Replies to post #254273 on Digital Brand Media and Marketing Group Inc (DBMM)

[Stock_Barber]

The discussion was about the SEC's concerns that DBMM won't be able to afford to continue to file... remember?

The subject mysteriously changed...



.

[Jetmek_03052]

Quote:

“Enforcement Division has no authority to take an action. “

Of COURSE it has authority to take action.

Enforcement took action to generate an OIP against a severely delinquent filer. In fact, it’s the ONLY division (besides the Board) able to take such action.

Hence the name ENFORCEMENT DIVISION.

Try another tact. That one has no logic.

[Jetmek_03052]

Foelak also wrote this in her Initial Decision:

“despite the best intentions, future compliance is affected by the company’s financial status and need to rely on obtaining outside financing. The company’s continuing losses means it has insufficient revenues to cover all its expenses, which include the expenses of auditing or reviewing its financial statements and filing periodic reports. The need to obtain outside financing, which may or may not be forthcoming, will impact future compliance.”

She admits that DBMM has continuing financials that show insufficient income to complete filings on their own, and is reliant on borrowing to complete them, and that if such borrowing did not continue, it would affect future compliance.

Then she went ahead and "dismissed" the proceeding.

What a loony toon!

This is just a small part of evidence that proves that Foelak's ruling was wrong and will most likely be overturned by the SEC Board of Commissioners.