Eventure Interactive Inc. (fka EVTI)

[VeronicaFox]

It’s ridiculous. Something good came out of it though, I read a super article on the Suspended scams. Kudos to the author! Hope you enjoy it!


“History has shown us that if defunct shells are allowed to continue to trade, it only leads to future market manipulation and securities fraud. Some eventually find new ownership through corporate hijacking then get used for new scams. Others remain dark and become victims of fake press releases and false information being spread on social media. The bottom line is: if they aren’t dealt with now, we will only see a repeat of the same type of activity in the future.

The fact is that no other developed country in the world allows trading of defunct companies or even allows a market for unregulated stocks, free to trade without disclosures to the public.
As a society, we should never accept laws being broken as okay and normal, even if we benefit from the illegal activity somehow.

So, the SEC doing their job (protecting the integrity of the marketplace) should be applauded. It is long overdue.

If the goal of the SEC was just to send a message, they accomplished their mission. But if their goal is actually to clean up the market to prevent similar fraud in the future, they have a lot more work to do.

Even with 71 down, there are still over 2700 no information penny stocks, hundreds of which are completely defunct and unable to be contacted. If the SEC were to stop now, their efforts will be forgotten within months, and, in the whole scheme of things, they will have accomplished very little to clean up the market.

It will also be interesting to see if the SEC starts taking action against some of the social media pumpers involved in the stock manipulation. The SEC has on more than one occasion referred to “certain social media accounts” being engaged in “a coordinated attempt” to artificially influence the share prices, so they obviously have their eye on specific groups involved in the manipulation.”

https://www.securitieslawyer101.com/2021/sec-cleans-up-otc-market-sec-trading-suspension-of-71-penny-stocks/