I'm not an expert on the legalities of pinks, but by their nature they are non-filing and so really don't have to report a lot. I do believe if insiders are buying and selling, they have to report, but it's been a while since I checked that. From a practical standpoint, I believe that with most pinkies, they don't bother and if it turns out to be a scam, there's nobody left with any money anyway. The SEC goes after a tiny fraction of scams.
Also, if they knew that they had a deal and started buying, based on that non-public information, there could be ramifications with respect to disgorgement of their profits.
So, all in all, I have to respectfully disagree with you about PR's about a trip. What are they going to say, "We had a great meal. Then we looked at a pile of snow that just smelled like it was hiding a huge oil well?" I'd like to think that most people are more sophisticated, but I know they are not.
If they PR'd a trip to examine possible future billions of dollars/ruples of oil, etc., to me that would be pumping and worthless.
If they have a deal and if they line up the financing, I'm sure they will PR it and you will know by the share price.
Again, as for other people's claims, if it upsets you that much, don't read that thread. I don't think it affects many people here on SI.
If you are looking for OTC's with different valuation metrics, more precision, less risk, there are many places to look. The best place I believe is The Microcap Kitchen where I often post.
SPRL is not one that would be profiled there. However, for me, it's a different type of risk for the reasons I mentioned. I have evaluated the risk, lack of information vs. the potential for a huge payoff in an area that is hot (oil, natural resources) and geographically hot (Russia now that Gazprom has flexed its muscles and now needs to bring in foreign investment.)
So, it's an educated gamble so to speak. |
