Another sad story in OTC Land! Perhaps it is just my "impression", but it appears the SEC might be getting a bit more aggressive regarding delinquent filers. I feel compassion for those who continue to hold XLIT! I have twice experienced a similar fate, i.e. "been there, done that"! These scams are the primary reason I have personally chosen to post as a contrarian on a few OTC IHUB Boards!
IMO...James Schramm, and others of his ilk, should be hung by their privates! One would hope the SEC can find enough evidence of a scam to allow pursuing Schramm with both civil and criminal actions!
As an aside, the recent spate of "suspensions" should serve as a reminder that the under-staffed SEC does in fact endeavor to protect the investors! In addition to the companies that are extremely delinquent in filing, those that "choose" to DE-REGISTER with the SEC should immediately be deemed "SCARY"! Run away and run away fast!
