John, they think they are protecting themselves. I think I was saying that a year ago. If they would have done what we taxpayers pay them to do, they would have actually investigated the situation, reported what they found and explained what their problem was. Instead, they have said nothing, which I think I predicted. In that way, they have driven away an unknown number of customers who could have made us a tremendous amount of money. As long as they drive away customers and investors in plants, GRNO will continue to languish which is what the SEC wants to happen. That way their embarrassment fades away into oblivion and the public can eventually forget.
Remember a year ago, when GIFS was shut down? GRNO was also shut down less than 2 weeks later and subsequent SEC documents used GIFS and GRNO in the same sentences as if they were joined at the hip. The obvious implication was that GRNO was a criminal enterprise just as GIFS was and the SEC pointed it out over and over to demonstrate what a great job they were doing for investors.
It turned out that the SEC had been repeatedly warned about GIFS for the previous several months but did nothing about it. Meanwhile some investors put far too much of their own wealth into it until GIFS was shut down, not by the SEC, but by the state of Tennessee. The SEC didn't act until days later.
I think the investigators did their jobs in looking into what had been going on at GRNO, but the political types higher up decided to keep it under wraps. I think it was strictly a political decision.
Sure, the press releases were misleading at best, stock sales were made that we didn't know about, and stock wasn't registered as it should have been. The buck stops at BC, but the company's lawyer was supposed to oversee and approve. That lawyer no longer practices law, but BC is still on the job, trying against all odds to make GRNO go. As long as he is keeping the door open and the lights on, we still have hope. I am still waiting for AMBIX and Manova to do their deals and for DHEC to do its job.
Charles |
