$$$$$ THE CHILL $$$$$
while reading alleyba1's post, something unfortunate just "clicked" for me. the fact that the chill is still in place (and won't be removed by july 4th of any year) now makes perfect sense.
the chill has been in place for months and months. all of this time, we have heard that IPWG has been battling to get the chill removed. we have heard that IPWG did nothing wrong!! we have heard IPWG has set aside stock to make up for the restricted shares that were sold. we have heard that IPWG has reportedly spent lots of money and time on attorneys and accountants. we have also heard that IPWG has been working on becoming compliant with SEC filings ("THE BOOKS"). while long ago the guilty parties reportedly fessed up.....but all this time, the chill remains!!! WHY? WHAT DID IPWG DO WRONG?????
well, here is my thought....the SEC has requested information from both sides to substantiate their arguments. as part of this, the SEC likely wants to see proper IPWG filing ("THE BOOKS"). but IPWG can't finish. one would think that after months and months that the accounting would be finished. how hard can it be for a company to finish the accounting when there has been no revenue, minimal staff and expenses, no employee turn over, etc.? how hard can it be????
in my opinion, it is REAL HARD because the books are "cooked" and they don't want or can't turn them over to the SEC!!!! BINGO!!!!!
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