The problem lies with the SEC. ALL company CEO's of a PUBLICLY TRADED COMPANY have a fiduciary responsibility to do what is BEST for the COMPANY and SHAREHOLDERS.
Now as I said, the SEC is at fault. They do not pursue these scam pinkies with the same zeal as they are currently pursuing people like Madoff, or as they went after Enron...some of the companies that back dated stock options, or any of the other larger companies that actually have M O N E Y. Reason being...ya can't get blood out of a turnip. The SEC can spend time and money prosecuting these scams and crooks (pink sheet stocks)...resources they know they will NEVER be reimbursed for.
OR....they can go after companies they know they have a very good chance of recovering some monies through fines/judgments. Now with that being said, they can counter any challenge to a complaint that they do not go after pinks because they will...and have....on rare occasions...pursued a pink scam and got the worthless win and fine/judgment against the crook knowing full well they will never see a penny of the money.
But hey...they do have some to show...so they have done it, and still do pursue them. But what is the ratio of complaints to investigations down here under the toilet. Personally I have filed 19 separate complaints involving RRUN/JPHC/PAIV/APOA/PAVC the old TA Donnolly, and TDAmeritrade. I received 4 phone calls from the SEC to get further clarification on several of my complaints, and the most information I received from them was..." We are aware and are investigating ". Not a single friggin word or response from them in over 2 years now.
So pretty much...we get bent over....packed...and not even a kiss or a reach around.
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