Dave,
I agree the sooner we get back to "normal trading" with a "normal spread" the better. Pink sheet trading certainly does not reflect the true market value of GRNO. Obviously, the current uncertainty associated with the investigation and pink sheet illiquidity are two quite damaging factors that is affecting the market in GRNO.
Before assigning blame one must understand all the factors that determine the course of events.
<<I think it's unreasonable at this point to blame the SEC for GRNO's stock woes. The mere act of an investigation and short trading halt is not enough to keep alive the nervousness that surrounds GRNO today.>>
The SEC IS the primary reason for the current stock woes with regard to the Pink Sheet status. Below is a quote from my post #6036. The full post explains in more detail my conversation with the NASD.
<<He also told me that even if all parties (GRNO, MMs) submitted all the required forms, but the SEC investigation was ongoing, the likelihood of NASD approval for trading was nil. He said the first action NASD would take upon receipt of any forms would be to contact the appropriate SEC examiner's office for an update on the status of the investigation.>>
Yes, the SEC can only administratively halt a stock for 10 trading days. But for practical purposes, the return to normal trading status is definitely affected by the continuing actions of the SEC.
I agree that BC should work on firming up some orders ($$ in the bank), update the status of press releases, and get this thing trading with all the info out there for everyone to analyze. That scenario would then allow the market to price GRNO at its perceived value.
I understand the frustration we are all feeling. Having been to Charleston in the last couple weeks, I can assure everyone that BC and the gang are conducting business as usual. It is important to realize that until this SEC thingy is complete, the information faucet in Charleston is necessarily set on slow drip.
BTW, our form of government is the best in the world but it did not evolve into that with we constituents peering at it through naively placed and rose-shaded eyewear!! Reference a few of Norm's poignant posts concerning power, control, and governmental bodies for some good reading. Let us reserve judgement (positive and negative) on both GRNO and the SEC until the facts are out in the open for all to peruse!
LLLP Mark |
