They just “didn’t do filings for any reason”.
Did you actually read the case history here? Or are you just listening to the cheerleaders on this board?
DBMM came out and admitted that they made a deliberate decision to ignore the filing requirements for almost three years. Why?
Well, the biggest reason stated was because they were STUPID and had VOLUNTARILY entered into a toxic loan agreement with a KNOWN TOXIC LENDER(Asher). Then, when their stock price was getting HAMMERED (Geez, what did they expect?), they decided that they had better spend what little money they had to fight Asher and try to remove themselves from that loan agreement. They said the decision was “an easy one”.
Should the SEC have ignored the lack of filing because LINDA and DBMM were STUPID?
It’s ridiculous to even think DBMM would use this as a valid excuse for not filing.
Then there’s the excuse about auditing companies. Is it the SEC’s fault that DBMM chose to use a shady audit company with a terrible record? One that the SEC eventually found so bad that they had to stop companies from using it? Then DBMM went through a SERIES of auditors before they finally found one that would put up with Linda’s shenanigans.
Another flimsy excuse for not complying with filing timelines and regulations.
Then there’s example after example of DBMM ignoring the Enforcement Divisions requests to change the wording or the financial information in their late filings. In the beginning, DBMM simply said that they disagreed with Enforcement and refused to amend the filings. Then DBMM entered into a series of amendments, but each one always had a sentence that absolved DBMM principles of responsibility or lacked critical 10Q numbers from the past. Enforcement STILL TO THIS DAY finds the filings insufficient.
The history of DBMM operations is replete with years and years of excuses, not only for the SEC but for their investors.
DBMM is a terrible company and a terrible risk to investors. This is why the SEC will eventually take it off the board.
I keep telling myself....deep breath....count to ten....try to answer without personal attack...if available, always try to present fact to back up your opinion.
