GRN Holding Corp (GRNF)

[samsamsamiam]

Familiar with Shell Expel a few years back? It was the SEC's attempt to deal with all the fraudulent uses of shells including reverse mergers. suspended close to a thousand of them at the time. Seems to me they missed a few. Maybe they need to kick that back into action. right now they are focusing on the delinquent filers.


https://www.bu.edu/rbfl/files/2014/03/RBFL-V.-33_1_Gardner.pdf


A. Introduction

On June 3, 2013 the Securities and Exchange Commission (“SEC”) suspended trading in sixty-one microcap shell companies.1 This suspension was a continuation of “Operation Shell Expel,” the SEC’s effort to combat fraudulent practices involving microcap shell companies on the over-the-counter (“OTC”) market.2 This latest suspension follows an even more extensive initiative in 2012, in which the SEC suspended trading by 379 dormant shell companies.3 The SEC targets microcap shells because they often play a key role in suspicious reverse mergers and more blatantly fraudulent pumpand-dump schemes.4 Operation Shell Expel requires suspended shell companies to provide updated financial information in order to regain their trading status.5 Scrutinizing microcap companies in this way dissuades scam artists from taking advantage of them.6


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https://www.securitieslawyer101.com/2018/operation-shell-expel-in-retrospect/


https://www.securitieslawyer101.com/2015/why-operation-shell-expel-gets-an-f/


this might make things interesting:
A word of warning to issuers going public. Beware of penny stock attorneys selling shells they may be working under the instruction of regulators to entrap investor relations providers and unsuspecting companies seeking public company status. It has yet to be seen how state bar associations will welcome the bar grievances surrounding the role of securities lawyers in this activity.