"How can saving Hundreds of THOUSANDS of Dollars a year be bad?"
First of all, hundreds of thousands of dollars a year is a gross exaggeration, and even the incremental cost of not going dark assumes that a company doesn't have to audit its accounts if it chooses to be a non-SEC filer.
But that's not true, of course - any decently run business, whether SEC reporting or not, should produce accurate quarterly accounts and audited annual accounts - they owe the shareholders nothing less, and indeed no sensible person would invest in a company that did anything less.
The incremental cost of filing is actually quite low if those basic accounts are already prepared.
But the real reason that going dark is very very bad indeed for retail investors is, of course, exactly the real reason that the crooks behind such scams choose to go dark:
So they can rape and pillage those same retail shareholders behind a cloak of darkness and secrecy, while penny stock pimp groups (like that headed by notorious Pink Sheet penny stock promoter Hans Brost of PTOI infamy) generate volume for their paymasters to dump their free stock into.
Make no mistake, dark penny stocks are simply a means to conduct criminal activity and should be delisted, suspended and revoked by definition.
"It is difficult to get a man to understand something, when his salary depends upon his not understanding it."
Upton Sinclair
"Nobody ever went broke underestimating the intelligence of the American public."
H. L. Mencken
