What's this about reach arounds? :)
Good summary, Dallas. It boils down to the SEC. Like you, I've filed numerous SEC complaints against JPHC/PAVC, the last of them at least a year ago, but unlike you I never even got a telephone call in reply.
I think the SEC takes a "buyer beware" approach to pinkies, which I understand, but then there should be a more vigorous effort to constantly and consistently educate the public about the risks. There needs to be better outreach to warn traders what they could be getting themselves into when they "invest" in these things.
The standard disclaimer about the risks associate with investing in pinkies doesn't suffice. It's nearly the same disclaimer used to describe trading on the big boards, yet the risks are far greater. They're greater because the execs of penny companies like Paivis can and do pretty much lie through their teeth with virtually no accountability or regard for the law.
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