Georgetown Corp (GTCP)

[janice shell]

One thing they ought to do is give more attention to S-1s. They have the power to hold them up forever if they see problems. It isn't that they don't ask questions, but the people doing the asking are accountants. They're only looking to see if all the required information is included in the filing.

They need to start looking at the people involved. Whether, for example, they have a history as selling shareholders in stocks that became pump and dumps. And if the S-1 is deemed effective, they should be on the watch for forward splits BEFORE the stock begins trading, and for debt conversions that will enormously enrich the lenders.