KMAG has become a cult stock. No explanations will be sufficient, nor will they be accepted. That said, this isn't true:
It has been explained to the herd no MM is not going to sponsor a previously suspended grey without audited financials plugged into a form 10 to get the stock registered.
No Form 10 is required. EMGE did file one, but AFTER it had begun trading on the Pinks once again. A few months later, it withdrew it. Why?
The basis for the application to withdraw is the Company's inability to meet audit requirements within the necessary time line. No securities were offered or sold in connection with the aforementioned Form 10 filing being withdrawn. The withdrawl is believed consistent with the public interest and the protection of investors which the Company believes is most important.
Rule 15c2-11 under the Securities and Exchange Act of 1934 (Exchange Act) governs the submission and publication of quotations by brokers and dealers for OTC equity securities. Specifically, the rule applies to a broker-dealer's initiation or resumption of quotations for such securities in any inter-dealer quotation system, including OTC Link. Pursuant to the Rule, brokers and dealers are required to review and maintain specified information about the issuer of the security before publishing a quotation for that security. See complete text of SEC Rule 15c2-11. Get a copy of the Form 211.
The Securities and Exchange Commission petitioned in Federal Court recently to increase the statute of limitations from 5 years to 10 years to better equip themselves for trials, and conduct more thorough investigations in preparation for trial.
They were denied.
I would not be shocked to see arrests by the IRS or the FBI on any scam 4 years and 364 days from the start of the investigation.
Don't forget the failure to pay taxes!!! If you pay the taxes you admit the crime. There is no way out. Why do you think the FEDS have a 99% win ratio.
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