If requiring a public company suspected of various fraudulent activities, to file accurate K's and Q's before they can continue to do busiess, then you are right. But thats just a psychological barrier on the managements part. The fact is, no one is stopping spng from filing. Someone is making sure they file truthfully for a change.. thats where the holdup starts... Truthful filing means jail time for M&M.
iBox..LOL!!! Section 13a-1,11, & 14.....got to laugh......SEC is holding up the reports!!!
as it has been told 1000000000 times the SEC is NOT holding the filings up ..( in fact they have listed the failure to file in the wells notice ) they can not stop spongy from filing .. unless Edgar terminates their account ..
however, anyone can make stuff up .. any time any day .. if it fits their beliefs ..