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 : MTEI - Mountain Energy - No BASHING Allowed
MTEI 0.004300.0%Dec 17 1:29 PM EST
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: George C. Grasser who wrote (7994)8/7/1998 9:54:00 PM
From: eric deaver  Read Replies (3) of 11684
 
FWIW,

I spoke to a gentleman at SEC Enforcement today. I wrote down his name and can't find the paper but it really doesn't matter. Here is the general idea of what he told me. The SEC has the right to suspend trading one time for two weeks. At the end of that period, an MM can only quote a price if he first indicates he is satified with the financials of the company.

Evidently this is all the SEC can do to suspend trading. They can not impose a longer trading suspension at the end of this one or any thing else.

Now the investigation is ongoing, evidently. At the end of the investigation, several things could happen. One thing might be an Administrative Order. One thing may be a lawsuit. It may also just be dropped. There are probably other things that could happen. He was hesitant to discuss a lot of contingencies.

I specifically asked about the Administrative Order and specifically about "cease and desist" orders (it seems as if a lot of companies get these as a result of the SEC investigations). I said are these just the SEC telling them don't do this again and we will let you off and he said, "Yeah, that's about all they are."

So if a MM can be found - which I know is a big IF. It is my opinion that unless there is more dirty laudery uncovered by the SEC, MTEI will not get the book thrown at them and can get over this investigation even if they did have errors in their PRs. Again, that is if all the SEC claims is that they misstated the value of their assets in the PRs.

Take sometime to read some of the SEC Administrative Orders. Many of these companies are alleged to do the exact same thing and get simply a cease and desist order.

This is of course only speculation on my part.

FWIW,

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

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2026 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News