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Wednesday, September 23, 2020 8:52:23 AM
Changes to better regulate S-8 filings were introduced to prevent abuses of the issuance of stock. The Securities and Exchange Commission (SEC) sought to stop instances where issuers and stock promoters manipulated S-8 filings to make illegal offerings of securities.
.A common scheme would include an individual who was designated as a consultant to the company even though they never provided any consulting services. The individual might act to promote the stock for the purpose of boosting its market price. The individual would receive a large quantity of shares through an internal program registered through an S-8 filing and then immediately sell all the shares on the public market. The issuer of the stock would, in turn, receive the proceeds.
Curious, is Joseph Noel presently a SGMD paid consultant? And do you know if he was involved with writing up Budlife Whitepaper and orchestrating the staged Budlife warehouse video a while back? Thx
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