Many of these "companies" are taking advantage of a loophole in the law that allows them to deregister so they don't have to report. GFGU is one of those. I talked to the SEC about another deregistered company and tried to find out exactly what the parameters were. The SEC attorney I spoke to said that if a company has either less than 500 share holders or $10,000,000 in assets, they qualify for deregistration.
That was not my original understanding, based on what went on here with CMKX. Once they are deregistered, the SEC just doesn't seem to care much. I was advised to go to the the securities division of the State in which the company was incorporated with any complaints.
These schlock companies are hiding behind deregistration and having a field day.
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