Polar Petroleum Corp. (POLR)

[DragonBear]

That's my point why file a 8k????

But I guess will see in the meantime there looking to get off the greys and get on a diffrent market...

And what would they need to get off the greys?...

A MM willing to sponsor a 211 filing. A Termination Notice from the SEC indicating the investigation has been closed. Else no MM will even think about sponsoring a 211. The 8K just told you there is a formal SEC investigation underway. Far from an investigation possibly ending, it's just getting started.

The next step you will see is a SEC litigation notice, outlining the case they are prepared to go to court with. Only problem, you may have to wait 2 yrs for it to happen. Prediction: In the coming months you will see posts claiming the SEC investigation is over, and a 211 is coming, because nothing more has been heard from the SEC. In the meanwhile in the background the clock keeps on ticking towards litigation. After litigation it might be months or a year before a SEC Administrative notice appears, where both sides have agreed to a settlement: disgorgement of funds, fines, CEO barred from the market. Believe it's called due process of the law.

Why file a 8K? IMO, it's management attempting to show full cooperation with the SEC, in an attempt to later negotiate lower final fines. If anything the SEC is probably startled at the 8K filing. The usual tactic is for these companies to mislead their stockholders further, or hide from the market.