The SEC makes millions from these companies when the ipo to nasdaq like $500,000 companies has to pay the SEC okay..now why would the SEC bite the hand that feeds it.? if the SEC was strict on listing to the nasdaq. and otc,50% of current stocks would not be trading in nasdaq.
and reason there is less company listing in the nasdaq is nobody would pay the SEC $500,000 in listing just to list shares in the exchange if the company was profitable and legitimate company and don't need investors if you know what i mean. for small profitable companies. why would they need to list in the exchange. there is no investors and cost to list and being a public company is 10% of their revenue which is rediculous. it's too costly for legitimate companies to waste money being public company. $500,000 SEC listing fee is like some company annual net profit okay $500,000 is not pocket change. and it doesn't cost the SEC $500000 to rubber stamp a company listing and doesn't take months either. it can be done in one day. same with these company claiming to have difficulty filing their latest financial statements, they don't want to file their financial statements. these poeple are acting like a freaking Trump.
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