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Microcap & Penny Stocks : Green Oasis Environmental, Inc. (GRNO)
GRNO 0.00Dec 8 4:00 PM EST
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To: Robert Korn who wrote (6857)8/4/1997 6:38:00 AM
From: Carl R.   of 13091
 
Actually Robert, you mis-state the function of the SEC in their investigation. They are not protecting you from yourself. In fact if it is not obvious, they are not protecting you at all. What they are trying to do is to protect others from you. In other words, they figure that anyone who currently holds shares is stuck holding the bag, and they want to make sure that no new investors are hurt. It is only natural to resent being left holding the bag, but the SEC typically acts to protect new investors from being hurt. By preserving the status quo they figure that with luck they can halt trading while any bad actors (insiders, pump/dump artists, etc.) still have a significant stake. Otherwise if the company had no value then the people who realized this would take what they could get and move on, hurting more innocent people in the process.

And remember, if it turns out that this company actually has any value, the cost of this trading interruption will really only be the legal fees that GRNO has to pay to defend itself which, while not insignificant, will also not wipe out the value of the investment. The fact that no actual sales to anyone other that itself (i.e. limited partnership) have taken place does raise questions as to whether or not there is real value here. And it certainly points out that the SEC was more than justified to begin its investigation. It is very clear that there is a wide divergence between the number of sales announced before the investigation and the number that have taken place or been announced/confirmed since the investigation.

Good luck,

Carl
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