink Sheets.
The first due diligence is to access EDGAR to research. If the stock isn't listed then it is a stock that does not report to the SEC and could not be Suspended for being delinquent in filing periodic reports to the non-regulatory OTC Markets. Of course, a non-reporting stock can still be Suspended for alleged frauds, but not for Financials delinquencies.
Here is a list of delinquent SEC filers also at risk of an SEC Suspension and imminent revocation. Use the EDGAR link included in the post to see if a stock is an SEC Registrant Filer, and do not buy that stock if it is delinquent more than one year.
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