Not necessarily true.... I have seen penny stocks... claim 50 million dollar contracts with the US Gov't... AND WHILE SOME CLAIMED IT WASN'T SO..... OTHERS... STATED THE SAME TYPE of COMMENTS... NO ONE WOULD DO THAT... THEY DID... SHAREHOLDERS LOST TONS.... AND THE CEO is in JAIL...
No one believed that they would say such a thing ....not have it true... BUT IT WAS...
The contrarian view is that filing SEC forms helps cover over a scam. It can give false assurance to investors as to company operations and intentions. A dishonest operation can go on for years......yes, years!....before being called out and discovered. Without an audit it is impossible to verify correctness of such filings, yet the filings continue.....as we know.
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