Gifa Inc (GIFX)

[reaper247]

GIFX could be looking at an SEC halt within a few weeks.

Total potential losses for shareholders who don’t understand the pending SEC enforcement actions.

SEC Proposes Amendments to Enhance Retail Investor Protections
https://www.sec.gov/news/press-release/2019-189

…The proposed amendments contribute to the Commission’s ongoing efforts to better address risks to investors, particularly retail investors. The Commission believes that investors who have access to current and publicly available issuer information are better equipped to make informed decisions about how to allocate their capital.

“Over the past several years, the Commission has brought hundreds of enforcement actions involving tens of millions of dollars in investor harm,” said SEC Chairman Jay Clayton. “When there is little or no current and publicly available information about an issuer, it is difficult for an investor or other market participant to evaluate the issuer and the risks involved in purchasing or selling its securities. Protecting investors by facilitating their access to current and basic information is a core component of our regulatory framework.”
Stephanie Avakian, Co-Director of the Division of Enforcement, said, “This proposal is the result of a multi-year cooperative effort between our Division and the Division of Trading and Markets to prevent the type of microcap fraud that our Enforcement staff sees every day.”

Steven Peikin, Co-Director of the Division of Enforcement, said, “This proposal represents an important proactive step to prevent these types of frauds before investors lose their hard-earned money.”

Brett Redfearn, Director of the Division of Trading and Markets, said, “The proposal focuses on the need for current and publicly available disclosures in over-the-counter securities and at the same time is intended to inhibit a quoted market for OTC securities that may be used as vehicles for fraud. This would result in better protection for investors...”

The public comment period will remain open for 60 days following publication of the proposal in the Federal Register.

That PR was Sept 26 2019.

The comment period is ending.

Holding a non-reporting, caveat emptor shell like GIFX, ahead of a formally announced SEC enforcement action, that specifically targets stocks like this, is not for the weak and weary.

Its for the desperate.

Just my opinion.

GLTA, IMO and FWIW.