"The role of the SEC is not to kill promising startup companies."
Indeed not.
Part of the SEC's role, however is to regulate the market so that blatant scams like JBII don't take advantage of the naive and gullible.
Unfortunately in general it's not very good at that role, because it is far too lax and lets most of these penny stock scams operate unhindered.
In the rare cases when SEC actually does intervene, as in the case of JBII, you know its case is rock solid, equivalent to an affadavit from a major deity.
"The SEC's principal objectives are to ensure that the securities markets operate in a fair and orderly manner, that securities industry professionals deal fairly with their customers, and that corporations make public all material information about themselves so that investors can make informed investment decisions."
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