Grifco Inc (GFCI)

[cyofish]

Well it seems like regulating the pinksheet scammers would be a fairly easy thing for the SEC. For instance they can make it mandatory that any company issuing a forward looking statement must issue a follow up statement within 60-90 days. The follow up must confirm the results. It should state that the event took place or didn't take place, and the reason why. Company like Grifco thrive on putting together string of glowing forward statements without ever following up.

SEC/PCAOB should also set penalties and fines for those CEO violating the requirements to make it easier to prosecute them. They should make it criminal for CEO not to comply.

The publicly reporting companies follow up as a matter of ethics. They also put out quarterly reports that will disclose the results and business events in great detail.

SEC should also get on Nevada about raising their incorporation standards so it won't be such a haven for scam artists.