Replies to post #98744 on Green Leaf Innovations Inc (GRLF)

[feinanddandy]

Not GDSM, NEVER has, NEVER will.

[1manband]

The penny market will not ever go away unless the SEC allows for trading of small cap penny stocks on larger markets. That will never happen.

Who said the "penny market" was going away? What every other industrialized nation has done is prohibit any non-registered and non-reporting company from trading in the public market. There is absolutely no legitimate reason for any company who wants to access the public market should not be registered with the securities regulators and file audited financial statements. Those things are necessary for an investor to perform adequate DD to determine if the shares are worth buying. No company who does not provide them should be allowed to dump even a single share into the public market place, much less the billions GDSM has dumped without disclosure.

When Canada eliminated the trading of non-reporting public companies, their market actually grew even though a large number of companies were removed from the system. It was a black eye on the reputation of the market, and those non-reporting companies were almost all scams, anyway. The few that were not became reporting. The US needs to do the same.

And your assertion that "it will never happen" is incorrect. NASDAQ's new venture exchange (which requires a company to be fully reporting to the SEC) has been approved by the SEC, but waiting for the SEC to change the applicable regulations and allow low-priced stocks to trade on an Exchange. But it will happen.