Tuesday, September 01, 2009 10:41:15 AM
If you believe SEC investigation is really going on why would it take over a year? I could imagine the cost would run in the hundreds of thousands.
There are numerous other logical reasons why I don't believe SEC is investigating Grifco.
The only way to curb pink sheet fraud is for the States like Nevada and Wyoming to set higher standards for these rouge companies. SEC can also set higher standards for microcap companies making it easier to enforce blatant violations.
SEC would probably argue that these microcaps struggle to survive and they don't have the funds to support a higher compilation standard. Let this be a lesson for those who champion deregulation. Pinksheet/microcap is an epitomizes what would happen when you don't regulate the market.
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