Jeffrey, You do not seem to understand my point. Yet you mention MTEI, If my memory serves me, the sec stopped trading on that stock. That is my point !!! Someone always gets left holding the bag when something like this happens.
If this company is a scam then that is what should happen ! I should not be able to sell my shares to some other unsuspecting investor.
If jhild has information that could cause the sec to suspend trading then he should present that information to the sec. The sec would then, if his evidence is strong enough, halt trading. This would do 2 things, allow the company to answer any questions that need answering and serve notice that the sec is watching.
If the end of this is that the company is indeed a scam, then those that participated should be banned from holding similar positions in other public companies. That is how you stop the problem.
If of course this were not the case and this company then passed the sec muster, then that should end his interest.
That is not what is happening, the only thing happening is share prices of the companies targeted by these anonymous posters is either held down or declines. That does nothing to protect the new investors who buy your stock when you are scared out of your investment by these questions.
I do not know jhild personally, he may have only the best of intentions. He may truly be spending his valuable time attempting only to help others. If that is the case, I urge him to continue his efforts at DD, but I also urge him to present his case to the sec not to the investors on a message board.
If I invest in a company without doing the proper DD and that Company turns out to be a scam, then I have no one to blame but myself.
The end result of what has happened here is that this company has been labeled a scam by many, If this is not true, then this company and it's investors have lost a lot and it will take months and maybe years to repair the company's reputation.
BTW, all of this has really not affected me since I only became a shareholder in December.
This is of course my opinion, and I welcome dissenting viewpoints.
jjbucci |
