With all due respect, and based on nothing more than 45+ years of dealing with the SEC, 32 initial public offerings, countless Reg D's and secondaries, over a thousand different corporate entities acquired and service on a number of SEC committees, I like to believe that I have developed some degree of insight vis a vis what the SEC deems what it's worth its time to focus on and focus on and what they don't.
I understand that you feel that you have been slighted by Black Art Beverage and that you have in your possession written communication that you consider supportive of that position.
Unfortunately, I sincerely believe that you will come to learn later rather than sooner that the SEC just doesn't care about non-reporting Pinks that lack the deep pockets to make an investigation economically viable for them.
My opinion is that the SEC has certain internal guidelines that revolve around the ability of a miscreant public company to pay the fines it might impose or cause any funds to be disgorged to any shareholder body.
Of course you're going to do what you feel appropriate, but my suggestion to you would be to spend (as a shareholder's group if necessary) a few hundred bucks and meet with a private attorney that specializes in SEC work. Bring him your documentation and ask him the questions that are on your mind about what you're thinking about doing, but make sure that the first thing you tell him is that the company is penniless as are the founders. This first sentence of qualification should save you from paying any more money for guidance than you have to.
I hope that this makes some sense to all.
