Microcaps : It should be common knowledge that Pink Sheet stocks report to OTC Pink Sheets and NOT to the SEC . However , the SEC is still the overseer and has full power to invoke an Administrative Proceeding against any Pink Sheet Security for various reasons . The topic I addressed was about Financials still being required for Pinks to the OTC Markets , and a prolonged failure to file unaudited Financials as has occured for Cotton and Western can result in an SEC demand to do so , via an Admin Proceeding .
With the links I provided in my prior post one can see that the SEC has served Admin Proceedings against dozens of Pink Sheet Securities for failure to file Fins .
With the DTCC action and CWRN downgraded to Caveat Emptor the company is at greater risk of an SEC Admin Proceeding that typically gives a subject company ten days to file Fins or face SEC Litigation and an SEC filing to the Courts for revocation .
It would be prudent for C&W to get their Financials filed to circumvent the SEC stepping in .
Caveat Emptor also raises serious concerns , and can be one or more of the following reasons :
Cotton & Western Mining, Inc. CWRN
OTC Pink No Information / Common Stock OTC Markets has discontinued the display of quotes on www.otcmarkets.com for this security because it has been labeled Caveat Emptor (Buyer Beware) and because adequate current information has not been made available by the issuer of the securities. It has been labeled Caveat Emptor for one of the following reasons:
¦Questionable Promotion — The security is being promoted to the public, but adequate current information about the issuer has not been made available to the public.
¦Spam — The security is the subject of spam promotion having the effect of encouraging trading of the issuer's securities.
¦Investigation of Fraud — There is a known investigation of fraudulent activity involving the company, its securities or insiders.
¦Suspension/Halt — A Regulatory Authority has halted or suspended trading for public interest concerns (i.e. not a news or earning halt).
¦Disruptive Corporate Actions — The security or issuer is the subject of corporate actions, such as reverse mergers or serial stocks splits and name changes, without adequate current information being publicly available.
¦Unsolicited Quotes — The security has only been quoted on an unsolicited basis since it entered the public markets and the issuer has not made adequate current information available to the public.
¦Other Public Interest Concern — There is, in OTC Markets' view, a public interest concern.
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