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Thursday, January 03, 2013 9:11:09 AM
On Dec. 28, Southridge put up a statement on its website which stated, "The Company would also like to express that documentation regarding the engagement with Kinross was on file with the SEC prior to the December 26, 2012, news release."
There are only two possibilities here. Either southridge lied or they gave their "documentation" to the SEC PRIOR to Dec. 26. If they didn't lie about giving the "documentation" to the SEC, then the SEC had Southridge's "documentation" prior to making their decision on Dec. 28. If, on the other hand, southridge lied about providing the "documentation" to the SEC, that makes the whole question of documentation a moot point.
On Dec. 28, having reviewed Southridge's "documentation", the SEC issued an Order of Suspension of Trading against Southridge. That order gave the following reasons for the suspension.....
"...because of questions regarding the accuracy of statements made by
Southridge in press releases to investors concerning, among other things, the company’s
business operations and arrangements, including certain claims regarding a joint
partnership and an arrangement to obtain funding and to change the listing venue for
Southridge stock."
The SEC had two days to review the "documentation" provided by southridge and they rejected it. The SEC does not issue suspension orders lightly, as stated in the SEC Bulletin on Suspensions....
"The SEC is mindful of the seriousness of suspensions, and carefully considers whether it is in the public interest and for the protection of investors to order a trading suspension."
"The SEC suspends trading in a security when it is of the opinion that the suspension is required in the public interest and to protect investors. Because a suspension often causes a dramatic decline in the price of the security, the SEC suspends trading only when it believes that the public may be making investment decisions based on a lack of information, or false or misleading information. A suspension may prevent potential investors from being victimized by a fraud."
It only matters that the SEC has investigated and judged Southridge and suspended them and relegated them to the grey market. The SEC's investigation found NO wrongdoing by KGC.
Southridge attempted to victimize and blackmail Kinross. They picked the wrong company to attack. { 8^D
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