Replies to post #71935 on Market 99 Ltd (fka MNTY)

[SammyTheBull]

It's a catch-22. The pinksheets have lots of foreign ADR's listed. Many small banks, large bankruptcy restructings, debt instruments issued by large caps, etc. There's close to 90,000 securities on the pinksheets. Shady penny stocks make up a small portion of it.

Rather than change or abolish the market, the SEC says buyer beware to those buying penny stocks. By doing so they're saying go ahead and hang yourself but remember we warned you. They've tried to at least make it more difficult and reduce liability for brokers by demanding that all penny stock trades be unsolicited, which means if you screw yourself it's you own fault.

Now that doesn't mean they turn a blind eye to shady pinksheet stocks but they only have limited resources so it has to be a slam dunk for them to go after a company. In fact, the SEC has never lost a case after indicting a company.

[thesource]

I think eventually this pink sheets and grey sheets will be stopped . I would like to see stricter regulations on companies . Currently , these companies are all pretty much scams . You can make money on them as I have done but you can also lose a lot more than you make . I have about 25 pink stocks that I have shares in . 90% of them are +90% in the negative for a loss of about 10K so far . But every now and then you are in the right place at the right time and those losses will get eaten up by huge profits . ECFL was one of those stocks I managed to make some really decent profits in but got greedy and ended up losing some of it back to the POS .