Your post is partially accurate. Rather it is accurate in what it states but you left out a couple critical details.
1) A dark pink sheet stock does not need to report financials. Until recently they could get away with releasing nothing. As of late the SEC has been shutting down many for that very reason. I am sure everyone here is well aware, so no need to go in depth.
2) There is a vast difference between reporting information/not reporting information and reporting information that is fraudulent. If a pink sheet says nothing they will most likely be fine. If a pink sheet states something as fact - either publicly or in a private call/email that puts a positive spin on the stock in an attempt to get one to invest in it, and that information is fiction, it becomes criminal fraud. Yes, people can and do go to prison for that. Read the links I posted and do some checking.
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