The SEC has no control over that. It's as simple as filing with the SOS of Nevada. Along with SH approval setup as more or less automatic. Any proxy vote not sent in (i.e. the majority) will be considered to be FOR everything management is proposing. Then they file an 8K afterwards to satisfy SEC regulations.
As for...
If PMCb rs i will learn how to short
It would take a R/S to get it above $5 for retail to be able to Short it. Maybe a $6 to attract a few Hedgies to Short. The problem for the Hedgies is the PPS would never get to $6. The Tutes would take one look at it, and run away. That leaves retail to take it to $5/beyond, and keep it there. As in retail from OTC Microcrap ville, already tapped out. All the while Kenny selling discounted block shares to 3rd parties. Or will Kenny take the plunge into toxic debt notes? Oh what fun the stock dilution could be in the future.
News 
Market Data 
Discover 
