Pervasip Corp (PVSP)

[Cooltabby]

Ok here is what I have

Let's keep this on topic, I want no discussions about weather the company insiders are/were crooks. This is about shareholders calling in certs.

First, I have no problem with shareholders requesting certs. What worries me is that the company being involved may cause the SEC to step in.

Back in 2005 CMKM Diamonds had a revocation hearing. During the hearing either the attorney for cmkm diamonds or an attorney for the "owners group" (group of shareholders) attempted to bring up the issue of naked shorting of the company's stock.

Either during the hearing or immediately after an SEC official told the company that if the company attempted to call on shareholders to pull their certs there could be charges of market manipulation. The sec official also said that they were not concerned about present shareholders, only of potential future shareholder. Pretty much telling current shareholders tough luck!

Again, the sec either during this hearing or right after the hearing told either the company's attorney or the owners group attorney that if they endorsed a cert pull there would be charges of manipulation.

That was back in 2005, back then I believe the sec was in full denial about naked shorting. Since then they've come around I guess so their views on this issue may be different now.

I just don't want to see this company doing something that will get the sec jumping on their backs. The SEC in my opinion will not take our side in the naked shorting argument.

That's all I can tell you about this issue. There was a pvsp shareholder here, "narvo" who also owned cmkx stock and maybe can add to this discussion if narvo is still reading this board.

That's all I have.

PVSP!