I don't know how long the SEC will wait to act on GTEM. A lot depends on the communication and support from the company. Based upon Mide's comments I believe Jon is working hard to comply so yes I believe they will respond and the outcome will be favorable.
Attitude and communication are the key. It does appear that again based upon Mide's comments the company is headed in the right direction.
I do not believe Jon wants to fail and with all former employees gone that were in charge last year when the SEC first started the investigation I believe the SEC will work better with Jon on this issue.
now this is an excellent post....many thanks for that find....tho there is a fair amount of dif......its timely and very close to GTEM.....once i look into it more i should be able to get a better pic of where GTEM is headed......the major difs are that they had false PR's.....GTEM had false reports.....tho they are not the only ones that have counted revs that should NOT have been......i think the dif is it looks like the sec thinks joe did it on purpose(and most likely someone else hence the other wells).....the other major dif is ALL of the trouble makers are gone from GTEM.....current management has no wells......however this is very good news.....one it still trades and 2 the fine was only a little over a mil for the company.....and they appear to have been combative with the sec.....plus it looks like u can really drag this out if they want to.....when i get some time i'll look into this more......but some things u might want to look at......theirs wells.....did the company 8k when management got their wells....also the timing how long did this take.....some things to check on the GTEM side.....form 4s in 2004.....there really hasn't been any sales since 05.
oh and to answer some of your questions.....yes kostro falls under the sec.....he is the chairman.....he could be from mars....the sec don't care as long as u follow the rules......caterham is NOT required to file Q reports on their holdings as they are NOT an american company.....however they are required to file if they hold 5% or more of any public traded company.....and yes the sec knows from the registrar.....they know how many shares u have....when u bought them and when/if u sold them......so caterham and for that matter.....NO ONE HOLDS 5% of this company.......unless i missed it....inst Q holdings are 13F.....5% onwership is 13D and 13G.
If that's all that happens to Huff he is lucky ! People made millions with the pump to $4 and back down . SEC fines rarely ever disuade the evil doers . Steal $10 mil and if you get caught, pay $3 mil in fines ! Sounds good to me ! If GTEM does get fined anything, I hope insurance will cover most of it ? Just surviving this will be a big boost in investor confidence !
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