Monday, December 31, 2018 12:11:09 PM
In that case, one should promptly report it to FINRA as being fake. Then again, it isn't fake, and the semi-monthly short data a reflection of Rules 201-203 is valid.
Ah yeah, reminds one of the EFLN glory days of 2017. Lease a small parcel of land in the historic (hysteric) 1800s panning gold area of California fur $1K/month. Then promptly claim out of the Microcrap ether, to suddenly have $500M in gold assets.
Who needs to conform to SEC Guide 7 standards for reporting reserves - certainly not a Microcrap Pinky. Where EFLN's only asset was a vivid imagination.
Still an interesting scam idea. Any individual can doo it. All one has to do is lease California land for $1K/month. Claim instantly to have $500M in gold assets. Then trot off to the local bank asking for a $250M loan using the mythical $500M in claimed assets as collateral. Live the rest of one's life in luxury, on $100M, using the rest to meet monthly loan payments. Yeah...that''s the ticket! No doubt any bank would go for that!
It was entertaining comedy from the EFLN CEO&family!
Frequently happens with suspended stocks. The debt note buyers no longer interested in receiving stock in a dead Microcrap scam. Also becomes a little more dangerous for the insiders to dump into a suspended stock. The SEC doesn't like that crap.
Some scams never dry properly.
The Jewel of the Mind is Colored with the Hue of what it Imagines
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