Plato,
1. I agree that the fully reporting requirement is a major step forward in cleaning up the OTC BB market. If not for the Form 10, INVT investors would not have known that INVT paid its President, Douglas Smith, $36.8M in cash and stock (based on Friday's close) for his company with annualized income before taxes of $529,472.
2. Agreed.
3. I'm not familiar with the restrictions on market makers in Europe vs. the U.S. If you can shed light on this it would be much appreciated.
4. If INVT really wants to clean up the market and take on the market makers, why not sue a specific market maker? Believe me, companies know which MMs are causing them problems. As a show of good faith, how about this idea: would INVT agree to drop the lawsuit against any of the defendants who provide affidavits they are not market-makers nor are in their employ?
5. As for why do I post, in this instance, it's because I follow investment chatboard lawsuits: Subject 28509. When I saw 14 people were being sued I wondered what all the fuss was about. I must say, I do see many red flags with INVT. I'm very tempted to more thoroughly check them out (i.e. do more than just read the SEC filings). However, sad to say (or happy to say depending on your point of view), I've spread myself too thin with other projects. For example, if you're into murder mysteries, see: Subject 32074. So, as for me continuing to post here, maybe sporadically, at best. However, since there's not much to read here, I'll try to keep abreast of any activity here.
- Jeff |
