Metrospaces Inc (MSPC)

[janice shell]

The theory is that any disclosure is better than no disclosure. While that is to some extent true, the bottom line is that companies using "alternative reporting" can disclose what they want, and not disclose what they don't want. Some Pink Current companies offer no more than one or two page financial statements, without notes of any kind.

The SEC does occasionally review filings, looking for problems. They're supposed to do at least one submission for every registered company every two years. Obviously that doesn't catch everything, but the companies are aware they'd better not get too crazy.

MSPC should just have kept up with its SEC obligations.