Home > Boards > US OTC > Telecommunications Networks > Icoa, Inc. (ICOA)

If there's no evidence that the company exists,

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dtotheb   Friday, 03/05/21 10:51:43 AM
Re: train21 post# 43896
Post # of 44125 
If there's no evidence that the company exists, why should the price go up? The corporate website is gone:

http://www.icoacorp.com/

With no financials available since 2014, why would this symbol not be suspended from trading?

https://www.otcmarkets.com/stock/ICOA/financials

See the new rule change to 15c2-11 from late last year - they're getting rid of symbols that aren't current:

https://www.sec.gov/news/press-release/2020-212

Any comments about why anyone would want to pour money into a symbol that has a good chance of being delisted? They may as well burn the cash in their front yard. If a symbol is delisted - you can't sell. You lose everything in it - there's no way to get your money back. Gone.

Why do I think it would be delisted? Again - no financials for the last 6 years.

The attorney that vouched for this company is being criminally charged by the U.S. Attorney's Office for the Southern District of New York for participating in a scheme to fraudulently facilitate the sale of millions of shares of microcap securities to retail investors:

https://www.sec.gov/litigation/litreleases/2020/lr24973.htm

There are a lot of red flags here compared to many other sub-penny symbols. My main concern is that the company doesn't appear to exist, which means that the symbol shouldn't exist, according to the new rule change to 15c2-11.

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