The SEC is a Worthless POS. The only way they would enforce any rule that would make the price go up is if the MMs had a boat load of shares to get rid of.
Consider a similar situation with a stock GVRP and the SEC's criminal actions!
They allowed "insiders and friends of insiders" to admit to selling ONE share (the float - OS was 11) 138,000 times IN ERROR (yeah sure) in advance of a 3,000,000 to 1 FS.
SEC rules and regulations are EXPLICIT for what happens with FS selling mistakes. These folks who sold they 138,000 shares were obligated to buy them back on the open market. When they went bankrupt their brokers were next up.
Oh GEE the SEC just could not see making broker friends liable for their client's mistakes. RULES ARE RULES but ONLY WHEN WE THE SEC SAY THEY ARE RULES - Criminal POS's.
To make a long story short, the SEC knowingly allowed the company to do a illegal 3M to 1 RS which never appeared on the daily list. Also, their was the insider only special 3M to 1 FS for "shares sold in error" that only insiders got. Oh and so that insiders who did not sell were rewarded fairly they too got like 80M FREE shares for NOT selling.
THE COMMON INVESTOR GOT SCREWED
The company went to the greys and never traded again. Friends of the insider got to sell 100K shares for around $500K.
Investors were leeft with "cancelled IOUs" (due to the illegal RS and never being allowed to trade again).
PURE FRAUD brought to you by the SEC -
So why does anyone here believe that FINRA or the SEC give a dam?
They only care when it benefits their friends on Wall Street.
Before you criticize a man, walk a mile in his shoes. That way, if he gets angry, he's a mile away and barefoot.
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