SEC's Reason for Action
"Investigative Services Agencies, Inc., is a company incorporated and based in
Illinois. Questions have arisen regarding the adequacy and accuracy of press
releases concerning the company’s operations and financial performance."
The only "Press Release" they could mean, is the "Visibility Report" on Feb. 14th. That did result in the major breakout with about half the float crossing the tape in less than a trading day. That is where Ameritrade threw on the breaks. They've done that to me before on a fully listed Nasdaq stock and were wrong about their reason on the prior case. However, I do give them credit for monitoring.
As for the Visibility Report, I found the details inciteful and not too far different from some of my own assumptions, regarding potential revenue. I've done projects and contracting. Actually, made me less concerned about holding the stock. However, it certainly could cause this type of reaction, and IVAY may need to give futher explanation to the SEC. I do think paying an analyst to provide the report wasn't the best idea, and could bring-on this type of action. A couple of quarters of Revenue and "Earnings" from the contract would have been more conducive to a follow-on projection without the fluff of PE and targets on stock price.
That's my two-cents....
Danno
