Yep... And these SEC reporting scams always say... We are SEC reporting, so we have to be legit and transparent. Fact is, it's nothing but a tool to convince their marks to give them money. Time has proven over and over that SEC filings can be complete bullshit.
I think we can all agree the SEC is pretty worthless and inefficient. I believe they currently have a lawsuit against Elon Musk for failing to disclose his stake in Twitter/X. The market as a whole is the wild wild west. The SEC is the drunken sheriff sitting in a rocking chair outside of saloon watching bandits drag local towns people behind their horses whilst shooting their guns in the air.