Well.... that's just the point of the pinksheets itself. The pinksheets are not even a market - they are just a centralized location for quotes that are substandard to "real markets". Basically this is the bush leagues. These flamingo's are not required to file with the SEC, and often does not have to answer to the NASD either - as in the case of ADND, since it is unsolicited. This is the wild west, and why we love it so. We create our own "law" through word of mouth and great hardnosed DD.
Now, from time to time we do see the SEC step in and take action, but that is pretty much only when it's absolutely necessary. They tend to appear when we see huge imbalances (BHUB), corporate spam (IPKL), or gross inaccuracies in the PR's (CSHD).
Anyway, I got caught in the r/s just like you guys did. I was totally caught by surprise on this one, so I do wonder what may be up his sleeve, since the o/s was still very low for a r/s. I figure best case scenario this is a reorganization for a r/m, and worst case scenario this is a reorganization for the dumping of more shares - with the latter being most likely. I am probably not going to hold 'em real long, but I am curious at this point to see what the first PR is going to look like.
Visit the Nano Cap Fight Club sometime. We like to dissect these nano's and call it like we really see it w/o the fluff. #board-7229
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