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Re: Jamesmobile post# 145323

Wednesday, 03/06/2013 3:48:12 PM

Wednesday, March 06, 2013 3:48:12 PM

Post# of 167993

... but why not suspend the stock indefinitely?

The SEC does not have the authority to suspend a stock indefinitely. All suspensions of OTC stocks are for up to ten trading days only.

http://www.sec.gov/investor/alerts/tradingsuspensions.pdf

Why haven't we heard any of the results from the investigation that the SEC was performing?

SEC investigations are confidential. The Commission will not even confirm an investigation is occurring unless/until it files a public action.

Investigations by the Securities and Exchange Commission

Securities and Exchange Commission (SEC) investigations are conducted confidentially to protect evidence and reputations. Important documents could be destroyed if an investigation is publicly announced, so confidential treatment may help to preserve key evidence in a case. A confidential process also protects the reputations of companies and individuals where the SEC finds no wrongdoing by the firm or the individuals that were the subject of the investigation. As a result, the SEC generally will not confirm or deny the existence of an investigation unless and until it becomes a matter of public record.


An investigation becomes public when the SEC files an action in court or through an administrative proceeding. The SEC website contains information about public enforcement actions. For additional information on how SEC investigations work, please see the following bulletin by the SEC’s Office of Public Affairs.

http://www.sec.gov/answers/investg.htm


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