The "fine" is the least of GlobeTel's problems.
If the SEC had been "working with" GlobeTel, why did they get charged at all. Surely you don't think GlobeTel was offered a $30,000 slap on the wrist like Huff do you? "This" is what GlobeTel is facing...
"The SEC alleges that GlobeTel violated Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933 ("Securities Act") and Sections 10(b), 13(a), 13(b)(2)(A) and 13(b)(2)(B) of the Securities Exchange Act of 1934 ("Exchange Act") and Rules 10b-5, 12b-20, 13a-1, 13a-11 and 13a-13 thereunder, and seeks as relief a permanent injunction, civil penalties, and disgorgement with prejudgment interest."
You ask about the relatively insignificant fine when the permanent injunction and disgorgement could be the final blow for this company. This company raised millions of dollars under very suspicious circumstances and when the SEC gets through GlobeTel could owe millions in disgorgements, or they may simply be shut down for not filing!
What difference does the fine make?
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