Of course the SEC has been negligent. If their charges of selling unregistered shares are correct, then there is (in my opinion) about $390 million of ill-gotten gain made by the stock beneficiaries who sold those unregistered shares. That's not counting penalties and interest, which could double or triple the amount charged.
In terms of naked short selling, we have the charges filed against our primary clearing firm for exactly that offense, as you know. We also have FINRA charges against certain brokerages, which I named previously, for violating RegSHO. The record shows that there appears to be significant and sustained violations in the trading of our stock by these very brokerages.
Meanwhile, the case drags on, with an admittance of guilt obtained by the SEC in the Halperin case, but no such admittance of his guilt in the DOJ case. This will likely be seen more frequently, as the SEC continues to be forced to do their job by the implementation of Dodd-Frank reforms.
We're even seeing Congressional efforts to make the DOJ do their job, such as in regards to the lead prosecutor in the SpongeTech case, Loretta Lynch. I find it all amusing, to say the least.
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