Replies to post #71224 on DD Support Board and Research Team

[samsamsamiam]

FaceBRAG is one thing - but I thought Linkedin was going for the more professional approach. Guess not.

Then again some touts are known to make up identities on linked in - Like the fictitious CEO of SRGE.

[samsamsamiam]

Somerset Capital/Robert Stevens - check out his blog
http://www.somerset.vc/blog/


...
Why you should be an equity receiver


February 5th, 2014 by Robert Stevens



The SEC calls.


Much ado has been circulating lately about the role of a Receiver in distressed and defunct public companies. On September 3, 2014 the United States Securities and Exchange Commission (“SEC”) delisted 255 essentially dormant Issuers to prevent persons intending to unleash “Wolf of Wall Street” type fraud through manipulating the prices of the Issuers’ stock. According to some, the SEC is acting to prevent illegal hijacking of these companies for pump-and dump activities.



About a month ago I received a call from the SEC on a project company, for which I serve as Receiver. We had recently cleared a reverse stock split with FINRA and were preparing a disclosure statement. Friendly and professional, the Staff member told us that the SEC had recently sent letters to hundreds of companies listed as “Unable to Locate” – and apparently this Issuer was one of these. A five minute call resolved his primary concerns – that “someone was minding the store” – and I thanked him for his professionalism.



More recently, and in the midst of wild discussions and incorrect information I thought it timely to discuss Receivership, the role of the Receiver, and why you should keep the strategy as an “arrow in your quiver”.