Saturday, July 20, 2013 4:19:38 PM
BGMO, as a pink sheet company, is not registered with the SEC. If so, what regulatory oversight is there?
The SEC would not approve or investigate any BGMO activities, financial statements or press releases unless BGMO defrauded tens of millions of dollars from investors. From what I have read, they usually will not even go after smaller issuers with minor amounts of malfeasance.
As for a public company, there are difference definitions based on the market value of the company or the number of registered shareholders. I thought the threshold for the latter was 500. If so, then, BGMO would still be considered private.
If they want to claim that they are public then what about the management circulars and proxy materials before the AGM? What AGM you might ask? That is that annual event when the shareholders can ask questions of the management which does not happen!
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