SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Microcap & Penny Stocks : Green Oasis Environmental, Inc. (GRNO)
GRNO 0.00Dec 24 4:00 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Hawkmoon who wrote (8760)2/11/1998 4:05:00 PM
From: Bill Fuller  Read Replies (1) of 13091
 
"...something they can be held legally accountable for."

Ron, you wrote "There are major differences between '33 Act and '34 Act companies. I don't fully understand what all of them are, but I do know that if this company puts something in that 10Q/10K that is not true, that is something they can be held legally accountable for."

Basically '33 Act deals with the offering of securities for sale in a public offering and the disclosures required in connection therewith. '34 Act deals with the disclosure of information required of 'public' companies, as defined by number of shareholders and asset levels (used to be 500 shareholders- don't know specifically now).

And if you REALLY understand what "...something they can be held legally accountable for" means, then you have the full and complete explanation for ALL of the SEC's actions in connection with GRNO and its principals and their confederates. As should have been made apparent by a reading of the following from the 6/30/97 10-QSB - about the strongest statement that I've ever seen in any public filing disavowing prior filings - in essence saying very clearly that something - indeed apparently a LOT of somethings - in prior public filings were untrue.

"The material set forth herein and elsewhere in this Report is intended to address the Areas of Concern and any other matters determined by counsel to be in need of clarification. Although this material should be read in conjunction with the Company's prior filings with the Commission and other publicly available information relating to the Company, the Company expressly disavows all information and statements contained in prior filings, public announcements and other information disseminated by the Company (including, without limitation, press releases and electronically disseminated information) to the extent such information or any such statements conflict or are otherwise inconsistent with the material set forth herein or elsewhere in this Report. In the event of any such conflict or inconsistency, the information contained herein and elsewhere in this Report shall control, and no reliance should be placed on such conflicting or inconsistent prior information."

Hope this helps you in furthering your understanding of what to look for when doing due diligence.

Bill Fuller
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News