News Focus
News Focus
icon url

ChangeDirector

03/06/10 2:42 PM

#1883 RE: PennyStockInvestor #1881

It is illegal for a company or a potential financier of the company to share information privately about a potential upcoming transaction. It is also illegal for an investor to share such information publicly if he becomes aware of it.

It is also illegal to disseminate false information on a message board for any reason regarding a stock. Not that that has stopped many people.

I am not saying what you have posted is necessarily false or illegal, I am just answering your question.

If I am given DANR a million dollars in financing in exchange for shares, I can't tell this board or anyone individually about that transaction before that information is released publicly.

Especially if I already own shares of DANR. I can't tell people I am considering financing them in x amount, or that I know someone who is, whether it's false or true.

That's my understanding anyway. In the case of your posts, whatever the ultimate result, it's unlikely there would be any kind of legal action from them in any event. The SEC is looking for big fry, not small. And tend to ignore penny stocks.