Grifco Inc (GFCI)

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I dont understand the SEC.....

I was reading thru some recent trade halts and came across a few stocks that got halted and are being investigated for: "lack of current and accurate information about the company because it has not filed periodic reports with the Commission.." and these are Pinksheet companies, that as far as I know dont require filings, take AMCY American Motorcycle, it was halted by SEC on May 8 , the reason it lists is above, well how does a company like GFCI still trade? does it have to go 7 years of ripping off investors before it will be halted and looked into more closely? Makes no sense ...... SEC needs to step in a take action on Grifco GFCI IMPO.....

COMMISSION ANNOUNCEMENTS - SEC Suspends Trading in American Motorcycle Corp.

THURSDAY , MAY 08, 2008 07:46 PM



May 08, 2008 (SECURITIES AND EXCHANGE COMMISSION RELEASE/ContentWorks via COMTEX) -- The U.S. Securities and Exchange Commission announced the temporary suspension of trading of the securities of the following issuer, commencing at 9:30 a.m. EDT on May 8, 2008, and terminating at 11:59 p.m. EDT on May 21, 2008:

* American Motorcycle Corp. (f/k/a Scope Industries, Inc.) (AMCY)

The Commission temporarily suspended trading in the securities of the company due to a lack of current and accurate information about the company because it has not filed periodic reports with the Commission for over seven years. This order was entered pursuant to Section 12(k) of the Securities Exchange Act of 1934 (Exchange Act).

The Commission cautions brokers, dealers, shareholders and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by this company.

Brokers and dealers should be alert to the fact that, pursuant to Exchange Act Rule 15c2-11, at the termination of the trading suspension, no quotation may be entered relating to the securities of the subject company unless and until the broker or dealer has strictly complied with all of the provisions of the rule. If any broker or dealer is uncertain as to what is required by the rule, it should refrain from entering quotations relating to the securities of this company that have been subject to a trading suspension until such time as it has familiarized itself with the rule and is certain that all of its provisions have been met. Any broker or dealer with questions regarding the rule should contact the staff of the Securities and Exchange Commission in Washington, DC at [phone]. If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action.

If any broker, dealer or other person has any information which may relate to this matter, they should immediately communicate it to the Delinquent Filings Branch of the Division of Enforcement at [phone], or by e-mail at [e-mail]. (Rel. 34-57797)