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Alias Born | 02/05/2014 |
Sunday, January 22, 2017 12:40:00 PM
(Source: https://www.sec.gov/litigation/suspensions.shtml)
If one trades penny stocks, encountering SEC actions is not unusual at all. I have personally had many tickers halted while I was holding positions for that ticker. A SEC halt is the only action that is worse than a reverse split. A SEC halt automatically sends a ticker to the gray market, and one is lucky to be able to salvage any cash at all out of one's position. Recovering 1% of the original investment is doing well.
That does not mean that DNAX is in any danger of a SEC halt. The SEC never comments on investigations, so there is no way to know what the SEC is doing. However, by all appearances, Adrian has played correctly by the rules. Even if he was scamming everyone, he has been doing it legally.
Note that I have no reason to believe that Adrian has been scamming shareholders. I am just pointing out that if he is scamming shareholders, he has done it in a manner that would not likely bring a SEC action.
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