Ok I am going to set myself up to take a little heat, but I am a CEO of a public OTC company, basically over the summer we chased the "bad guys" out of the company via court action.
I agree with your statement about the SEC filings, they are a very good starting point, but like everything else in the world there is exceptions to the case.
True story, I found our "timely" 10k ready to be filed, as I looked it over this thing it read like a comic book, couldnt have been written to be further from the truth... make a long story short I now know why they call these reports 10k, its the cost of an audit <LOL>
We are late with reporting, the 10k is going to look like a train wreck thanks the the previous management. But at least it will be an honest filing.
The thing is, the SEC is so understaffed they do not have time to do anything other than file these reports, they very rarely even review these filings... the only time they will react is when enough investors start raising cain, and then they move so slowly its not even funny.
Am I slamming the SEC? No... the point I am trying to make is sometimes these "fully reporting" OTC companies are treating filings like they do some of their press releases, so read with caution, if you call the company with questions about the filings put them on the spot ask some hard questions and see if the answers match up to the answers on the filings... remember if its filed with the SEC its not insider info, so dont let them off the hook easy.
About Pump & Dumps and promoters... ask yourself why would a company hire a paid hypster?
KAA
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