If you look at the links from the YAGI page you'll see when you clink on the links that each of the separate company filings was reported to the SEC twice... once as it is tied to the original company filing, and once to fulfill the requirement to report the relationship and its impact on YAGI. Follow the SEC reporting of those cross filings from the YAGI side and you'll see the various companies YAGI is into deeply enough that they have to post cross filings for them, so you can at least keep track of their reportable moves.
To keep closer track of the individual companies, you still need to follow the rest of the filings for the individual companies, reading them in the context that you know YAGI is lurking there in the background...
Still doesn't help illuminate those companies that YAGI has begun getting their hooks into where the hooks haven't yet been set deeply enough to require cross filing. Also an issue apparent in some of those that appear to have "escaped"... where the "escape" constitutes a transfer of the YAGI position to some other that gains a similar degree of control. Some of those will be YAGI subsidiary or associate companies, some will be YAGI wannabes, and some few will be actual survival stories. Where you see company management buying out the YAGI position... you still need to ensure that the result is "escape" in fact, and not just a management having learned from the YAGI experience how to capture and control the company and its investors with convertibles themselves.
The reality of the problem with toxic financing is that it subverts the market function generally by transferring the use of capital raised in the market by/from the companies who own the right to issue shares, to others who aren't using the capital for any proper purpose, as a fiduciary. That proper purpose within fiduciary limits is the only reason that companies are allowed access to the market... and the transfer to others of that "right" to tap the markets, where the fiduciary interest is subverted, is improper.
The primary problem with the toxic financing scam in the longer term is that it tends to subvert the legitimacy of corporate governance in broad terms... lowering standards of accountability across the market... further divorcing management interest from investors interest... and subverting the legitimacy of corporate governance and investment, generally.
The broad impact is to subvert market function generally by substituting a structured and destructive self interest in lieu of larger fiduciary responsibility... undermining trust generally... by enabling parasitic profiteering from fostering purposeful destruction rather than enabling profit from shared success and shared risk.
The market requires trust to function... and that trust needs to be enabled because it is legitimately deserved... because fiduciaries meet their responsibilities to those whose interest they keep in trust, rather than enabling them in taking profits in self interest gained at those others expense.
YAGI isn't the sole source of the systemic problem with the cancer that is infecting the markets now... but it does present a single locus where there is a significant and quite obvious tumor...
The larger problem is the fact that fiduciary responsibility has been allowed to be made a fiction...
Most obviously that same brand of corruption is seen in brokers enabling short sales based on forcibly "borrowing" your shares rent free to rent them out to others to have them be shorted... collecting rents on properties they don't own while using the property against their fiduciary responsibility... which has your broker using your "good faith" investment to hurt you for their own benefit by violating their fiduciary obligation to protect your interest rather than harm you for their own profit.
While the SEC action against YAGI is worth watching... the problem that exists is more fundamental and much larger in scope than that which results in an instance where some too clearly cross the lines in the law.
The larger problem is in what it seems the law now allows... and in what the regulators allow in their interpretation of the laws. The problem that exists broadly subverts capital formation by enabling greater profit from capital destruction than capital formation, and it is enabled by allowing the violation of fiduciary responsibilities as fiduciaries trade their own accounts in lieu of meeting responsibilities to the public, to the markets and the investors.
Fix YAGI...
Fix the SEC and FINRA...
Fix the law...
Fiduciaries must put others interest first... and be permanently terminated when they do not.
Without fixing ALL of that... continuing the long term decline we've begun is inevitable.
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