El Capitan Precious Metals Inc (ECPN)

[gitreal]

There are thousands of companies behind on their filings, they don't get delisted nor is management arrested.

You are correct about the arrests, arrests are way too rare.

But as far as companies that fall behind in their SEC filings - they will get suspended, and then revoked. The SEC used to wait 3 years or more before taking action. Lately, it is more like 18 months. It's coming for ECPN sometime this year, IMO.

A certified assay is an assay from a legit assay lab, using legit methods (Fire Assay or AA). In Arizona, assay labs used to be registered with the Board of Registration which tended to weed out the scamsters. That is no longer a requirement, so I expect a bunch of up-start labs to pop up....and start issuing fraudulent reports. But, that's beside the point...whatever lab was used by ECPN, they need to say who it is, and show which legit methods were used (not BS tests like "caustic fusion").

As far as the "independent 3rd party" status - Clyde Smith has had a long, close relationship with ECPN as an insider. Just because he no longer has a management relationship with the company does not make him "independent" in my opinion. I wouldn't trust anything he says or does. Why not hire a truly outside, third-party professional with no "baggage"?