I think you're missing the point, spirit and intent of the board.
First off, NIR, and all it's many associated co's, are private and therefore do not report jack to the SEC. Some of the companies they lend money to do report, many do not. The ones that do sometimes bury the details of the financing so well that the average penny newbie has no idea the forces they are up against when NIR has the ability to dilute them to death.
Most of these so called companies are so full of BS that they would not get favorable financing in any credit environment so in order to keep the doors open and hauling in those often hefty salaries they have to turn to people like Ribotsky or YA (Cornell) to perpetuate the scams.
This creates the so called death spiral that traps these newbies time and time again, causing serious financial harm to them in some cases. Granted sometimes they deserve it when if all they had to do was really read a filing and they would have been warned, but again, many of these companies don't report.
IMO yes, it would be better that many of these scams be forced to go bankrupt than to get monies from NIR and the likes that does nothing but destroy shareholder value in 99% of the cases while allowing inept and often crooked CEO's to continually take money for doing nothing but dreaming up crazy PR's.
This boards purpose is to enlighten those who care to take the time and learn the tactics of these predatory lenders.
There is also the case that NIR, through its many and various offshore entities, is shorting these stocks as well adding even further injury to those who believe in the hype of PR's, henchmen, paid newsletters and touts who run rampant on the internet.
The trouble with political jokes is that very often they get elected. Will Rogers
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