Globe Photos Inc (fka GBPT)

[bWADDv]

Thanks....Here is a older article 11/2005 worth taking a minute to read about the old subject of PinkSheet scams.
http://www.usatoday.com/money/markets/us/2005-11-10-pink-sheet-cover-usat_x.htm

Here is a little from the article...

"Stocks on the Pink Sheets system fall between the cracks of regulation. The NASD regulates brokers, not the stocks they trade. The Securities and Exchange Commission, with few exceptions, regulates only companies with more than $10 million in assets and more than 500 shareholders. Virtually no stocks traded on the Pink Sheets clear that bar.

"As a practical matter, smaller companies tend to fall below the SEC's radar and state regulators'," says John Coffee, securities law professor at Columbia University. "They're too small."

That means a lot of latitude for anyone who wants to abuse the system. Only when a penny-stock scam runs blatantly afoul of the law or violates anti-fraud provisions can the SEC get involved. "
So in my take of the article...PINKSHEETS are not above the law if they get caught!