Smiley, Per cable car capital brochure their investments include shorting of companies with “perceived wrongdoing”. Or another viewpoint could mean shorting a company and then cause the “perceived” wrongdoing.
Subject: File No. S7-12-16 From: Jacob Ma-Weaver Affiliation: Managing Member, Cable Car Capital LLC June 28, 2016
Cable Car Capital LLC ("Cable Car") is a state-registered investment adviser based in San Francisco. Cable Car regularly evaluates companies which meet both the current and proposed "smaller reporting company" definitions and appreciates this opportunity to comment. Cable Car does not support increasing the range of the exemption and, by contrast, would support removing the exemption altogether.
In the course of the investment research process, Cable Car and other similarly situated advisers do not generally distinguish between companies of different sizes when determining whether information would be useful to understand an issuer's business. Although market participants may classify issuers by size for reasons of convenience or investment mandate, there exists no arbitrary size below which investors would prefer to have LESS disclosure about a company. The smaller reporting company exemption exists solely for the expedience of issuers. It must be balanced against the expense of market participants who have less information from which to draw conclusions.
Certain of the exemptions, such as not requiring disclosure of the principal risk factors in securities filings, actively impede investor awareness and should be reconsidered, not expanded to more issuers. Unscrupulous promoters of certain shell companies and smaller issuers already take advantage of reduced related party and management compensation disclosures when effecting pump-and-dump campaigns and similar market manipulation efforts. The Commission should not expand the universe of potential vehicles for this behavior.
As a philosophical matter, Cable Car believes investor interests are almost always enhanced by increasing disclosures by companies that seek to distribute securities into public markets. Far from impeding capital formation, robust disclosures underpin investor confidence and encourage fully informed investment decisions that help ensure capital is allocated to its highest and best use. Thank you for your consideration.
So? A short seller shorting CYDY. Any criminal histories or bankruptcies of note?
On May 3, 2006, in Superior Court of Washington for Clark County Case No. 204227D, Dr. Pourhassan was convicted of a felony domestic violence court order violation. Dr. Pourhassan pled guilty to violation of the provisions of a protection order by contacting his former spouse via email with communication intended for his son. Dr. Pourhassan performed community service, paid a fine of $100, served 24 months of probation and was ordered to comply with the protection order.
On June 9, 1986, in the First District Court in Logan, Utah, Dr. Pourhassan was convicted of a third-degree felony of theft by deception for overdrawing his bank account by approximately $100. Dr. Pourhassan was placed on one-year probation.
Lankford and his co-defendants executed the scheme by obtaining a majority of the free-trading shares of stock of the company they intended to manipulate, using fraudulent and deceptive means to acquire the stock and/or remove the trading restrictions on the shares they obtained.
According to court records, Lankford and other conspirators “parked” their shares with various nominees, such as friends, relatives or other entities that they owned and controlled. Subsequently, they engaged in coordinated trading in order to create the appearance of an emerging market for these stocks, after which they conducted massive promotional campaigns in which unsolicited fax and email “blasts” were sent to millions of recipients. According to evidence presented at the 2010 trial, these blasts touted the respective stocks without accurately disclosing who was paying for the promotions, omitted that the defendants intended to sell their shares, and induced unsuspecting legitimate investors to purchase stock in the companies. The defendants and their nominees obtained significant profits by selling large amounts of shares after they had artificially inflated the stock price. For each of the three manipulated stocks, the conspirators’ sell-off caused declines of the stock price and left legitimate investors holding stock of significantly reduced value. https://www.justice.gov/opa/pr/former-dallas-securities-broker-sentenced-oklahoma-84-months-prison-role-stock-manipulation
Interesting information from the front line ... the level of care should not vary that much I would think from hospital to hospital. Does not seem to be a standard policy. Tough to see how that can be in such a well covered pandemic. For the life of me, I cannot figure out why such drugs that are showing real promise are not being used but yet we have a select few that are really quite concerning as to efficacy and safety and which there is a rush effort to inoculate the masses. Leronlimab usage is getting critical!! Sure hope Mahboob is making real progress at warp speed.