This is a legitimate start up and should never have been suspended.
Here's the thing: you don't know that.
If the SEC's suspension is as a result of unfounded unnecessary complaints and tarnishes this company's ability to continue to do business, then the SEC should be held accountable.
If the SEC gets a lot of complaints about a company, it may decide to take a look. Needless to say, it doesn't do that for everything it gets complaints about, much less every company that ought to be looked at. I could offer a list of at least fifty stocks that ought to be suspended tomorrow, but that isn't going to happen.
If a lot of complaints about FSPM were sent in--and we don't know that was the case--perhaps they would have attracted attention simply because FSPM is an MJ stock. But the SEC doesn't simply read through complains and say "Where there's smoke, there's fire." They do their own independent research.
And they do it over time. They don't decide on a suspension from one day to the next. Once the matter's been researched and evaluated by the attorney to which it was assigned, a recommendation for suspension must be approved by his or her higher-ups. I don't know how many higher-ups are involved. Finally, it's discussed--probably briefly--at a closed meeting of the Commission, and the Commission secretary signs the Order.
In addition, in the early research stages, other entities may be asked to help. If, for example, there's been questionable trading, FINRA will be brought in to identify buyers and sellers. That didn't happen in this case, apparently, since no other agency is thanked in the suspension notice.
It's a cumbersome process, really, and isn't accomplished quickly. Even with cut and dried cases like PGFY does it get done fast. And "fast" is about a week. Usually, it takes three weeks to a month. Sometimes longer.
So if you're looking for reasons for the FSPM suspension, probably you should start several months back. Or more.
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