"If this was nothing but BS, the SEC would've jumped in and halted this right away, imo." - If enough peeps scream at them they will....otherwise, not likely. Sufficed to say, if you are going to scream at them, make sure you not holding any shares at the time...
I agree w/you completely. I was almost "thrashed" in another stock that did just that. PR's drove it up, but when we finally saw the LOI, looks like it had been written on a bar napkin.