This is most likely part of the complaint lodged to the SEC about UTOG, as I'm sure this part was PR'd as well. But I remember Patrick Smyth not worried about backing up these statements with hard geographical analysis of the property and estimations of oil. I believe that was part of their 1,000 page attachment that followed the 15c-11 filing in getting relisted back to the OTCBB.
UTOG may perk up abit on the latest news, but again... their not going to make any drastic headway to where they sat before this was delisted until their uplist is approved by FINRA.
FINRA can delay for years if they want to. I believe it just depends on how long these off shore hedge fund companies that don't have to disclose where the money comes from (terrorists, militia groups, mafia, etc) takes to launder that money through the US OTC market. Perfect place to continue to contribute to "weapons of mass destruction."
You would think that Homeland Security would be all over this, but then again the US is always slow to stop corruption that profits the 1%.
I don't know if anyone noticed that there were about 19 penny stocks that got their trading suspended days after UTOG. That was a bold move on the SEC's part as trying to show some attempt at doing their job and shutting down some of these scam companies that are nothing more than a business that's into selling stock. The only problem is that "innocent" companies got caught up in that, and I believe UTOG was one of them.
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