Alan, a delayed reply to a former post which you had graciously commented on to me.
Had the proof that they have been shared, the shorters would no doubt not have proceeded with such reckless abandon. - AlanC
Does that mean that FFGO did have the documentation that clearly could prove that the Bouse & South Copperstone Gold Reserves were worth a billion dollars? Wouldn't it have been rather prudent for them to have made it public to show that Searchlight's own documentation of zero Proven & Probable Gold Reserves was then wrong or outdated?
And, as we both agree with, it would probably have made any kind of shorter think twice. Sure would have been a much more effective way to go, right? Kinda makes you wonder why it never happened...
FFGO was a public company and was obligated to provide exactly that kind of information to back up any valuation claims, correct? Besides, what experienced investor would ever put a nickel into such a company without first insisting on that data? Wouldn't such blind faith be a surefire formula for guaranteed investment losses?
It certainly turned out to be true with FFGO, didn't it?
The fact is, public companies are mandated to provide quarterly financials so that investors know how their money is being spent, something FFGO undeniably refused to ever do. What possible legitimate explanation can there ever be for such a decision? Is that honest? Because it certainly isn't acceptable behavior and the SEC eventually (and with far too long a delay) punishes violators by de-registering their stock and removing them as a public company.
Maybe if management had spent more time abiding by regulations and less time fighting quixotic NSS, shareholders would have something other than $0 for their shares.
I won't even ask why some feel that FFGO reversed its NSS position before disappearing. I know there are advocates of the Secret Trap Shorty Plan while I have my own Thank-God-We-Are-Finally-Done-With-That-BS hypothesis. Company silence could certainly explain both but only one will eventually be proven to be true.
And since there appears to be little faith in the explanation of what FINRA's Daily Short Sales data really means and a denial of the reliability of their bi-monthly report data, any further discussion on that subject is fruitless.
Well, almost.
I would like to see a single court case where all that overwhelming, clearly obvious, black & white data was ever successfully used to prove massive naked short selling in an OTC company.
Just one.
There is a very, very good reason for that and it's not due to staggeringly gross incompetence of either the regulatory agencies or the judicial systems.
It's quite simple. The data is being misinterpreted and subsequently, misused in all those attempts to prove a conspiratorial naked shorting epidemic.
BTW, how many here have ever personally called FINRA and asked them about it? In general, I mean...and not as you feel it applied to FFGO. I suspect they have heard more than their share of such conspiracy rants which maybe, just maybe, is the reason why some inquiries are ignored. There are those who refuse to accept any other explanation once their minds are made up.
As for the recent court decision allowing regulators to be sued for failing to act against fraud cases, I applaud it as do, I'm sure, every single fraud fighter who go after unscrupulous operations.
The difference between them and the Don Quixotes battling NSS windmills is that Company Fraud Busters are always armed with court acceptable documentation of wrongdoings while NSS Busters have nothing more than that misinterpreted FINRA data. Is it any wonder why they are always ignored?
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