Alright guys, now that everyone has calmed down a little I have some questions for us to think about and try to answer that may lead to some insight. However, I think we all need to be realistic here, both the long koolaid drinkers and the haters getting in their "i told you so's" I am trying to take as much of a detached stance on this as possible so if any of these questions seem biased I dont mean for them to be.
-The SEC filing said there were QUESTIONS regarding the adequacy of the information. Doesn't questions imply that there havent been any conclusions? I also think that it is interesting that GTGP is the largest of the companies to get suspended and that it is a good sign that they were only cited for adequacy and not accuracy.
-Someone mentioned that GTGP could send their financials to the MM during these 10 days, if the MM reviews them and gives it the green light trading resumes on the pinks, is this correct? or is NITE already out of the picture? I think if this is possible and IF jim has been working on the financials in light of the MSE deal it might be a matter of submitting them to the MM for review. Secondly, is it a guarenteed that this goes to greys? I assume if, in fact, NITE is already gone this would be the case, so really this quesiton relates back to where NITE currently falls in all this.
-IF they can send their financials to the current MM for revision do they have to do all previous years of financials or just current/last year? And do these have to be filed with the SEC in forms or is it strictly between the company and MM?
-Do MMs have anything to gain by sponsoring a stock? I understand that once pennies hit the greys they never come back. But I do think that GTGP is quite the odd case, just compare it to the other comps that were suspended today.
-Can GTGP still put out press releases? How can jim give us updates? i am not asking if jim will, just if it is possible. also, any ideas on when we could expect some form of follow up from the SEC? I would assume they are going to have to provide details of their findings at some point.
-Can anyone provide links as to whether or not SEC can regulate/demand financials from pink sheet companies? As of now i would say the lack of financials would be the grounds for suspension, but if the SEC does not have the right to regulate this then there is clearly a bigger problem here. And it would also be nice to clear up, again with some verifiable links or DD, if the pinks decide whether GTGP keeps trading or not.
-Were updated financials really sent to the SEC? Is there any way to verify this?
-Why would the SEC choose to do this now? It doesnt make sense to me, as I am sure it doesnt to a lot of you. And it is strange that so many bashers appeared here over the weekend and today. Could this possibly be the doing of a larger rival company? Needless to say this is not what any of the longs were hoping for, or speculating, today.
IMHO with what we have so far:
If this goes to greys its over. History repeats itself and there is obviously no way GTGP will come back. I think the stocks only hope at this point is to be saved, somehow, before this happens. If we do not hear from jim this week its not a good sign. Other than that, theres not much we can conclude until more information becomes available. All any of us can do is simply look on and collect as much verifiable DD as possible to make an informed next move.
GLTA look forward to some answers
